co-op

Co-op, condo owners have one month before city can take away tax abatement
News Melissa Chan 3/14/2013 at 5:04PM

Some co-op and condo owners have one month to prove their residency before the city takes away their tax abatement benefits. According to co-op leaders, a large number of residents have received a notice in the mail from the city’s Department of Finance (DOF) stating they have until April 1 to verify their apartment unit [...]

Legislators come thru for co-op, condo owners
News Melissa Chan 12/18/2012 at 1:33PM

State leaders will end up keeping their pledge to co-op and condo shareholders in the city. According to Governor Andrew Cuomo and Assembly Speaker Sheldon Silver, the Legislature has reached an agreement on tax relief legislation and will sign it into law when officials return to Albany. The city will also issue tax bills based [...]

Legislature leaves co-op, condo owners in the lurch
News Melissa Chan 11/29/2012 at 2:00PM

City co-op and condo owners may have to ante up more in taxes after lawmakers said the state Legislature may not reconvene this year to pass promised relief. “We had hoped the Legislature would meet and pass the annual abatement. It looks like we’re not going back,” said State Senator Tony Avella. “It’s going to [...]

‘Landmark’ tax relief on the way for co-op and condo owners
News Melissa Chan 7/05/2012 at 9:29AM

Co-op and condo owners left in the lurch after state lawmakers originally closed the year’s session without passing key pieces of legislation will not be forsaken for long, officials pledged. The Assembly, Senate and Governor Andrew Cuomo have reached an agreement on “landmark” tax relief legislation that will be signed into law later this year [...]

Co-op, condo owners left in the lurch
News Melissa Chan 6/28/2012 at 5:02PM

City co-op and condo owners were dealt a major blow by the State Legislature after lawmakers wrapped up the year’s session without passing three key bills, including one that would put a halt to skyrocketing property tax valuations. “Three strikes and you’re out. This was a disastrous session if you’re a co-op or condo owner,” [...]

Kew Gardens co-op Parkway Village now historic
Kew Gardens co-op Parkway Village now historic
Central Melissa Chan 5/31/2012 at 12:00PM

Parkway Village in Kew Gardens Hills — deemed worthy of preservation — has joined the nation’s official list of historic places. “As a community struggling to survive and flourish in challenging economic times, it is gratifying for long-time Parkway residents like me to witness the official recognition of Parkway Village’s illustrious history,” said Judith Guttman, [...]

Audit finds co-op, condo property values inflated
Audit finds co-op, condo property values inflated
News Melissa Chan 4/17/2012 at 4:07PM

A series of missteps by the Department of Finance (DOF) caused drastic upward swings in co-op and condo property taxes, according to two audits released by the city’s comptroller office. “The department failed to adequately explain significant changes it was making in the calculation of market values. What’s more, in numerous cases, they assigned arbitrary [...]

This Morning’s Headlines
Relief proposed for co-op owners
News Melissa Chan 3/13/2012 at 12:27PM

New legislation may lighten the load on co-op owners, while leaving their wallets heavy. According to Senator Toby Ann Stavisky and Assemblymember Ed Braunstein, property owners can currently fight city tax assessments through a “certiorari” process, but they said it is often costly and incurs “excessive legal fees.” “As a co-op shareholder, I understand this [...]