Tax Incentives - HPD

Housing Preservation & Development


Tax Credits and Incentives

About Tax Incentives


*Important COVID-19 Update*

Important notice regarding 421-a(1-15)(aka "old 421-a"), 421-a(16), 421-a(17), J-51, and 420-a tax benefit applications in light of COVID-19 outbreak (March 24, 2020)

In light of the current COVID-19 outbreak, HPD wants to ensure the safety and well-being of the public as well as our HPD team. Therefore, HPD is authorizing the following as an alternative means of application submission and application fee payment:

Step 1

Email a pdf of your completed tax benefit application with all of the required signatures along with information in Step 2 below and the wire transfer or ACH receipt for such application filing fee. Physical checks will not be accepted.

Refer below to the last section of this notice for HPD's Payment Remittance Instructions.

Send an email to the following:

RPTL Section 421-a Applications: 421a_pdfapps@hpd.nyc.gov

RPTL Section 489 (J-51) Applications: J51_customer_service@hpd.nyc.gov

RPTL Section 420-a Applications: 420a_exemption@hpd.nyc.gov

You must include the following information in the Subject Heading of your email:

the address for the Property that is the subject of the application

the block and lot for the Property that is the subject of the application

if already assigned, the docket number for such application

This pdf application shall constitute your official application submission and the date of the email containing the pdf application shall constitute your official application filing date. HPD will send an email acknowledging receipt. However, the original application must also be mailed to HPD per Step 2.

Step 2

Mail via USPS or private courier service the original paper application that was emailed by pdf, to:

New York City Department of Housing Preservation and Development
100 Gold Street, Room Number [please see below for applicable number]
New York, NY 10038

Applicable Room Numbers:

421-a(1-15), (16), and (17): Rm 8D-10

J-51: Rm 8-C10

420-a: Rm 9-Z3

Application submission procedures for RPTL Section 420-c or PHFL Article XI tax benefits remain the same as they were before the outbreak. Please refer to the program instructions on the respecitve webpages linked in the previous sentence for how to apply.

Payment Remittance Instructions

Remittance must be made by wire transfer or ACH. Physical checks will not be accepted. Please email the below program contacts for payment instructions.

Contact

If you have questions regarding the application process or any other inquiries regarding HPD tax benefit programs, please email:

421-a: 421a_customerservice@hpd.nyc.gov

J-51: J51_customer_service@hpd.nyc.gov

420-a: 420a_exemption@hpd.nyc.gov

Article XI, 420-c, UDAAP: ArtXI_420c_UDAAP@hpd.nyc.gov

About Tax Incentives

Tax Incentive programs administered by HPD may reduce or eliminate the amount of municipal taxes a property owner must pay. Incentives are typically awarded in exchange for investment that benefits the public, and are used by developers and property owners to offset the cost of investment in the property.

Tax Incentives programs can either be granted as-of-right or in exchange for the creation or preservation of affordable housing. Projects that meet the eligibility requirement of one of the tax programs listed on the tax credits and incentives webpage are granted benefits pursuant to the statutes and regulation of the program.

Tax benefits may be an exemption and/or abatement. A real property tax exemption typically refers to a full or partial exclusion of an increase in the assessed value of a newly constructed or rehabilitated property which results from such construction or rehabilitation. A real property tax abatement typically provides a reduction in the amount of taxes owed on rehabilitated property by applying credits based on the cost of the improvement.

HPD determines the eligibility of all applications. The Department of Finance (DOF) applies the HPD-approved benefits to real property assessed value and taxes.