J-51 Exemption & Abatement
NYC Admin. Code § 11-243.2; N.Y. Real Property Tax Law § 489(21); Local Law 122 of 2024
Reinstated by Local Law 122 of 2024 under NYC Admin. Code § 11-243.2 and RPTL § 489(21), the reformed J-51 program (the Affordable Housing Rehabilitation Program) provides an as-of-right property tax abatement of a percentage of HPD-certified reasonable rehabilitation costs for eligible residential buildings, conditioned on affordability and rent-regulation requirements. HPD certifies reasonable costs and administers eligibility while the Department of Finance grants the abatement. The reform eliminated the prior J-51 tax exemption on the increase in assessed value, making the renewed benefit an abatement only.
Who must comply
Other HPD regulations
FHA Design & Construction
Fair Housing Act, 42 U.S.C. § 3604(f)(3)(C); 24 C.F.R. § 100.205
LL86 Rent-Stab Notice
Local Law 86 of 2025
Security Deposit Rules
N.Y. Gen. Oblig. Law §§ 7-103, 7-108
HDFC Enabling Law (Article XI)
N.Y. Private Housing Finance Law Article XI (§§ 570 et seq.; § 577)
RPAPL Eviction Proceedings
N.Y. Real Prop. Acts. Law (RPAPL) §§ 711, 731, 733, 749, 768
Rent Increase / Non-Renewal Notice
N.Y. Real Prop. Law § 226-c
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