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NY Court Limits Discovery in Tax Certiorari Proceedings
While discovery motions are exceedingly rare in New YorkState real property tax litigation matters (tax certiorari), the New York StateSupreme Court (New York’s trial-level court) recently issued a pair of decisions denying Respondent New York City’s motions to compel petitioners to turn over various items the city deemed crucial to its defense of the matters. These decisions are victories for taxpayers and should serve, at least to some degree, to expedite the notoriously lengthy delays associated with resolving property tax disputes.
Where Will Property Tax Assessments Head In 2024/25?
On or around January 15, 2024, the New York City Department of Finance (DOF) will publish its tentative property tax assessment roll valuing all real estate in New York City as of the January 5, 2024 “taxable status date.” The final assessment roll will be published on May 25 and will affect property taxes due for the city’s 2024/25 fiscal year (July 1, 2024-June 30, 2025).
What is going on with 2023/24 NYC property assessments?
On January 17, the New York City Department of Finance published its tentative property tax assessment roll valuing all real estate in New York City as of the January 5, 2023 "taxable status date." The final assessment roll will be published on May 25 and will affect property taxes due for the city's 2023/24 fiscal year (July 1, 2023 - June 30, 2024).
2022/23 Property Tax Assessments: Back up to Pre-COVID-19 Levels?
In our article earlier this year before the New York City Department of Finance published the 2022/23 tentative property tax assessment roll, which reflects its valuations as of the January 5, 2022 taxable status date
New Year, New Assessment – Where Will NYC Property Assessments Go in 2022/23?
On January 15th, 2022 (or shortly thereafter), the New York City Department of Finance, as it does every year, will publish its tentative property tax assessment roll valuing all real estate in New York City
Ditchik & Ditchik Is Expanding Its Real Estate Tax Practice
Ditchik & Ditchik is expanding its New York real estate tax group with the addition of a lawyer who's slated to formally join the firm in the coming weeks, Law360 has exclusively learned.
City Publishes its first post-pandemic property tax assessment roll
On January 15, 2021, the New York City Department of Finance, as it does every year, published its tentative property tax assessment roll valuing all real estate in New York City. This was one of the most anticipated assessment rolls in recent memory, as it is the first roll to reflect the decline in real estate values following the Covid-19 pandemic.
Annual Timeline for New York City Real Estate Tax Appeals
Certainly nobody out there was sad to say "good riddance" to 2020, least of all property owners in New York City. But even with a tumultuous year behind us and an uncertain near and long-term economic future ahead of us, at least one thing will remain constant from one year to the next in New York -- the property tax system.
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How Will the COVID-19 Pandemic Affect Future Property Tax Assessments in New York City?
One of the biggest concerns of New York City property owners during the current COVID-19 pandemic has been the ability to pay their property tax bills, the first half of which were due July 1st and the second half will be due January 1st for most taxpayers.
Appellate Division Rejects Challenge to NYC Property Tax System
In late February, the Appellate Division (1st Department), dismissed a lawsuit filed by an association of property owners and renters known as Tax Equity Now NY (TENNY)
NYC Launches Annual Storefront Registration Requirement
It seems that 2019 was a better year for new regulations on New York real estate owners at both the state and city levels. Ensnared in the regulatory mix beginning in 2020 our owners of New York City buildings in all tax classes containing ground- and/or second-floor commercial space, commonly referred to as “storefronts”.
Taxation of New York City Real Property
This practice note provides an overview of real estate taxation in New York City (the “City”) including (1) the process by which the City assesses real property, (2) how property owners challenge the City’s assessments, (3) benefit programs available to reduce property owners’ real estate tax burdens, and (4) the importance of understanding real estate taxes in lease negotiations.
Deadline for NYC Real Estate Tax Appeals Approaching
Property owners in New York City should be mindful of the upcoming October 23 rd , 2020 deadline to file a Petition pursuant to Article 7 of New York’s Real Property Tax Law in the New York Supreme Court. This filing is required in order to preserve the right to contest the real property tax assessment for the 2020/21 fiscal year. This annual deadline is immovable and non-waivable – in other words, the failure to file a petition by October 23 rd will result in a total loss of a property owner’s right to contest its 2020/21 assessment.
City Commercial Tax Incentives Face Increased Scrutiny
Recent changes and developments, both legislatively and with respect to New York City policy, could substantially impact certain commercial real estate tax incentive programs. These developments will make obtaining and retaining these tax incentives more difficult for taxpayers and will serve to increase City revenues at commercial taxpayers’ expense.
Reforming the Real Estate System in NYC
The New York City Advisory Commission on Property Tax Reform recently issued its preliminary report of recommendations to reform the real estate tax system in NYC. There will be further public hearings, comments and revisions to these recommendations before a final report is issued. To have most of these recommendations implemented, legislative changes at the city and state level would be required. Cooperation among the Mayor, Governor, NYC City Council and others would also be required.