Property taxes for co-ops are based on their tax rate and your unit share of the co-op itself.
If you own a share in a co-op, you may be eligible to claim a Home Owner Grant to reduce the property taxes you pay.
Property tax due dates
Advance taxes: February 4, 2020
Main taxes: September 2, 2020
Home owner grant: July 3, 2020
How to apply for a home owner grant
Co-op owners need to:
- Instruct your eligible occupant(s) to complete and submit the Application for Home Owner Grant - Eligible Occupants (FIN 68) External web site, opens in new tab to you.
- Use the information provided on the completed Application for Home Owner Grant - Eligible Occupants (FIN 68) forms to complete the Multiple Home Owner Grant Online Application External web site, opens in new tab.
- Print two copies of your completed Multiple Home Owner Grant Application.
- Send one of the printed copies of the Multiple Home Owner Grant Application and the completed Application for Home Owner Grant - Eligible Occupants (FIN 68) forms to the Property Tax office by the due date to avoid late penalty charges.
2020 home owner grant threshold $1.525 million
In 2020, the home owner grant threshold of assessed or partitioned value is $1.525 million. The grant is reduced by $5 for each $1,000 above the threshold.
- The basic grant is eliminated when the assessed or partitioned value reaches $1.639 million
- The additional grant is eliminated when the assessed or partitioned value reaches $1.694 million
If you qualify for the seniors or other additional grant, but the grant amount has been reduced or eliminated due to the $1.525 million threshold, you may still be eligible for the low income grant supplement External web site, opens in new tab.