Articles & Press Releases

March 30, 2018

HERE WE GO AGAIN! NASSAU COUNTY SEEKS TO INSTITUTIONALIZE BROKEN ASSESSMENTS

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 »

February 23, 2018

NASSAU COUNTY ASIE FILING INFORMATION

    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 »

February 07, 2018

NASSAU COUNTY EXTENDS FILING DEADLINE TO APRIL 2, 2018

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

December 29, 2017

NASSAU COUNTY MONEY JUDGMENTS

  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 »

August 03, 2017

New York Golf Course Valuation

The valuation, assessment and taxation of golf courses has been headline news lately due in part to the publicity surrounding any and all real property owned by United States President Donald Trump. For example, in May, New York State Assemblywoman Sandy Galef (D-Ossining), announced her plan to introduce legislation that would change the methodology used to value golf courses. The legislation is intended as a response to tax assessment filings, including property in her district—Trump National Golf Club. Residents of her district believe the pro-forma demand for a 90% reduction in the assessment for Trump National Golf… Read more »

January 27, 2017

New NYC Assessment Roll Released

New York City released its 2017/18 tentative assessments last week. These assessments will be used to determine the taxes due for the fiscal year that begins on July 1, 2017. Class 4 (commercial) and Class 2 (multi-family residential) have seen large assessment increases over the last five years. That trend has continued with this recently released tentative roll. In a press release, the Department of Finance acknowledged these dramatic increases. Class 4 properties, as a group, had their assessments increased by 8.1% over the previous year. Class 2 properties saw an even bigger increase –… Read more »

January 23, 2017

Update On Nassau County Lawsuit

As we indicated in our Memorandum on January 18, we commenced a lawsuit against Nassau County last week.  We sought a temporary restraining order enjoining and restraining the County from collecting any penalty and/or imposing any lien and further enforcing the penalty provisions of the ASIE/Income and Expense Law/Amnesty Program.   The Judge granted our TRO and we will be returning to continue arguing on February 8. We will be in further contact after the next court date or if there are other developments in the interim. If you have any questions, please feel free to… Read more »

January 04, 2017

Nassau County ASIE 2015 Grace Period

We have been advised by the Nassau County Website that a grace period has been opened for filing the 2015 ASIE. As you know, we will be challenging the validity of the law, but until such time as the Courts determine its legality, we suggest that you comply with this Nassau County requirement for each of your properties. The Department of Assessment has opened a grace period for non-filers of ASIE 2015 to avoid penalty. This applies to ASIE non-filers only! You may avoid penalties by submitting and filing a properly-completed electronic form. This grace period… Read more »

November 09, 2016

NASSAU COUNTY TO PURSUE DRACONIAN “PENALTIES” FOR FAILURE TO FILE INCOME AND EXPENSES

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 »

November 07, 2016

New York City Considers New Rules for ICAP Benefits

The Industrial and Commercial Abatement Program (“ICAP”) provides real estate tax benefits for commercial property development within New York City. The program is authorized by State law but managed by the New York City Department of Finance. The City recently issued a proposed set of rules for the ICAP program and the public comment period for those rules has just been completed (Link). The ICAP law went into effect after the sunset of the former ICIP benefit (“Industrial and Commercial Incentive Program”) in 2008. The law authorized the City to adopt rules for the administration of the program… Read more »