|
The ICAP program provides abatements of real property taxes for varying periods up to 25 years for eligible industrial and commercial buildings that are built, modernized, rehabilitated, expanded, or otherwise physically improved.
- What it is: Property tax abatement for renovation or construction (successor to the ICIP program)
- When to apply: Prior to building permit or renovation
- Who is eligible: Industrial and commercial businesses. Various restrictions on retail activity depending on location
- Which agency: New York City Department of Finance (DOF)
Get more information about or apply for ICAP in the New York City Department of Finance section of the City’s Website.
|