In which scenario would a J-51 tax exemption apply?

The J-51 tax exemption is designed specifically to encourage the renovation and rehabilitation of residential properties within New York City. This program aims to promote the improvement of existing housing stock by providing tax benefits to property owners who invest in renovations for their residential properties. Such improvements may include major renovations that enhance the livability or safety of these buildings, thus contributing to the overall quality of housing in the city.

In the other scenarios listed, the J-51 tax exemption would not be applicable. New commercial constructions are generally subject to different tax incentives aimed at boosting business development rather than residential improvements. Unoccupied properties may not qualify for the exemption since it is tied to active improvements rather than just the state of occupancy. Lastly, non-profit housing developments can have their own set of tax considerations and incentives, but they are typically governed under different programs, not specifically the J-51 exemption, which is focused on residential renovations.