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Form 421B Application for Partial Tax Exemption for New Construction or Substantial Rehabilitation of Owner-Occupied One- and Two-Family Homes - New York City
What Is Form 421B?
This is a legal form that was released by the New York City Department of Finance - a government authority operating within New York City. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form 421B?A: Form 421B is an application for partial tax exemption for new construction or substantial rehabilitation of owner-occupied one- and two-family homes in New York City.
Q: Who can apply for the tax exemption?A: Owners of one- and two-family homes in New York City who are also occupying the property as their primary residence can apply for the tax exemption.
Q: What is the purpose of this exemption?A: The purpose of this exemption is to provide financial relief to homeowners who have made significant improvements to their property.
Q: What does 'partial tax exemption' mean?A: 'Partial tax exemption' means that the homeowner will only have to pay a reduced amount of property taxes based on the assessed value of their home after the improvements.
Form Details:
- Released on April 12, 2012;
- The latest edition provided by the New York City Department of Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form 421B by clicking the link below or browse more documents and templates provided by the New York City Department of Finance.
Download Form 421B Application for Partial Tax Exemption for New Construction or Substantial Rehabilitation of Owner-Occupied One- and Two-Family Homes - New York City
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