The VA document must specifically state permanent and total disability resulting from military service. “100%” alone may not be equivalent.
NYC veteran tax edge · research lab
Find the tax burden.
Keep the edge.
A screening and underwriting lab for Manhattan and Brooklyn homes whose asking prices may be depressed by unusually high property taxes—without mistaking a tax anomaly for a bad building, illegal layout or maintenance trap.
The legal gate
The state law is real. The NYC benefit is not yet bankable.
Do not bid as though the full tax bill is already zero.
RPTL §458-a(11) is a local-option law. As of July 16, 2026, this research did not locate enacted NYC adoption, and NYC Finance’s veterans page did not list the new full exemption. Treat every exemption result below as a contingent scenario—not a forecast, entitlement or legal opinion.
The City must enact the option and publish an application and administration path.
The qualifying home must be the veteran’s primary residence; any nonresidential portion remains taxable.
The statute applies to taxable-status dates on or after Oct. 1, 2026. Any NYC benefit start date remains to be confirmed.
Candidate board
Where the ratio breaks 2%
Snapshot, not an exhaustive feed. Verify status, actual tax bill, assessment and building documents before acting.
| Property | Ask | Tax ratio | Property tax | Non-tax carry | Tax share | Last verified | Why it may be cheap |
|---|---|---|---|---|---|---|---|
| 50 Pine PH12SActive · exactly $1M · $370/ft² | $1,000,000 | 4.84% | $4,030/mo$48,360/yr | $3,287/moCC $3,287 | 55% | 2026-07-16Tax bill needed · Docs needed | Terrace / tenancyReported area includes a large terrace; tenant reportedly through Jan. 2027. |
| 55 Wall #520Active · $613/ft² | $1,250,000 | 3.77% | $3,931/mo$47,172/yr | $4,400/moCC $4,400 | 47% | 2026-07-16Tax bill needed · Docs needed | Maintenance trapVery high common charges and long market time. |
| 50 Pine PH12NActive · $679/ft² | $1,495,000 | 3.24% | $4,042/mo$48,504/yr | $4,772/moCC $3,309 + $1,463 assessment | 46% | 2026-07-16Tax bill needed · Docs needed | Assessment-heavyLocal Law 11 assessment reportedly runs through Sep. 2028; deep price cuts. |
| 55 Wall #530Active · $875/ft² | $1,795,000 | 2.63% | $3,927/mo$47,124/yr | $4,459/moCC $4,459 | 47% | 2026-07-16Tax bill needed · Docs needed | Maintenance trapVery high common charges may absorb much of the tax edge. |
| 50 Pine #2Active · $660/ft² | $1,800,000 | 2.44% | $3,659/mo$43,908/yr | $2,512/moCC $2,512 | 59% | 2026-07-16Tax bill needed · Docs needed | Use / financingFull-floor live/work; verify legal residential use and lenderability. |
| 15 Broad #1630Active · $776/ft² | $1,100,000 | 2.24% | $2,051/mo$24,612/yr | $1,620/moCC $1,620 | 56% | 2026-07-16Tax bill needed · Docs needed | Layout discountStudio with interior rooms; no conventional legal bedrooms. |
| 75 Wall #24PActive · $1,108/ft² | $1,248,000 | 2.04% | $2,122/mo$25,464/yr | $1,473/moCC $1,473 | 59% | 2026-07-16Tax bill needed · Docs needed | Cleaner screenOnly just clears the screen; comparatively clean fixed carrying cost. |
Interpretation
What the screen is really finding
The bill may be ordinary while price has collapsed for another reason. The ratio rises because the denominator falls.
Class 2 assessments can move more slowly than today’s resale market, leaving taxes anchored to an earlier valuation world.
Lofts and older FiDi conversions can hide use, sponsor, financing, unit-allocation or hotel-service quirks.
Common charges, façade assessments, reserves, insurance, land rent or litigation can erase the personal tax advantage.
Personal-value model
Price the edge without giving it away
The deal must survive the no-exemption case. Restore full taxes when modeling resale.
Certain-case PV$122,028Adoption + approval assumed
Probability-weighted PV$54,913Scenario math, not a forecast
Expected value / ask5.0%Before deal and building risk
Two worlds, one offer
No exemption$3,671/mo
Contingent full exemption$1,620/mo
Tax share of fixed carry56%
Negotiate from the market value paid by buyers who bear the full bill. Your status is personal value—not a feature the seller owns.
Co-op decoder
Pull tax out of maintenance
The corporation pays the building bill; a shareholder’s allocation generally follows shares, not square feet.
Method A · building bill × shares
Implied annual tax$40,000
Implied tax ratio2.67%
Maintenance after credit$167/mo
Method B · shareholder tax letter
Deductible maintenance may combine property tax and co-op mortgage interest. Subtract the interest allocation.
Deductible total$21,840
Implied property tax$12,840
Implied tax / month$1,070
Deal-room checklist
Kill the false positives
Privacy boundary
Never place VA letters, medical records, Social Security numbers, tax returns, bank statements or other sensitive identity and financial material in this Site. Only public property data and non-sensitive scenario assumptions belong here.
Sources & verification
Evidence before enthusiasm
NYS RPTL §458-a Statutory text, including subdivision 11NYS Tax Department Alternative veterans exemption overviewNYC Department of Finance Current city veterans programsNYC Class 2 guide Valuation, assessment ratio and phase-inNYS co-op assessor guide Share allocation and maintenance credit mechanics
Claims that still need fresh verification
- Whether NYC has adopted §458-a(11), and the effective application/tax-year mechanics.
- Whether Bashi’s actual VA document satisfies the statute—without uploading it here.
- Every listing’s live status, asking price, square footage, monthly charges and assessment end date.
- The actual unit tax bill, assessment allocation, legal residential use, certificate of occupancy and lenderability.
- Any projected property-tax reform, future rate equalization or resale uplift.