Tax Credits and Incentives - HPD

Housing Preservation & Development


Tax Credits and Incentives

Affordable Housing
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Tenants' Rights
Tax Credits and Incentives
Wage and Labor

Affordable Housing

Building and Land Development Services

Code Enforcement

Compliance

Design Guidelines

Do Business with HPD

Guide for NYC Homeowners

Home Repair and Preservation Financing

Housing Quality / Safety

Neighborhood Planning

New Construction Financing

Property Management

Rental and Down Payment Assistance

Report a Complaint

Section 8 / Rental Subsidy Programs

Tenants' Rights

Tax Credits and Incentives

Wage and Labor


Tax Credits and Incentives

*Important COVID-19 Updates* and About Tax IncentivesLearn about important COVID-19 updates and the agency's tax incentives for investments that benefit the public.

Low Income Housing Tax Credits (LIHTC)Tax credits for new construction or rehab projects with low-income set-asides.

420-aComplete tax exemption for HDFC-owned housing with on-site social services.

420-cComplete or partial tax exemption for low-income housing developed with tax credits.

421-aPartial tax exemption for new multiple dwellings

421-bPartial tax exemption for new construction or substantial rehabilitation or owner-occupied one- and two-family homes.

421-gTax exemption and abatement for conversion of commercial buildings to multiple dwellings in downtown Manhattan.

467-m *NEW*Affordable Housing from Commercial Conversions - partial tax exemption for affordable housing in new multiple dwellings created from commercial conversions.

485-x *NEW*Affordable Neighborhoods for New Yorkers - partial tax exemption for affordable housing created in new multiple dwellings.

Article XITax exemption for HDFC-owned new construction or rehabilitation.

J-51As-of-right tax exemption and abatement for residential rehabilitation or conversion to multiple dwellings.

J-51 Reform *NEW* As-of-right tax abatement for residential rehabilitation of multiple dwellings.

UDAAPTax exemption for rehabilitation or new construction of housing in UDAAP areas.