Habitat looks at condo tax rebate problems

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.