ICAP
N.Y. Real Property Tax Law §§ 489-aaaaaa to 489-kkkkkk; NYC Admin. Code §§ 11-268 to 11-278; 19 RCNY Ch. 36
ICAP, which replaced the Industrial and Commercial Incentive Program (ICIP) in 2008 (no ICIP applications accepted after June 30, 2008), provides an abatement of NYC real property taxes for up to 25 years for the construction, modernization, expansion, or improvement of industrial and commercial buildings. Applicants must file a preliminary application before obtaining a building permit and make a minimum required expenditure of at least 30% of the property's taxable assessed value within four years of the first building permit. Eligible commercial construction is excluded from the Manhattan "commercial exclusion area" south of the center line of 96th Street.
Who must comply
Other DOF regulations
RPTT Rules (19 RCNY Ch. 23)
19 RCNY Chapter 23 (Rules Relating to the Real Property Transfer Tax)
STAR
N.Y. Real Property Tax Law § 425 (Basic & Enhanced STAR)
Coop/Condo Property Tax Abatement
N.Y. Real Property Tax Law § 467-a
Co-op/Condo Tax Abatement
N.Y. Real Property Tax Law § 467-a; N.Y.C. Admin. Code § 11-245.4; 19 RCNY Ch. 50
NYC Property Tax Classes & Assessment Caps
N.Y. Real Property Tax Law Art. 18 §§ 1801-1806 (esp. § 1802 classification, § 1805 assessment increase caps)
RP-5217NYC Transfer Report
NY Real Property Law § 333 (Real Property Transfer Report — Form RP-5217NYC)
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