Exempts from certain provisions of the administrative code of the City of New York relating to property tax benefits for multiple dwellings, certain multiple dwellings in the Bronx

BILL NUMBER:S5052A

Title of bill

An act to grant an exemption from certain provisions of the administrative code of the city of New York relating to benefits pursuant to section 421-a of the real property tax law

Purpose

The purpose of this bill is to provide certain excluded homeowners with the ability to apply for and obtain a real property tax exemption pursuant. to Real Property Tax Law section 421-a for dwelling units that had inadvertently, due to the operation of the law and the time period in which such dwellings were constructed, been excluded from participating in this tax abatement program. This occurred due to the timing of the construction schedule for several phases of the Harbour Pointe at Shorehaven Condominium project in the Bronx.Because of such construction schedule and the operation of law with regard to changes in the 421-a program, certain dwelling units were eligible to obtain the section 421-a tax exemption, while other similar situated units within the same housing development were not eligible. This bill affects the Harbour Pointe at Shorehaven Condominiums (Phase III and IV).

Summary of provisions

Section 1: Amends the provisions of Section 11-245.1-b of the Administrative Code of the City of New York to include certain units of a condominium housing project that were inadvertently excluded from the eligibility of participating in this tax abatement program. This bill merely authorizes such excluded homeowners who would have otherwise been eligible for such section 421-a real property exemption benefits to apply to the local housing agency for a preliminary or final certificate of eligibility.

Existing law

The current law allows for certain dwelling units to be eligible for a real property tax abatement and other similarly situated housing units to not be eligible to apply for such benefits.

Justification

This bill was requested by the affected local condomin- ium residents and the condo associations for the Harbour Pointe at Shorehaven Condominiums Phase III and Phase IV to ensure that all homeowners who live within the project covered under this bill can apply for and obtain a section 421-a real property tax abatement, Currently, no condominium owner has a tax abatement in Condo Phase III and approximately 30% of those in Condo Phase IV do not have a section 421-a real property tax exemption.

Effective date

Immediately