Habitat looks at condo tax rebate problems

TRD New York /
Apr.April 28, 2009 02:20 PM

The May issue of Habitat magazine includes an article that focuses on problems
associated with condo tax rebates that generally go under the radar. Each
spring, condo associations receive a consolidated check notice from the city
Department of Finance which gives a rebate amount that is then divided equally
among lot owners. However, since these
notices are sometimes sent out at different times throughout the year — and
many lots have been bought and sold during that time — it often becomes
difficult for associations to track down the rightful recipients of the rebate
shares. If an owner moves out of a space, it becomes his or her responsibility
to look at the city’s unclaimed funds list online. A condo association may
either create an escrow account for the unclaimed rebates, or send a letter to
the last known address of the prior owner letting him or her know that a tax rebate
is available for claiming.


Related Articles

arrow_forward_ios
This Greenwich Village townhouse just sold at auction for $15M

This Greenwich Village townhouse just sold at auction for $15M

Real estate’s red tape nightmare

Real estate’s red tape nightmare

Welcome to the $1.16 trillion skyline

Welcome to the $1.16 trillion skyline

How NYC accidentally gave away $10M in tax breaks: VIDEO

How NYC accidentally gave away $10M in tax breaks: VIDEO

NYC’s Finance Department to lease 175K sf at former Verizon Building

NYC’s Finance Department to lease 175K sf at former Verizon Building

Landlords hit with hefty fines for failing to file tax form

Landlords hit with hefty fines for failing to file tax form

Placeholder image

City property taxes for residences set to jump in 2015

From left: East New York, Park Slope

Pricey nabes pay less in property taxes: report

arrow_forward_ios