For the attention of owners and tenants of commercial and multi-residential buildings – Real estate and construction

For owners and tenants of commercial or multi-family residential properties in Nassau County or New York, now is the time to apply for tax debt relief from your property. Property taxes are one of the largest expenses associated with owning or renting a property. Reducing these expenses is even more critical in the current economic environment, as many owners and ratepayers grapple with the current pandemic and seek to mitigate costs where possible. As municipalities look to generate revenue, now is the time to make sure your rights are protected, as failure to file an appeal in a timely manner can result in excessive tax burdens with no opportunity to remedy the problem.

Earlier this month, the Nassau County Assessment Department released its 2023/24 Draft Assessment Roll. Assessments on these rolls will be used to determine a property’s school, county, and city tax. Information about the Nassau County Assessment Roll can be found here: https://lrv.nassaucountyny.gov/

The New York City Department of Finance recently released its 2022/23 Draft Assessment Roll on January 18^and. These assessments will be used to determine a property’s tax liability beginning in July 2022. Information on the New York City assessment roll can be found here: https://a836-pts-access.nyc. gov/care/forms/htmlframe.aspx?mode=content/home.htm

In New York and Nassau County, landlords and tenants must file an administrative appeal by March 1^st to apply for a property tax reduction. The firm achieves significant benefits for our clients each year for all types of properties such as retail, office buildings, warehouses, mixed-use properties and apartment buildings.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.