10 year tax abatement (mortgage, how much, lawyer)

[ktkate256]

I got my building and zoning permits in August of last year (rehab construction on an existing residential property). I just now found out about the ten year tax abatement, four months into the new year. The instructions say that an application for the abatement would have had to be been filed by Dec 31st of the year that it was issued. Does this mean there is no possible way I can get this? Is there any way to apply after the deadline for even partial benefit from this?

[FrankInPhilly]

Originally Posted by ktkate256

I got my building and zoning permits in August of last year (rehab construction on an existing residential property). I just now found out about the ten year tax abatement, four months into the new year. The instructions say that an application for the abatement would have had to be been filed by Dec 31st of the year that it was issued. Does this mean there is no possible way I can get this? Is there any way to apply after the deadline for even partial benefit from this?

This being Philly, I'm guessing the answers to both questions are "yes" and "no."

Anytime a question like this is posed, I always think it's OK to seek the Wisdom of the Masses, but the very, very best thing to do is call the agency involved (in your case, the place where you got the permit). They know the rules, they deal with exceptions, and they probably have dealt many times with people who finally really read their forms 7 months after the fact (no disrespect intended - I'd probably be so relieved to have something to sign that I'd just sign & mail the form. On a larger scale: show of hands -> who's ever read every line of their mortgage documents?)

[drive carephilly]

The most productive thing to do would be to figure out your potential savings over 10 years, figure out how much a lawyer would cost then either cut your losses or hire a lawyer.