New York City Industrial and Commercial Abatement Program
Up to 25 years of property tax abatement on NYC commercial, industrial, community facility and transient hotel construction
New construction and renovation both qualify. ICAP abates the property tax increase the work would otherwise trigger. Type the address, answer three questions, and see where your project stands before you spend a dollar on filings.
ICAP applications close March 1, 2029; permits by April 1, 2029.
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NYC property tax specialists since 2008.
Planning new construction or a renovation on a nonresidential property in New York City? Here is what ICAP covers, who qualifies, what you must spend, and the one deadline that cannot be recovered.
- Up to 25 years
- the longest ICAP abatement schedules, for industrial projects and special commercial abatement areasRPTL Article 4, Title 2-F
- 30%
- of taxable assessed value is the minimum required spend, within four years of the first building permitRPTL Article 4, Title 2-F
- March 1, 2029
- is the last day ICAP applications are accepted, and permits must issue by April 1, 2029
Read the detail
Four guides covering what the abatement does, who qualifies for it, how the filing is run, and the questions owners ask most. Every rule in them comes from the ICAP statute or the city’s own guidance.
- What does ICAP actually do?The abatement, what it is computed from, the uses it reaches, and the one deadline that cannot be recovered.
- Who qualifies for ICAP?The four tests that decide most projects: where the property is, what you spend, what the building will be used for, and when you file.
- How MGNY handles an ICAP filingFrom the first call through the preliminary application, the filings during construction, and the years of benefit after.
- Questions owners are askingStraight answers on what ICAP is worth, renovations, mixed-use, transient hotels, community facilities and permits already pulled.
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Your real deadline is your first permit. Talk to us before you pull it.
The program closes to new applications on March 1, 2029, but nearly every project’s window closes earlier, on the day its first building permit is issued. A short call is enough to confirm eligibility, size the benefit from your numbers, and get the filing moving ahead of the permit.