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 2, 2021
Main taxes: July 5, 2021
Home owner grant: July 5, 2021 (Grant may be claimed once the main tax notice is received.)
2021 home owner grant threshold $1.625 million
In 2021, the home owner grant threshold of assessed or partitioned value is $1.625 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 $1.739 million
- The additional grant is eliminated when the assessed or partitioned value reaches $1.794 million
Note If you qualify for the seniors or other additional grant, but the grant amount has been reduced or eliminated due to the $1.625 million threshold, you may still be eligible for the low income grant supplement External web site, opens in new tab.