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Understand NYC Regulatory Management for Local Laws
The Real Property Income and Expense (RPIE) statement is used by the Department of Finance to determine the value and property tax for certain income-producing properties.
The Real Property Income and Expense (RPIE) statement is used by the Department of Finance to determine the value and property tax for certain income-producing properties.
The deadline to file your RPIE statement annually with the Department of Finance (DOF) is July 1. If you fail to file your RPIE, your Tax Certiorari (Tax Attorney) won’t be able to protest your Real Estate Taxes.
Owners of income-producing properties with an actual assessed value of more than $40,000 on the fiscal tax year must file a Real Property Income and Expense Statement. Property owners who have ground-floor or second-floor storefronts must register these spaces with the City using the RPIE statement.
RPIE filers whose properties have an actual assessed value of $750,000 or greater will be required to file an addendum containing rent roll information. The deadline to file this addendum is September 1, 2020.
Owners of cooperative units and condominiums who meet the requirements for the Cooperative and Condominium Property Tax Abatement can have their property taxes reduced. The amount of the abatement is based on the average assessed value of the residential units in the development.
Managing Agents must certify Owners Primary Residence with the Department of Finance for the fiscal tax period no later than February 15th. Owners who qualify for the abatement must meet these requirements:
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