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What is NYC AC § 11-255?

Quick Answer

This section establishes that projects with prior certificates of eligibility approved by the board before the enactment of this statute are eligible for tax exemptions based on the tables and formulae in effect at the time of approval. Applies to property owners with previously approved projects.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-255 Prior certificates of eligibility.

AC § 11-255

Any project for which a certificate of eligibility has been approved by the board prior to the enactment of this section shall be eligible for a tax exemption computed according to the tax exemption tables and formulae in effect on the date of such approval.

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