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My 3 family building may get this 421a tax exemption, but with slightly lower than market rate initial rents. I understand that one can raise the rent 2.2% plus the 421a 2.2% increase, but what about for vacancies? After a vacancy, can one raise the unit’s rent 17.75% like normal rent-stabilized apartments? Any help would be appreciated. Thanks.


I am looking for a tax accountant in Brooklyn.

I bought a house through an LLC. I want to do everything right from the start with renovation and future rental income – need a tax lesson.

Do you know someone who is a regular person, not a robot?



So, we are pretty close to getting this completed with the roof rights. Attorney papers, architect papers. One question I do have is, will our property taxes be affected once we actually have roof rights? I spoke with somebody at the city register who handles the filing and he told me our property taxes will be recalculated because of the additional limited common element (roof) space.

Does anybody here have any experience with that and know possibly how much extra $ we will be looking at in taxes?

Thanks very much!


I have a new property that just had it’s 421a tax approved, and need to petition to have the rents re-set with HPD. If anyone knows an expediter or attorney that has experience with such a matter, it would be appreciated. Thanks!


Can anyone run down the ways that owning a multi-family house plays out re taxes?

-how do you calculate which parts of construction are for the rentals and which are for your own unit, for somthing like a boiler, the exterior, roof, etc?

-do you have to pay taxes on any profit you make on your rental?

-is it a big difference between one unit or two?



Has anyone had their 421a tax abatement application (filed July 2007) rejected from HPD? I was told mine was, but the consulting company (HFC)has done nothing to cure the original defects in the app. The HPD insists that I am not the “client” but rather the developer is and HFC.

I cannot get a copy of the “file” since despite being the owner of the home for 3 years, I have no right to it.

Anyone else have this problem with 421a apps?



I’ve been looking at the possibility of converting an all commercial building into mixed use and was wondering if the taxes would change with the use? Both buildings I’m looking at are in R-5 zones with a commercial overlay. Also, how annoying will it be to convert them? It seems pretty straightforward, but I do understand it takes time, becoming code complaint, and legal/filing fees.

Thanks in advance!


For years I have used my family accountants outside of NYC, but now that I am proud building owner with tenants I believe I would rather use an accountant more knowledgeable about NYC taxes. Do any other property owners have a good one in Brooklyn or the city they would like to recommend.

Thank you very much.


Help. My property tax assessment is way out of wack. I renovated an SRO, so the original rate was higher. Now that the tax department knows I have a 2 family, my taxes should have gone down. Instead, they went up, and more than 6%. Does anyone have any experience protesting their assessment or the name of a lawyer they have used for a single family home? Thanks.


This is going to be interesting……
I’m surprised this isnt making bigger news – any thoughts?

Btw if you want to parse the whole ruling –