Assembly Speaker Sheldon Silver has introduced A.10071 to extend the property tax abatement for home owners in New York City cooperatives and condominiums to June 30, 2016. Senator Martin Golden has introduced necessary companion legislation– S. 7091 in the State Senate.
For the abatement program to be continued seamlessly into the tax bills for July, 2012, A.10071/S.7091 will have to have been signed into law by the beginning of June, when the NYC Department of Finance begins preparing our tax bills.
TAKE ACTION TODAY IN SUPPORT OF THE EXTENDER
YOUR help is urgently needed to urge your Albany legislators to pass this vital legislation at once. Turn the page for sample letters and instructions on finding your lawmaker. Send a succinct e-mail message urging swift passage of the appropriate bill and follow up with your version of the sample letters (see links below).
TIME IS OF THE ESSENCE!
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A Brief History of the Abatement Program
*In 1993, a blue-ribbon commission appointed by Mayor Dinkins acknowledged that homeowners in New York City cooperatives and condominiums pay more than their fair share of property taxes.
*In 1996, Mayor Giuliani and the City Council together called for tax reform. A three-year property tax abatement was instituted for homeowners in cooperatives and condominiums, and the City was to produce a long term plan for tax fairness.
*In August, 1999, September 2001, May 2004 and June 2008 the abatement program was extended for two, then three then four years (twice) until June 30, 2012. In 2004 and 2008, extender legislation was passed early enough to provide for a seamless transition (prior extenders were not signed into law until after the start of the fiscal year, so full taxes were collected in July and October, with adjustments made on January and April bills).
With an outpouring of support for A.10071/S.7091, FNYHC hopes for swift passage of this important extender legislation.
CLICK TO DOWNLOAD SAMPLE LETTERS: