NYC Co-op and Condo Tax Abatement: The Real 2026 Tiers
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The NYC Cooperative and Condominium Tax Abatement ranges from 17.5% to 28.1% of your property tax bill, based on your building’s average assessed value per unit. Both co-ops and condos qualify for the same percentage tiers under New York Real Property Tax Law §467-A. The only real difference is how the benefit actually reaches you.
The one line on your bill that runs in your favor.
The current percentage tiers under RPTL § 467-A
A program that hasn’t moved since the post calling it new. “The Cooperative and Condominium Property Tax Abatement reduces the property taxes of eligible condominium and co-op owners,” per NYC DOF’s own page. The current tiers, confirmed directly there, are unchanged from what’s been true for years.
| Average assessed value per unit | Abatement percentage |
|---|---|
| $50,000 or less | 28.1% |
| $50,001-$55,000 | 25.2% |
| $55,001-$60,000 | 22.5% |
| $60,001 and above | 17.5% |
These numbers apply under New York Real Property Tax Law §467-A, the statute that enables the program. The four-tier schedule above is DOF’s administratively updated version of what the statute originally codified. Every building files by February 15 each year.
Generally, you must purchase a unit before January 5 to qualify for that upcoming tax year’s abatement.
The condo tax abatement delivery mechanism, and how co-ops differ
To start, condos get it automatically. Co-ops get it as a math problem. A condo owner sees the abatement applied directly to their quarterly property tax bill, with no extra steps required.
A co-op board, by contrast, receives the abatement as a lump sum from the city and has to pass it through to shareholders itself. That usually appears as a debit-and-credit line on the maintenance statement: a debit for the building’s assessment and a credit for the abatement amount. It nets to roughly a wash for most shareholders.
That mechanism sometimes gets described as if condos are shut out of the program entirely. They’re not. The percentage tiers are identical for both ownership types; only the delivery mechanism differs.
It’s worth understanding your building’s version before you assume your bill reflects the full benefit. If you’re comparing a co-op purchase to a condo, our condo vs co-op guide covers what actually differs between the two.
NYC tax abatement eligibility, and the prevailing wage affidavit NYC requires
To start, the list is longer than the eligibility line ever mentions. A unit is ineligible if it already receives a J-51 benefit or a 421a, 421b, or 421g exemption. The exception: an exemption expiring on June 30 of the application year. It’s also ineligible if it’s part of HDFC, Mitchell-Lama, or limited-dividend housing.
LLC-owned and sponsor-held units also don’t qualify. An owner who holds more than 3 units in one development loses eligibility for the extras.
Most guides skip the prevailing-wage affidavit requirement. Buildings with 30 or more units and an average value over $60,000 have to file an affidavit. So do buildings with fewer than 30 units and an average value over $100,000. It confirms building employees are paid prevailing wage, a real, currently enforced part of qualifying, not a footnote.
If your building is carrying a special assessment tied to a recent capital project, our special assessment guide covers a related mechanism. Boards sometimes pass through the abatement assessment the same way. Run your own numbers with NestApple’s closing costs calculator before assuming a building’s listed maintenance already reflects its abatement.
For every other cost this program doesn’t touch, our co-op costs and rules hub walks through flip tax, special assessments, and capital gains together. If you’re buying with NestApple, our buyer rebate can offset part of what the purchase costs regardless of your building’s abatement tier.
Common questions
Do condos get the same tax abatement as co-ops in NYC? Yes. The percentage tiers (17.5% to 28.1%) are identical for both ownership types under RPTL §467-A. Condos get it applied directly to their tax bill; co-ops pass it through via a maintenance assessment.
What’s the deadline to file for the abatement? February 15 each year, and the unit generally needs to have been purchased before January 5 of that year to qualify.
Who’s ineligible for the abatement? Units already receiving J-51 or 421a/421b/421g benefits, HDFC/Mitchell-Lama/limited-dividend housing, LLC-owned or sponsor-held units, and owners of more than 3 units in one development.
What’s the prevailing wage affidavit requirement? Buildings of 30+ units averaging over $60,000 in assessed value per unit, or under 30 units averaging over $100,000, must file one. It confirms that building staff is paid prevailing wage.
Why does my co-op’s tax abatement show up as a credit and debit on my statement? Co-op boards receive the abatement as a lump sum and pass it through to shareholders as a credit against an assessment. It nets to roughly a wash for most owners.
Nicole Fishman Benoliel co-founded NestApple in 2017. She's a lawyer admitted to the New York bar - her law degree is from La Escuela Libre de Derecho in Costa Rica, with further study at IE Business School in Madrid and an LLM from Fordham in New York. She does not act in a legal capacity at NestApple; every client is referred to an attorney who handles real estate deals full time.
