Real Property Income & Expense (RPIE) Statements

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Real Property Income and Expense (RPIE) Statements

Owners of income-producing properties that have an actual assessed value of more than $40,000 are required to file annual Real Property Income and Expense (RPIE) statements with Finance, unless the properties are specifically excluded from the filing requirements by law.

RPIE Filing Information

Finance uses the information from these statements to estimate the market value of property for tax purposes, and may use data that is specific to a particular parcel or data from comparable properties. For this reason, owners of income-producing properties who are not legally required to file an RPIE may still want to provide information about their properties using the online RPIE-B form. All other owners are required to file an RPIE statement electronically for each property. You will be able to print a copy of the filed RPIE for your records. Thank you for providing information to help us value your property accurately and fairly.

Non-Compliance Penalties
The RPIE-2010 was due by the extended due date of September 8, 2011. Owners of properties subject to the filing requirements who failed to submit a properly completed filing on time are subject to penalties. Finance has notified by letter all non-filers who may be penalized for the 2010 filing year. First time non-filers have been assessed a penalty of .75% of the actual assessed value of their property and repeat non-filers have been assessed a penalty of 1.5%. Please refer to Important Information about Non-Compliance Penalty for more information.

Rent Roll Requirements
Owners of properties with an actual assessed value of $750,000 or more must submit the current rent roll as part of their annual RPIE filing. For properties with fewer than 50 tenants, rent roll information must be submitted online using the RPIE form. All other properties may either submit the rent roll online or by using a spreadsheet provided by Finance. If you request and are granted a waiver from filing online, you may submit your rent roll using the paper RPIE form. Rent roll submissions must include the following information:

For Commercial Properties: Tenant's Name; Tenant's EIN; Floor Number or Range; Rentable Square Feet; Primary Use; Lease Start Date; Lease Term; Current Rent; Electrical Charges; Pass Through Charges; Next Step-up Date; Rent After Step-up.
For Residential Properties*: Number of Regulated Apartments; Total Rent – Regulated Apartments; Number of Unregulated Apartment; Total Rent –Unregulated Apartments.

* Residential property owners are required to submit this information separately for each apartment type (e.g. studio, one-bedroom, two-bedroom, etc.)

Frequently Asked Questions

Procedures on How Finance Valued Properties When We Did

Not Have Income and Expense Information

Forms

Properties Subject to the RPIE-2010 Monetary Penalty

Forms
None at this time.

Properties Subject to the RPIE-2010 Monetary Penalty
The following lists identify properties that failed to comply with the RPIE-2010 filing requirements.

RPIE-2010 Non-Compliance Penalty List as of 11/03/11	Adobe PDF	MS Excel
Manhattan	118k	640k
Bronx	92k	350k
Brooklyn	226k	1.2M
Queens	190M	1M
Staten Island	47k	272k
Citywide	663k	3.1M

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