ICIP Every Year, ICAP Every Two Years: Reading the Renewal Cycle Off Your Own Bill
Michael Geylik
September 16, 2026
ICIP's Certificate of Continuing Use (CCU) is filed every year and ICAP's every two years, both by January 5. The bill names the benefit. Call (212) 343-1111.
Updated September 28, 2026. ICIP certificates are filed every year and ICAP certificates every other year, and the 2027/28 certificates are due January 5, 2027. The Department of Finance opened the new season’s filings in September.
Two of the city’s commercial benefit programs, the ICIP exemption and the ICAP abatement, are renewed on different schedules. The ICIP certificate is filed every year and the ICAP certificate every other year. Both are due January 5 through the same Department of Finance (DOF) portal, which is why owners confuse them. The first step is to confirm which benefit the property has.
Which benefit is on the property?
Three records identify the benefit:
- Property tax bill: Any exemption or abatement on the property is shown on the bill the owner already pays.
- DOF renewal notice: The notice names the program and carries the Entity ID that opens the filing.
- Program history: ICAP replaced ICIP when ICIP ended in 2008, so a benefit on later work is ICAP and one still running from the earlier period is ICIP.
The two benefits also appear differently on the bill. An ICIP exemption lowers the assessed value used to calculate the tax, while an ICAP abatement is subtracted from the tax itself. According to DOF, the exempt value does not include abatements, which are subtracted from the annual property tax amount.
ICIP: a certificate every year
DOF’s filing description states that participants in the Industrial and Commercial Incentive Program must complete a certificate of continuing use (CCU) each year to retain the benefit, so no year is skipped and there is no alternating cycle. Next to its renewal instructions, DOF’s ICIP page states that the exemption ended in 2008 and that benefit recipients can complete a Certificate of Continuing Use to renew their exemption. Please note that an owner whose ICIP exemption comes off the roll cannot apply for a new one, which is why the annual filing matters.
ICAP: a certificate every other year
The ICAP schedule is set in DOF’s rule rather than only in its instructions. Under 19 RCNY section 36-13(a), an ICAP benefit recipient must file a certificate of continuing use on or before the January 5 taxable status date every other year for the duration of the benefit period. Each certificate states any changes in the structure or use of the property since the previous submission.
The rule also sets the timing, with the first certificate filed after the first year benefits are received and the next after the third. DOF’s filing type describes the certificate as filed for the life of the abatement.
Construction work on a peaking unit is the exception, and ICAP recipients receiving benefits for that work file twice, on or before January 5 and July 5 of each year.
One date, two schedules
The due date for both certificates, and for the not-for-profit renewal, is January 5. DOF’s not-for-profit renewal instructions state that the due date to renew is always January 5 for the tax year that begins the following July 1. For the coming cycle, the 2027/28 certificates are due January 5, 2027. The programs differ only in the filing year, with ICIP due by January 5 every year and ICAP in alternating years.
A late window last season
Into September 2026, DOF’s ICAP and ICIP pages carried a standing sentence: “We are accepting late renewal filings until March 1.” Both now read “The 2027-2028 renewal period has begun,” with no word yet on a late window. It was a late window rather than a second deadline, since a filing made in it arrives after the taxable status date in the rule.
How does MGNY keep the cycles straight?
MGNY Consulting keeps the program, cycle and application number of each client property in one renewal calendar, which flags an ICAP lot that filed last January for the year after and an ICIP lot every year. The deadline and what follows a missed filing are explained in the January 5, 2027 deadline post. The Exemption Renewals page describes the renewal service, and the ICAP page the abatement itself. Please call (212) 343-1111 with the property address and the benefit shown on the bill.
Frequently asked questions
Is the ICAP certificate of continuing use (CCU) annual or every two years?
The ICAP certificate is filed every other year. Under 19 RCNY section 36-13(a), the filing is due in alternating years, on or before the January 5 taxable status date, for as long as the benefit period lasts.
How often is the ICIP certificate of continuing use (CCU) filed?
The ICIP certificate is filed every year. In its filing description, the Department of Finance states that participants in the Industrial and Commercial Incentive Program must complete a certificate of continuing use each year to retain the benefit.
Which benefit does a building have, ICAP or ICIP?
Both the property tax bill, which shows any exemptions or abatements, and the renewal notice from the Department of Finance name the benefit, and the notice also carries the Entity ID. Since ICIP ended in 2008 and ICAP replaced it, a benefit granted on later work is ICAP.
Do ICAP and ICIP share the same deadline?
ICAP and ICIP share a deadline. The date is January 5 for the tax year that begins the following July 1, which puts the 2027/28 certificates on January 5, 2027. The Department of Finance accepted late filings until March 1 last season.
Can MGNY file both renewals?
MGNY prepares and files both renewals, as well as not-for-profit renewals, through the Department of Finance SmartFile portal and tracks each property’s cycle. MGNY can be reached at (212) 343-1111.
What does it cost to ask MGNY?
Nothing. A real person answers at (212) 343-1111, right away, and the consultation is free. You engage us only if you want the filing handled for you. MGNY has worked NYC property tax since 2008, with nearly $300M in tax savings secured for owners, 900+ developments with tax abatements secured and $30B+ represented in appeals.
Every year or every other year? The tax bill names the benefit, and MGNY can confirm the cycle.
Call (212) 343-1111 or see the Exemption Renewals page and the ICAP page.
Sources, all read September 28, 2026: NYC Department of Finance, the SmartFile filing descriptions for the ICAP and ICIP certificates of continuing use, Industrial & Commercial Abatement Program (ICAP), Industrial & Commercial Incentive Program (ICIP), the final ICAP rules, 19 RCNY section 36-13, the not-for-profit Renewing Your Benefit page, Bills and Payments, Calculating Your Annual Property Tax and A User Guide to the ICIP (Online Renewals). MGNY Consulting is a private consulting firm and is not affiliated with the NYC Department of Finance or the NYC Tax Commission.
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