DOF to Conduct Notice of Property Value Information Sessions
In the last issue of the Insider, we notified you that the NYC Department of Finance published the tentative property assessment roll for fiscal year 2023 (see DOF Publishes FY 2023 Tentative Assessment Roll). In January, the DOF sent a Notice of Property Value (NOPV) to property owners including information about market and assessed value and other pertinent information.
The NOPV and assessment roll give property owners the opportunity to review their tentative assessments and file a challenge to their property’s assessment with the NYC Tax Commission, an independent city agency, before the assessment roll is finalized in May. In June, the DOF will use the final roll to generate property tax bills for FY 2023. All properties are valued by law according to the property’s condition on the taxable status date of Jan. 5.
It's important to note that the absolute deadline for filing a challenge to a property’s assessment for Class 2 and Class 4 properties with the NYC Tax Commission is March 1, 2023, and those owners who don’t file a tax appeal by March 1 lose any right to contest assessments for the ensuing tax year. The deadline for Class 1 properties is March 15. Forms to file a challenge are available on the Tax Commission’s website at www.nyc.gov/site/taxcommission/index.page. If owners think there’s an error in the provided information—for example, the wrong square footage—they may file a Request to Update with Finance, which is different from a challenge to the property value.
DOF has announced that its outreach team will be joined by DOF Property Operations Staff, the Office of the Taxpayer Advocate, and the NYC Tax Commission to provide information sessions to provide an NOPV overview, help with understanding property taxes, show ways to save with property tax exemptions, explain how the Taxpayer Advocate can help resolve certain tax issues, and show how to file a challenge to a property’s assessment with the Tax Commission. The upcoming March outreach session schedule is as follows:
- March 2: 5:30 p.m. – 7:30 p.m.; Flushing Library; 136-26 37th Ave., 2nd Fl., Queens, NY 11354
- March 3: 6:00 p.m. – 8:00 p.m.; 876 Schenck Ave., Brooklyn, NY 11207
- March 7: 5:00 p.m. – 8:00 p.m.; 4101 White Plains Rd., Bronx, NY 10466
- March 7: 4:00 p.m. – 7:00 p.m.; Brooklyn Borough Hall, 209 Joralemon St., Brooklyn, NY 11201
- March 9: 7:30 p.m. – 8:30 p.m.; Richmondtown and Clarke Ave Civic Association, 397 Clarke Ave., Staten Island, NY 10306.