Speaker Menin discusses J-51 tax abatement extension
Speaker Menin highlights Council Member Pierina Sanchez's bill to extend the J-51 tax abatement for co-ops, condos, and rental buildings, benefiting up to 300,000 units and aiding retrofits.
Another bill introduced by Councilmember Pierina Sanchez will extend the J-51 tax abatement for certain co-ops, condos, and rental buildings, benefiting up to 300,000 of them.
This legislation will make it easier to preserve and retrofit our city's stock of aging buildings at a time when the cost of housing has truly skyrocketed,
making it more affordable to complete repairs without shifting the burden onto tenants.