J51 tax abatement changing drastically

I’m the treasurer of a small, self-managed coop and am wondering if any other folks have seen drastic changes in their J51 tax abatement?  We have a 20 year abatement that started in 1994, so presumably have 2 years left of benefits, but have just been notified that our abatement has gone from a credit of $1318/quarter to $36/quarter, which is resulting in nearly 300% more taxes that we need to pay each quarter.  I’ve filed a service request with the city to get more info but it will take a few days to get anything back from them. Has anyone else experienced anything similar?  Or, does anyone have experience using a certiorari attorney to challenge the city on tax abatement issues?

hainspoint

in Taxes 12 years and 3 months ago

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DeLepp | 12 years and 3 months ago

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Welcome to the tax shock. Our abatement ended in 2008 and taxes have gone from $13K year to $66K for 10 unit coop, this is after we hired a tax attorney. City needs cash, and your neighbors in 5 story brownstone will be paying less than your portion for a 2 bedroom.

pigthree | 12 years and 3 months ago

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I hope all the condo buyers from 2005-2008 are paying attention to this.  I recall hot debate on how much taxes would increase on this forum.

hainspoint | 12 years and 3 months ago

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we had a 20 year abatement starting in 1994, but I finally got into the city’s online system, and it indeed does look like we have exhausted the abatement.  It just went straight out though, if you compare it year by year, there was no phasing out.  There also wasn’t any mention at all of changes in our J51 abatement in the annual Notice of Propery Value (that doesn’t even mention the J51, it just lists that we also have a Basic Star), or any indication at all that our taxes for the upcoming year would change.

Bklnite | 12 years and 3 months ago

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Not sure how the phase-out works, but for example if you had been paying 20% of the unabated tax and now have to pay 60%, then yeah you’re paying 300% of what you were (or if you’re paying 80% then it’s a 300% increase). But you knew the abatement was ending soon and that you’d have to end up paying 100% of the unabated taxes, no?

hainspoint | 12 years and 3 months ago

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webapps.nyc.gov has been down for me for a day now, I can’t seem to get it to load? I would understand if there was some phasing out, but a 300% increase in our taxes from one year to the next seems a little ridiculous, no?

NewOwner | 12 years and 3 months ago

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Your abatement may be phasing out.  Check the following website for your building’s J-51 status: http://webapps.nyc.gov:8084/cics/cwba/dfhwbtta/abhq