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Old 11-16-2020, 12:46 PM
 
603 posts, read 599,505 times
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What happens when the 421a Tax ends for your building?

Do our rents go back up to market rate? And how long do these 421a tax benefits usually last?

THANKS IN ADVANCE!
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Old 11-16-2020, 02:35 PM
 
603 posts, read 599,505 times
Reputation: 214
After digging around, seems like the rent goes up to market rate after 421a is over. Keep that in mind, plan ahead.
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Old 11-16-2020, 03:53 PM
 
Location: Eric Forman's basement
4,771 posts, read 6,560,761 times
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The marketing agent should be able to tell you. Also, it should be in your lease. In my friend’s lease, it is clearly spelled out.

Affordability usually lasts 20 years but could be longer.
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