Exemption Renewals

A New York City property tax benefit is not granted once and kept forever. The Department of Finance requires owners receiving the ICAP abatement, the ICIP exemption, or the not-for-profit exemption to certify, on DOF’s schedule, that the property still qualifies. DOF calls this filing the Certificate of Continuing Use, or CCU. Miss it, and the Department of Finance can suspend the benefit pending the filing. MGNY Consulting tracks these deadlines and prepares and submits the renewals for its clients.

What is the Certificate of Continuing Use?

The Certificate of Continuing Use is the Department of Finance’s renewal filing for ongoing property tax benefits. It confirms that the property continues to be used in a way that qualifies for the benefit it receives. It is not one combined form: each program has its own filing in DOF’s SmartFile system, and the schedules differ.

• ICAP (Industrial and Commercial Abatement Program): the CCU must be filed every two years for the life of the abatement.
• ICIP (Industrial and Commercial Incentive Program): participants must complete a certificate of continuing use each year to retain the benefit. The program has been closed to new applicants since 2008, but existing benefits continue as long as renewals are filed.
• Not-for-Profit exemption: every borough-block-lot receiving a full or partial NFP exemption must renew annually, confirming the property is still used for exempt purposes.

Who must file?

Any property currently receiving one of these benefits has a renewal obligation: commercial and industrial buildings with an active ICAP abatement, properties still carrying a pre-2008 ICIP exemption, and every property with a not-for-profit exemption, including synagogues and other houses of worship, schools, hospitals, and charitable organizations. Owners with several benefited properties file for each one. An owner who recently bought a building with an existing benefit inherits the renewal obligation with it.

When are renewals due?

The due date to renew is January 5 for the tax year that begins the following July 1. The filing window opens in the fall, when DOF’s SmartFile portal begins accepting renewals for the coming cycle. DOF has also accepted late renewal filings until March 1; for the 2026/27 cycle that late window ran to March 1, 2026. Waiting for the late window is a risk, not a plan: the safe practice is to file within the regular period.

What does DOF ask for?

Renewals are filed online through DOF’s SmartFile system and require an NYC.ID account. The filing confirms the property’s continued qualifying use: for ICAP and ICIP, continued eligible commercial or industrial use of the improved property; for the not-for-profit exemption, that the property is still owned by the organization and used for exempt purposes under the Real Property Tax Law. A property whose use has changed, been partially leased out, or been altered must report that accurately on the renewal.

What happens if you miss the filing?

Failure to renew jeopardizes the benefit for the succeeding tax year: the Department of Finance can suspend the abatement or exemption pending the filing, and the property returns to full taxation until the certificate is brought current. A suspended benefit shows up as a higher taxable assessed value on the next roll, and the added tax can reach the full value of the abatement or exemption for that year. Restoring a suspended benefit is a slower and harder process than renewing on time. For an ICIP property the stakes compound: the program is closed to new applicants, so a benefit that is lost cannot be reapplied for.

How does MGNY handle renewals?

MGNY Consulting maintains the renewal calendar for its clients’ portfolios across all three programs, prepares each SmartFile submission, and files before the deadline. If a property also has other DOF obligations, such as an annual RPIE filing, MGNY coordinates them under one compliance calendar. For eligibility questions on the underlying benefits, see the ICAP application and not-for-profit exemption pages, or call (212) 343-1111.

Frequently asked questions about benefit renewals

Which properties must file a certificate of continuing use in NYC?

Properties receiving the ICAP abatement, the ICIP exemption, or the not-for-profit property tax exemption. Each program has its own renewal filing in DOF’s SmartFile system.

When is the certificate of continuing use due?

Renewals are due January 5 for the tax year beginning the following July 1. DOF has accepted late renewal filings until March 1, but relying on the late window puts the benefit at risk.

Is the ICAP certificate of continuing use annual or biennial?

Biennial: the ICAP CCU is filed every two years for the life of the abatement. ICIP and not-for-profit renewals are annual filings.

What happens if a certificate of continuing use is not filed?

The Department of Finance can suspend the benefit pending the filing. The property can return to full taxation for that year, and restoring a suspended benefit is more difficult than renewing on time.

Can MGNY file the renewals for all three programs?

Yes. MGNY prepares and files ICAP, ICIP and not-for-profit renewals through DOF’s SmartFile portal and tracks each property’s cycle so deadlines are not missed. Call (212) 343-1111.

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