Property tax assessment – straight from the horse’s mouth

Real Estate Weekly

The Big Apple real estate market is booming, and in turn, the New York City Tax Commission office has been receiving between 50,000 and 53,000 applications for property tax assessments each year. EisnerAmper Senior Tax Accountant Michael Benison recently sat down with New York City Tax Commission President Glenn Newman to learn valuable information about the process. Newman told Benison that most of the city’s major players are filing applications through the Tax Commission’s office these days. The most important factor and starting point in reviewing a tax assessment, he noted, is an honest and accurate application. “Taxpayers need to pay attention to all of the details listed in the application and complete a true and accurate income and expense statement of the assessed property,” said Newman.