COOPERATIVE Property Tax Abatement
Renewal & Change Form

Managing agents are legally required to renew the Cooperative and Condominium abatement for their properties every year. You can file online using the Online Change Form.

In December of each year, the Department of Finance mails Tax Benefit reports to boards and managing agents outlining each unit's tax savings for personal exemptions and the Cooperative and Condominium property tax abatement. Beginning in December, the Department of Finance will mail Tax Benefit reports to condominium boards and managing agents with each unit's Cooperative and Condominium property tax abatement.

If there are no changes to the Tax Benefit report, managing agents can renew the abatement for all eligible unit owners by checking the box on the online form stating that there are no changes.

If there are changes or updates to any units, managing agent must submit all changes, then sign and submit the form online. If a Change Form was already submitted to the Department of Finance for the upcoming tax year (e.g. 25/26) and there are no other changes, managing agents do not have to resubmit the form.

Change forms will satisfy the annual renewal requirement.

Cooperative and Condominium Tax Benefit Changes are due on February 15, 2025. Managing agents, follow these steps to submit your changes successfully:

• Remember that owners with more than three units within a development are not eligible for the abatement.
• Refer to your most recent benefit breakdown report when making updates.
• Before submitting, confirm that the information you have provided for each unit is correct, especially apartment number, Social Security number, and name.
• You will need to upload documentation, such as a stock certificate, if units have been combined or added, or if any sponsors or shares have changed. Stock certificates must be typed (not handwritten).
• If you are the building’s new managing agent, please upload a signed copy of your contract.
• If you must submit a paper change form , type your updates rather than hand-writing them.