485-x ANNY (Affordable Neighborhoods for New Yorkers Tax Incentive)

485-x: Affordable Neighborhoods for New Yorkers Tax Incentive (ANNY)

The new Affordable Neighborhoods for New Yorkers program supports affordable housing in New York City. Replacing the expired 421-a program, this program aims to provide property tax exemptions for construction of new multiple dwelling units and completed affordable units. Updated income requirements, construction wages, and permanent affordability have been implemented. Multiple dwelling and homeownership projects containing six or more residential units commenced after June 15th, 2022 up to June 15th, 2034 with completion by June 15th, 2038 can qualify if they meet the applicable requirements. All prospective applicants must submit the Applicant Registration Form to HPD no later than six (6) months after the Commencement Date (or if the Commencement Date is prior to April 20, 2024, on or before December 14, 2024).

Please note that there are filing fees per dwelling unit due to HPD (Housing Preservation and Development) at certain times during the construction and application process.

HPD is currently updating certain application forms for ANNY Program Benefits and will amend documents and rules as needed on an ongoing basis.

To learn more, please fill out the contract form below and a member of our team will get back to you promptly.

SEND US A MESSAGE

Have a question or need assistance with your property taxes? Fill out the form below, and one of our team members will respond promptly. For faster service, you can also reach us by phone.

For general inquiries or to discuss a property tax appeal, call 718-273-3080 ext: 1. For help with incentive programs such as ICAP or 421-a, contact 718-273-3080 ext: 2.

We’re here to help you navigate New York City’s complex real estate tax landscape—reach out anytime.

New York Real Estate Tax Services – Trusted NYC Property Tax Experts for Over 30 Years

For more than three decades, New York Real Estate Tax Services (NYRETS) has been helping commercial property owners navigate the complex world of New York City real estate taxation. With deep roots in the city and firsthand experience within the NYC Department of Finance, our team provides specialized tax consulting across all five boroughs.

We offer comprehensive support for a wide range of services, including annual property tax appeals (certiorari), tax estimates for new developments and alterations, RPIE statement preparation, and guidance on key incentive programs such as ICAP, 421-a, 467-m, and 485-x. Whether you're planning a new project or managing an existing portfolio, we’re here to protect your bottom line.

At NYRETS, our clients benefit from insider-level knowledge of city tax policies, dependable results, and a commitment to accuracy. Every case is handled directly by our experienced team—ensuring personal attention and reliable outcomes. We don’t just prepare paperwork—we help you make informed, strategic decisions.

Contact us today to speak with one of our tax consultants and learn how NYRETS can support your property’s long-term success.

Contact NYRETS:

Phone: (718) 273-3080
Fax: (718) 816-4915

Our Location:

Address: 36 Richmond Terrace,
Suite 108
Staten Island, NY 10301 [map]

Hours:

Monday to Friday: 9:00 AM to 5:00 PM