New York Property Tax Alert

Many New York real estate investors, landlords and tenants can expect “coal” in their mailbox this holiday season, in the form of an assessment notice outlining potentially significant increases in their future tax bills. As the calendar turns from 2023 to 2024, several high tax municipalities throughout the State will be publishing their 2024 assessment rolls this January, including New York City, Nassau County, the City of White Plains and the City of Syracuse. Those that own or occupy property in NYC or Nassau County can expect to receive a paper notice in the mail outlining any change in assessment within the first few weeks of January. The Cities of White Plains and Syracuse will publish copies of the 2024 assessment rolls at the Assessor’s office, the Assessor’s website, and/or on the website for the local County Office of Real Property Tax Services, instead of mailing a notice of value. For example, property owners and tenants with real estate in White Plains or Syracuse can check these two websites in January for 2024 assessment data: Assessor | White Plains, NY – Official Website (cityofwhiteplains.com) and Onondaga County Department of Real Property Taxes (ongov.net)

After the 2024 assessments are published, each municipality offers a short window of time permitting property owners or net tenants to file a property tax appeal, challenging the new assessments set on their properties. In New York, each municipality has its own specific rules and procedures that must be followed in order for a property tax appeal to be rendered valid by the assessing jurisdiction. It is good practice for property owners and net tenants to reach out to a property tax attorney to discuss the impact of the new assessments levied on their property each January. The attorney will ensure that no deadlines are missed and that your rights are preserved should the matter require the filing of court petition with the local supreme court.

Thank you to Ryan Hild for this week’s Tax Tracker!