Save the New York City Real Estate Tax Abatement

Help Reinstate the Tax Abatement!

Did you know that one of the most important pieces of legislation in New York City, one that has helped tens of thousands of people to be able to afford their homes, has been allowed to lapse?

Previously, the Real Property Tax Law allowed owners of new one-, two- and three-family homes to have their real estate taxes abated, helping many New Yorkers own a home in a market that has always been challenging for homeownership. This has also been an engine of the New York City economy, employing tens of thousands, providing construction wages and spending, and helping local businesses grow.

This site advocates having the New York State Legislature reinstate the Real Estate Tax Abatement for one-, two- and three-family homes in New York City. One- and two-family homes were covered under Section 421(b) of the Real Property Tax Law and three-family homes were covered under Section 421(a), but both these sections have lapsed.

In light of the current housing market conditions, and the current economy in general, the reinstatement of these tax abatements is critical to the rebirth of the homebuilding industry, and particularly to ability of middle income residents of New York City to afford a new home.

Learn how you can help get this critical piece of legislation reinstated!

Save Tax Abatement

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