The City Council Committee on Housing and Buildings recently approved legislation sponsored by two Queens lawmakers that will extend the J-51 property tax exemption and abatement program and provide relief to property owners for renovating a residential apartment building, rental, co-op or condo, or for converting commercial structures into residential units.
The bill, which passed the state Legislature in June and is sponsored by Senator Toby Ann Stavisky and Assemblyman Edward Braunstein, authorized the Council to extend the exemption to June 30, 2022, so more property owners can take advantage of it.
