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EisnerAmper's recent interview with New York City Tax Commission President Glenn Newman has proved to be a popular subject.

The Property Tax Assessment Process in New York

EisnerAmper's recent interview with New York City Tax Commission President Glenn Newman has proved to be a popular subject. The information was recently published on the Real Estate Weekly blog under the title “Property tax assessment – straight from the horse’s mouth.”  The New York Society of CPAs also shared the interview under the title “Understanding New York City’s Property Tax Assessment Process.”

During the interview, Mr. Newman discussed the high volume of applications that the New York City Tax Commission office has been receiving in the wake of the recent real estate boom.  The application itself should be filled out in a complete and accurate way in order to start the process of reviewing a tax assessment on a solid footing. Details are critical to the assessment. As commercial property in the city has to be valued through the income and expense approach, an accurate statement of the income and expense of the property in question is necessary.  The growing use of outdoor spaces for technology such as cell towers and telecom equipment as well as other needs is another factor that assessments are taking into consideration. The interview also touches on not-for-profit exemptions. For more information, check out our original post, “What You Need to Know About the NYC Property Tax Assessment Process.”

Kristen Lewis is the Director of Marketing for EisnerAmper LLP in Philadelphia Pennsylvania. She has written articles for CPA Practice Management Forum and the Pennsylvania Institute of Certified Public Accountants.

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