What is the DAMP Tax Cap?
The DAMP Tax Cap helps HDFCs stay affordable by providing partial property tax exemptions.
Why Act Now?
Most HDFCs receive a property tax exemption called the DAMP tax cap which keeps HDFCs affordable and stable. The DAMP tax cap will expire in 2029 which could cost shareholders thousands of dollars a year in additional costs and risk financial strain for HDFCs. It’s crucial to advocate for a new tax cap.
Key Points
- Financial Impact: Without the cap, property taxes rise, leading to higher maintenance fees.
- Organizing for Change: Early action is needed to secure future tax caps.
How To Support
- Know Your Representatives: Find your representatives here.
- Join AHIFA: Affordable Housing is for All (AHIFA) is a collective of HDFC co-op members across New York City, advocating for housing justice and affordability city-wide.
AHIFA’s Mission:
- HDFCs should be affordable
- Everyone deserves safe housing
- We can solve problems in our buildings by building power together
- Affordable housing is a human right
- HDFCs are a model of resident-run housing that should be expanded
Contact AHIFA:
To learn more and join the fight, contact Molly Radwell at (212) 479-3323 or via email at radwell@uhab.org.
Follow AHIFA:
Stay updated with AHIFA by following @ahifamembers on social media.