URGENT REMINDER: MANY BUILDINGS STILL NEED TO FILE THE PREVAILING WAGE AFFIDAVIT BEFORE THE MAY 2 DEADLINE FOR RESIDENTS TO RECEIVE THE COOP/CONDO TAX ABATEMENT

Follow-up #6 – Local Law 152 of 2016: Requests for Due Date Extensions to Complete Gas Piping Inspections
March 23, 2022
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URGENT REMINDER: MANY BUILDINGS STILL NEED TO FILE THE PREVAILING WAGE AFFIDAVIT BEFORE THE MAY 2 DEADLINE FOR RESIDENTS TO RECEIVE THE COOP/CONDO TAX ABATEMENT

To receive the coop/condo property tax abatement in fiscal 2023 (which begins July 1st), all NYC cooperatives and condominiums of 30 units or more whose fiscal 2023 assessed value averages $60,000 or more per unit and all NYC cooperatives and condominium of fewer that 30 units whose fiscal 2023 assessed value averages $100,000 or more must file with the Department of Finance by May 2nd the affidavit stating that all building service employees shall be paid prevailing wage during fiscal 2023 EVEN IF THE BUILDING HAS NO BUILDING SERVICE EMPLOYEES. 

Many otherwise eligible buildings have not yet filed this affidavit with the Department of Finance.  Please check that your building is in compliance.  Once lost, the abatement program cannot be reinstated.