The Industrial and Commercial Abatement (ICAP) program provides abatements of property taxes for varying periods of up to 25 years for eligible industrial and commercial buildings that are built, modernized, rehabilitated, expanded, or otherwise physically improved.
The Industrial and Commercial Incentive Program (ICIP) exemption ended in 2008. However, benefit recipients must complete a renewal (Certificate of Continuing Use, CCU) to renew the exemption. You must renew every two years.
The deadline to file an application for ICAP benefits is March 1, 2025.
The deadline to file an ICAP application for energy rebates is March 1, 2025.
ICAP benefits will not be granted for construction work under building permits that are issued after April 1, 2025. If a building permit isn't required, ICAP benefits will not be granted for construction work that starts after April 1, 2025.
You can get more information, review FAQs, and fill in and print the application form on DOF's website. You can also verify your application status on the Property List page.
Learn more about the program and how to apply.
You must submit a Certificate of Continuing Use (CCU) for your ICIP exemption every year, and you must renew your ICAP property tax abatement every two years.
The Department of Finance (DOF) mails notices to recipients when it is time to renew and includes an Entity ID so you can renew online. You must create an NYC.ID online account to renew.
You do not need the building or tax class numbers to renew online.
The deadline to renew for 2024/2025 is January 5, 2024. If DOF doesn’t receive your renewal, you will automatically lose the benefits and your property taxes will increase starting July 1, 2024.
For more information about your benefits or to get your Entity ID, contact DOF online.
Contact the Department of Finance.
You can get help with your benefits, including, benefit history, benefit calculations, and forms.