Instructions for Form RP-421-F Application for Real Property Tax Exemption for Capital Improvements to Residential Property - New York

Instructions for Form RP-421-F Application for Real Property Tax Exemption for Capital Improvements to Residential Property - New York

This document contains official instructions for Form RP-421-F , Application for Capital Improvements to Residential Property - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form RP-421-F is available for download through this link.

FAQ

Q: What is Form RP-421-F?
A: Form RP-421-F is an application for real property tax exemption for capital improvements to residential property in New York.

Q: Who can use Form RP-421-F?
A: Homeowners in New York who have made qualifying capital improvements to their residential property can use Form RP-421-F.

Q: What is the purpose of Form RP-421-F?
A: The purpose of Form RP-421-F is to apply for a tax exemption on the increased assessed value of residential property due to capital improvements.

Q: What are capital improvements?
A: Capital improvements are permanent additions or alterations made to residential property that increase its value, such as adding a new room or renovating a kitchen.

Q: How long is the tax exemption period?
A: The tax exemption period varies depending on the type of improvements, but it is generally 8 to 12 years.

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Instruction Details:

  • This 2-page document is available for download in PDF;
  • Actual and applicable for the current year;
  • Complete, printable, and free.

Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the New York State Department of Taxation and Finance.

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