§ 52-21 Tax Abatement Credit Adjustment Application.
RCNY § 52-21
A building owner or their designated representative may submit a tax abatement credit adjustment application if they have updated FCA or MCR documentation or if such owner wants to apply for an adjustment to the SCRIE or DRIE recipients TAC amount due to an MCI increase, J-51 tax abatement reduction or a rent discrepancy. An innocent subsequent purchaser of a building or their designated representative may also submit an application if the TAC for the building was reduced after such purchase for a time period prior to such purchaser's acquisition of the building and the purchaser was unaware that an adjustment was appropriate. The TAC amount will be adjusted if such application is approved by the Department. (Added City Record 5/14/2021, eff. 6/13/2021)
