Published: Summer 2001
CITY GOVERNMENT AND ALBANY AGREE
TO
ABATEMENT EXTENDER FOR 3 MORE YEARS
Property tax abatements for homeowners in New York City cooperatives
and condominiums will continue for three more years. Strong commitments
by the mayor and the City Council to continuing the abatement guaranteed
its inclusion in the City budget in June. Assemblyman Pete Grannis and
Senator Roy Goodman then ensured that the extender was passed by the
Senate and the Assembly,(State law must be amended to authorize for
the extender.) At this writing, Governor Pataki is slated to soon sign
this important measure into law, continuing an important initiative
begun in 1996 to bring fairness to the property taxes paid by homeowners
in cooperatives and condominiums.
With three more years of abatement now in place, CNYC and the Action
Committee for Reasonable Real Estate Taxes will use that time to work
for a permanent plan for tax fairness. Page 3 details the story of this
abatement extender and page 15 announces the September 13 meeting of
the Action Committee. Your building should be active in this ongoing
crusade for permanent tax reform.
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