Benefits may be reduced if approved abatements for eligible buildings exceed $25 million. The City has budgeted a total of $25 million for this property tax abatement. To claim the credit, the computed amount must exceed 250. Under this option, qualifying persons may receive a 5 exemption if their income is below 58,400. The amount of the credit is the product of the amount of real property tax which exceeds 6 of the taxpayer’s qualified gross income (QGI), and a specified rate based on the taxpayer’s QGI. Localities have the further option of giving sliding scale exemptions of less than 50 percent to persons with disabilities whose incomes are more than 50,000. The New York City average benefit will be about 425, with benefits reaching another 479,000 property tax-paying households. The abatement is spread over five years, so the maximum abatement amount per year for properties in a childcare desert is up to $15 per square foot, or up to a total of $45,000, and the maximum amount per year for other properties is up to $7 per square foot, or up to a total of $20,000. The income limit may be as low as 3,000 and as high as 50,000. Online payment option available 24 hours a day, 7 days a week. Monday - Friday: 8:30 am - 4:30 pm: Business Center hours. Individuals may pay their New York City property tax online, by mail, or in-person. If property is not in a childcare desert, owners may be eligible for a property tax abatement of up to $35 per square foot, or up to a total of $100,000. Banking & credit unions Bankruptcy prevention Credit & debt management Savings accounts & loans Tax preparation Public benefits.If a property is in a childcare desert, owners may be eligible for a property tax abatement of up to $75 per square foot, or up to a total of $225,000.You can use this map to determine whether your center is in a childcare desert. The capped amount depends on whether the seats were created in a childcare desert, a designation that is determined by the New York State Office of Children and Families (OCFS).Ī childcare desert is a census tract where there are three or more children under five years old for each available childcare slot, or where there are no available childcare slots. The abatement amount is equal to the reasonable construction expenses associated with the creation of new childcare seats in a childcare center, subject to a cap.

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