Deadlines Loom to Offset Renovation Costs With New J-51 (NY)

/ Owner - January 2, 2025

The clock is ticking for boards hoping to take advantage of the newly passed J-51 rules to offset their co-op and condo renovation costs. With the mayor’s signature on December 18 setting the new legislation into law, boards face a tight timeline: applications must be filed within four months of either the law’s effective date or a project’s completion. “If your work is already done, the application filing deadline is April 18, 2025,” explains attorney Benjamin Williams, head of the property tax department at Rosenberg & Estis.     Read the article…………………………….

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