Since the inception of the Real Property Tax Law, tenants in New York who are responsible for the payment of real estate taxes have had the right to file contests to real property assessments, both at the administrative and judicial levels. That right was severely circumscribed in the Appellate Division, Second Department in recent years, first in the matter of Circulo v Board of Assessors,96 AD3d 1053 (2nd Dept 2012), and then in its overly broad application of Circulo in Larchmont Pancake House v. Town of Mamaroneck, 153 A.D.3d 521 (2nd Dept 2017). Notably, the… Read more »
Nassau County is going to Albany in an attempt to receive legislative approval to over-tax both residential and commercial property by at least 5%, effective immediately. The County is seeking to amend various provisions of the Real Property Tax Law (as it pertains to Nassau County ONLY). If successful, if a property is determined to be over-assessed by 5% or less (whether through court order or settlement) there would NEITHER BE any reduction in assessment, NOR any refund due. Moreover, even if a property is determined to be over-assessed by 5% or more, the percentage of… Read more »
We are sending you this reminder that Nassau County requires owners of “income producing property” and property that is owner occupied, under construction, and/or sold or purchased during calendar year 2017 to file an Annual Survey of Income and Expense (ASIE Statement) on each applicable property. The filing deadline is April 2, 2018. Separate statements must be filed for each parcel, except that a consolidated statement may be filed where one or more tax lots are operated together as an economic unit (or otherwise related for valuation purposes), they are under common ownership, and… Read more »
Nassau County Executive Laura Curran has extended the deadline for filing administrative assessment challenges for the 2019/20 tax year from March 1, 2018 to April 2, 2018. Although the stated intent was to allow homeowners more time to file challenges, the extension will apply to all challenges, including of commercial property. Please contact us as soon as possible if you have acquired any commercial property recently for which you would like to file an assessment challenge. Challenges filed beyond April 2, 2018 cannot impact taxes until the 2020/21 tax year. See attached link. https://www.newsday.com/long-island/politics/nassau-property-tax-challenge-extension-1.16604979
HKCC Partner Robert S. Katz will be installed as the 2018 President of the New York Real Estate Tax Bar Association (RETBA) at its annual dinner at the Yale Club on January 29, 2018. Bob will be the bar’s point person in dealing with the NYC Department of Finance , the NYC Tax Commission and the City Law Department on property tax issues . The 65 attorney members of the Real Estate Tax Review Bar Association advise and represent New York City taxpayers with respect to property taxes, property tax appeals (tax certiorari), property tax… Read more »
The below article appeared in today’s (December 22, 2017) Newsday. https://www.newsday.com/long-island/politics/nassau-tax-refunds-1.15549486 ) We thought our clients should know that our firm was prominently involved in obtaining the money judgments discussed in the article. HKCC Partner Andrew Cangemi spearheaded the efforts on the firm’s behalf, and was heavily involved in the larger bar’s strategies. Andy’s 35 years of experience in dealing with Nassau County property tax issues led him to the conclusion that, as has too often been the case historically, Nassau would only move on the judgments if compelled to. The Court has signed… Read more »
You will recall that Nassau County, effective with a Local Law passed in December 2013, requires the filing of “all income derived from and all expenses attributable” to the operation of all commercial property. Non-compliance with this law results in monetary “penalties” (using the County’s term) calculated as a percentage of the property’s assessment, ranging from .25% to .75% of the property’s fair market value as determined by the County, increasing with a continuing failure to file. As we previously advised: (1) this filing requirement has nothing to do with the property tax appeals filed… Read more »
From November 13th to 16th, 2016, IPT (Institute for Professionals in Taxation) will hold its 40th Annual Property Tax Symposium at the Westin La Paloma in Tucson, Arizona. Kevin Clyne is the chair of the Symposium, and Jay Herman will be a featured speaker on the issue of golf course valuation.
Herman Katz Cangemi & Clyne, LLP is proud to sponsor Liz Janangelo Caron, Golf Professional, as she plays in the 2016 KPMG Women’s PGA Championship at Sahalee Country Club, Sammamish, Washington, June 9th to 12th, 2016. Go Liz!
As a Class 4 commercial taxpayer, you may have recently received notice from the Nassau County Department of Assessment regarding the Disputed Assessment Fund (DAF). See the DAF Frequently Asked Questions, here. The new law will apply to Class 4 Commercial property owners in Nassau County who have challenged their property’s tax assessment for 2016/17. The law essentially requires that a certain percentage of those Class 4 taxpayers’ payments be held in separate accounts pending the resolution of their tax appeal. If the appeal is successful, the refund will be made from the County’s DAF… Read more »