Real Property Tax Alert - October 2016

by Farrell Fritz, P.C.
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Nassau County Class 4 Commercial Property – Disputed Assessment Fund (“DAF”) Started with October 2016 School Bill

All Class 4 commercial properties have been impacted by the increase in the school tax rate precipitated by DAF. For properties with pending 2016/17 tax certiorari proceedings, the school tax bill also has a DAF deduction (generally 10%) but this “savings” is short lived. That “deduction” will be added back to the 2017 General tax bill.

For landlords and tenants, DAF makes implementation of escalations even more confusing.

Many of your questions may be answered by referring to our May 2016 DAF Bulletin or Nassau’s link.

A New STAR is Born for Some New Homeowners

If you bought your home before May 1, 2014 and already receive the STAR exemption:

• You are all set and nothing needs to be done.

If you bought your home on or after May 1, 2014 and you met the STAR criteria:

• For Nassau – If you did not apply for STAR or applied after January 2015, you must apply online or call 518-457-2036.

• For Suffolk – If you did not apply or applied after March 1, 2015, you must apply as noted above.

For new applicants, instead of a STAR tax reduction resulting in a lowered school tax bill, you will pay the unreduced school tax and receive a refund check from New York State. For Nassau the check should come in October and for Suffolk in December.

Keep in mind that the Basic STAR is limited to those with an annual income of $500,000 or less. If your income was above that amount and has now gone below the threshold, it is advisable to reapply as above.

Nassau County Assessment Calendar

March 1, 2017:  2018/19 Grievance Filing Deadline

 

Taxes Affected
2017/18 School                        2018/19 School

2018 General                            2019 General

Exemption Filing Deadline January 2, 2017 January 2, 2018
Grievance Filing DEADLINE PASSED March 1, 2017
Final Assessment Date April 1, 2017 April 1, 2018
Deadline for Judicial Review April 30, 2017 April 30, 2018
Taxes Due NO LATER THAN:

School   – 1st half

– 2nd half

General – 1st half

– 2nd half

November 10, 2017

May 10, 2018

February 10, 2018

August 10, 2018

November 10, 2018

May 10, 2019

February 10, 2019

August 10, 2019

     
Suffolk County Assessment Calendar

May 16, 2017:  2017/18 Suffolk Towns’ Grievance Filing Deadline

Taxes Affected 2017/18
Exemption Filing Deadline March 1, 2017
Grievance Filing Deadline May 16, 2017
Final Assessment Date July 1, 2017 or later
Deadline for Judicial Review 30 days after Final Assessment
Taxes Due NO LATER THAN: 1st half  – January 12, 2018

2nd half – June 1, 2018

   
New York City Assessment Calendar Taxes Affected 2017/18
Exemption Filing is Year Round  
Grievance Filing Deadline March 1, 2017 (March 15 for Class 1)
Deadline for Judicial Review No later than October 24, 2017
Taxes Due NO LATER THAN:

Assessments $250,000 or less – Quarterly Bills

Greater than $250,000 – Semi-Annual Bills

1st half/quarter  – July 15, 2017

2nd quarter – October 15, 2017

2nd half/3rd quarter – January 15, 2018

4th quarter – April 15, 2018

 Long Island Village filing and tax deadlines

There is no single date that summarizes the Long Island village filing and tax deadlines.  Check with your village clerk or feel free to email us.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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