February 08, 2023
Gov. Kathy Hochul this month pitched a new version as part of her executive budget, but even if it passes, it is not clear that anyone would seek it
Does not appear to exempt taxes on increased valuations resulting from renovation work
Apartments must still be rent-regulated while the landlord gets the benefit, and in many cases beyond that
December 16, 2021
Buildings must go electric, J-51 is back
Incentive is available for residential renovations and conversions
Beginning in 2024, new buildings in the city will go electric
December 14, 2021
City Council to raise J-51 from the dead
J-51 abatement and exemption program for the next six month
Committee votes to advance bill reviving tax break for multifamily repair
June 08, 2021
State renews J-51, putting tax break’s fate in city’s hands
The J-51 ball is now in the city’s court.
Program to subsidize renovations expired a year ago