Besides the 421A, 421G and J-51 tax abatements for new buildings or conversions there is a simple tax abatement that all can utilize when you don’t have access to the previously mentioned tax breaks.
The department of finance offers a 17.5% tax abatement (for most depending on factors in chart below) for basically anyone with the condo/coop tax abatement. All you need to do is apply via the form to get this benefit. All established buildings will have had the managing agent take care of their part to clear the way for individual condo owners to get the abatement. In coops it is applied to the building’s taxes so only the managing agent will need to handle this function.
From department of finance:
A partial tax relief for owners of condominium and cooperative units. This reduces the difference in property tax between condo/co-ops and 1-, 2-, and 3-family homes. The Board of Directors, Managing Agent, or other official representative of a development must complete the Condominium/Cooperative Property Tax Abatement application for the entire development. 
More information for coop and condo managing agents
The abatement is granted based on the average assessed value of the eligible units in the building. Shareholders may not own more than three units in the development. Units held by sponsors are not eligible.
Abatement percentages are granted according to the following table:
| Average Assessed Value Per Unit | Fiscal Year | Abatement |
| Less than or equal to $15,000 | 1999 and after | 25 % |
| 1998 | 16 % | |
| 1997 | 4 % | |
| Greater than $15,000 | 1999 and after | 17.5 % |
| 1998 | 10.75 % | |
| 1997 | 2.75 % |
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