New York City Real Property Income And Expense (RPIE) Representation
Most owners of income-producing properties in New York must file an annual RPIE (Real Property Income and Expense) statement with the Department of Finance online. The City Assessor uses the information from these statements to generate assessments for the upcoming tax year. The city has become more serious about issuing statutory penalties for non filing or incomplete filings.
At the law firm of Brandt, Steinberg, Lewis & Blond LLP, our attorneys have the ability and the knowledge to represent property owners in RPIE filing disputes with the New York City Department of Finance. Appropriate RPIE representation requires in-depth understanding of the relevant laws as well as the practical application of the RPIE data. We assist our clients by informing them of who is required to file, what the deadlines are and what steps they should take to avoid penalties.
New York RPIE Filing Disputes
In New York City, the non filing or late-filing penalties can be significant. Owners of properties who are required to file face a penalty of up to 3 percent of the actual assessed value of the property.
In light of the harsh penalties that can result, as well as other potential consequences, it is imperative that property owners receive guidance from either an experienced law firm or their accountants.