NYC Resources 311 Office of the Mayor
Language
Text Size: A A A












CHALLENGING YOUR NOTICE OF PROPERTY VALUE

THE NOTICE OF PROPERTY VALUE IS ISSUED BY THE DEPARTMENT OF FINANCE.

IT INCLUDES:
1. A DESCRIPTION OF YOUR PROPERTY INCLUDING THE SIZE OF THE PROPERTY IN SQUARE FEET, THE SIZE OF THE LAND IN SQUARE FEET, THE NUMBER OF RESIDENTIAL UNITS (APARTMENTS), THE NUMBER OF FLOORS AND THE NUMBER OF NONRESIDENTIAL UNITS (STORES, OFFICES OR OTHER COMMERCIAL SPACE).
2. THE NAME OF THE OWNER OF THE PROPERTY
3. THE STREET ADDRESS  
4. THE EFFECTIVE MARKET VALUE

IF ANY OF THE ABOVE INFORMATION IS INCORRECT, YOU HAVE TO CONTACT THE DEPARTMENT OF FINANCE TO GET IT CORRECTED. GO TO THE FINANCE WEBSITE AT: www1.nyc.gov/site/finance/taxes/property-forms/property-forms-assessments-and-valuations.page

THE NOTICE OF PROPERTY VALUE ALSO INCLUDES:
5. THE ASSESSED VALUE
6. THE TAX CLASS

IF YOU BELIEVE THE ASSESSED VALUE OR TAX CLASS IS INCORRECT, YOU CAN APPLY TO THE TAX COMMISSION FOR A REVIEW OF THOSE ITEMS.

THE NOTICE OF PROPERTY VALUE ALSO INCLUDES:
7. APPLICABLE EXEMPTIONS (STAR, SENIOR, VETERAN’S, DISABLED, CLERGY, J51, 421A OR A NONPROFIT EXEMPTION)

IF YOU BELIEVE THE EXEMPTION LISTED IS INCORRECT, OR YOU APPLIED FOR AN EXEMPTION THAT DOES NOT APPEAR ON THE NOTICE, OR IF THE DEPARTMENT OF FINANCE HAS NOTIFIED YOU THAT AN EXEMPTION HAS BEEN DENIED, REVOKED OR REDUCED, YOU CAN APPLY TO THE TAX COMMISSION FOR A REVIEW OF THE EXEMPTION.

WHAT IS THE TAX COMMISSION?

THE TAX COMMISSION IS A NEW YORK CITY AGENCY SEPARATE FROM THE DEPARTMENT OF FINANCE THAT WAS CREATED TO PROVIDE PROPERTY OWNERS WITH AN INDEPENDENT REVIEW OF CERTAIN ITEMS RELATED TO YOUR ASSESSMENT.

TO HAVE THE TAX COMMISSION REVIEW THE ASSESSED VALUE, TAX CLASS OR AN EXEMPTION, YOU MUST COMPLETE AND FILE AN APPLICATION FOR CORRECTION ON OR BEFORE THE DEADLINE.

THE FILING DEADLINES ARE:
MARCH 1, 2017 FOR TAX CLASS 2, 3 AND 4 PROPERTIES.
MARCH 15, 2017 FOR TAX CLASS 1

THE TAX COMMISSION MUST RECEIVE YOUR APPLICATION BY THE DEADLINE.

THESE DEADLINES CANNOT BE EXTENDED.

FILING A REQUEST FOR REVIEW WITH FINANCE IS NOT A SUBSTITUTE FOR FILING A TAX COMMISSION APPLICATION FOR CORRECTION.

IF YOU ARE REQUESTING A CHANGE IN TAX CLASS, THE DEADLINE THAT APPLIES IS THE DEADLINE FOR THE TAX CLASS ON THE NOTICE OF PROPERTY VALUE, NOT WHAT YOU THINK THE CORRECT TAX CLASS SHOULD BE.

 YOU MUST USE THE CORRECT APPLICATION FORM:
• TC108 FOR VALUATION CLAIMS FOR ALL TAX CLASS 1 PROPERTIES
• TC101 FOR VALUATION CLAIMS FOR TAX CLASS 2 OR 4 PROPERTIES, OTHER THAN CONDOMINIUM UNITS
• TC109 FOR VALUATION CLAIMS FOR CONDO UNITS IN TAX CLASS 2 OR 4
• TC106 FOR CLAIMS RELATING TO TAX CLASSIFICATION AND NONPROFIT AND CONSTRUCTION-RELATED (e.g. J51, 421-a) EXEMPTIONS

NOTE: ALL VALUATION CLAIMS MUST BE MADE ON THE TC106 FORM AS WELL.

IF YOU ARE CLAIMING A PERSONAL EXEMPTION, YOU MUST FILE ONE OR MORE OF THE FOLLOWING FORMS (depending on the exemptions claimed):
• TC106A - SENIOR & DISABLED
• TC106CV - CLERGY OR VETERAN’S
• TC106S – STAR

NOTE: THE FILING DEADLINE FOR THE PERSONAL EXEMPTION FORMS IS MAY 31, 2017, BUT, IF YOU ARE CLAIMING A PERSONAL EXEMPTION AND ALSO WANT A REVIEW OF THE ASSESSED VALUE, YOU ALSO MUST SEPARATELY FILE THE APPROPRIATE FORM FOR THE VALUE CLAIM (TC101, TC108 OR TC109) BY THE MARCH 1 OR MARCH 15 DEADLINE, NOT THE MAY 31 DEADLINE.

DEADLINE EXCEPTION: IF THE DEPARTMENT OF FINANCE ISSUES A REVISED NOTICE OF PROPERTY VALUE DATED AFTER FEBRUARY 1, 2017 THAT INCREASES THE ASSESSED VALUE OR REDUCES OR REVOKES AN EXEMPTION, THE APPLICATION MAY BE FILED AFTER THE MARCH 1, MARCH 15 OR MAY 31 DEADLINE, BUT NOT LATER THAN 20 CALENDAR DAYS AFTER THE DATE OF THE REVISED NOTICE. NOTE: THE EXTENDED DEADLINE DOES NOT APPLY IF THE REVISED NOTICE REDUCED THE ASSESSED VALUE OR INCREASED AN EXEMPTION.

INCOME-PRODUCING PROPERTY – ADDITIONAL FORM:

IF THE PROPERTY IS INCOME-PRODUCING (i.e., RENTAL PROPERTY) YOU MUST FILE A STATEMENT OF INCOME AND EXPENSES ON THE APPROPRIATE FORM:
TC201 – RENTAL PROPERTIES
TC203 – COOPERATIVES AND CONDOMINIUMS

OTHER REQUIREMENTS AND OTHER FORMS:

SEE TC600 FOR MORE INFORMATION ABOUT OTHER REQUIREMENTS AND OTHER FORMS THAT YOU MAY HAVE TO FILE.

GET TAX COMMISSION FORMS ON THIS WEBSITE OR AT:

• TAX COMMISSION OFFICES AT ONE CENTRE ST., ROOM 2400, IN MANHATTAN

• DEPARTMENT OF FINANCE BUSINESS CENTERS IN EACH BOROUGH:

Bronx - 3030 Third Avenue (East 156th Street): Business Center and Assessment Office 2nd Floor
Manhattan - 66 John Street (William Street): Business Center 2nd Fl.; Assessment Office 13th Fl.
Brooklyn - 210 Joralemon Street: Business Center
Queens - 144-06 94 Avenue (Sutphin Blvd): Business Center 1st Fl.; Assessment Office 2nd Fl.
Staten Island - 350 St. Marks Place (Hyatt St.): Business Center 1st Fl.; Assessment Office 4th Fl.

 

Helpful Links

NYC.gov
The City's official Web site.

NYC Department
of Finance

For information about real property tax assessments, Parking violations, and the STAR Program.

NYC Department
of Finance Property Sales File

For a list of sales that may be used in valuing tax class 1 property.

NYC Tax Appeals Tribunal
For information on tax appeals of City taxes other than real property taxes.

New York State Department of Taxation & Finance
For information on New York State and City personal income tax and sales tax.

New York State Appeals Tribunal
For information on the New York State Tax Appeals Tribunal

Internal Revenue Service
For information on federal tax matters.

 
Copyright The City of New York Contact Us Privacy Policy Terms of Use