Renewed J-51 Tax Break Brings Hope for Affordable Housing and Climate Goals
A revamped version of the J-51 property tax abatement program, once a point of controversy, has returned to New York City, aiming to help both landlords renovate affordable housing stock and achieve the city’s ambitious climate goals. Major changes to regulate landlords, along with a focus on affordability requirements and the pressing need to compliance with Local Law 97, aim to rectify past criticisms
of this once-controversial program.
Façade of a co-op.
