The Real Property Income & Expense form RPIE-2021 is due June 1, 2022. The NYC Dept. of Finance (DOF) will use this information to value properties for 2023. File the RPIE on DOF’s website at http://nyc.gov/rpie.
Report 2021 income & expenses or affirmatively claim an exclusion. There are some changes from last year. File RPIEs and Rent Rolls through the new SmartFile system. SmartFile requires you to register an NYC.ID. After you search for a property, the bottom of the screen will show you if RPIE, Short Form, and Rent Roll are required or not. Also new this year, some tax class 2C commercial condo units that were previously exempt must now start filing.
If you have a storefront, you must complete the Storefront Registration, even if you don’t have to file the RPIE. See here for more information. It’s due with the RPIE by June 1. New this year: the Storefront filing is disconnected from the SmartFile system. Access it directly here. Also new this year, separate tax lots must file separate storefront registrations, even if the RPIE is filed consolidated. The Supplemental Storefront Registration will be due August 8 or 9, where you’ll report changes as of June 30, 2022.
Rent Rolls are required if your AV > $750,000. For both the Commercial and Residential rent roll spreadsheets, DOF added a new “# [LLINE]” column. The Residential rent roll added four new required fields this year: months vacant, net rentable area, and number of full and half bathrooms. Note that only starred fields are Required. Find the rent roll section toward the end of the RPIE. Manually type the rent roll or upload DOF’s specially formatted spreadsheets. You may have to reformat the rent rolls several times before DOF’s system accepts them.
Penalties for failure to timely file the RPIE include fines and denial of a Tax Commission hearing next year.
For our NYC property tax protest / tax cert clients, let us know by May 6 if you’d like us to file your RPIE.
For additional resources, see SmartFile User Guide, Filing Info, general Worksheet & Instructions, other worksheets, FAQs; Storefront Registry FAQs, User guide, Worksheets for Class 2 & 4 and Class 1, Supplemental User guide; Rent roll FAQs.
Unrelated to the RPIE, please be advised that DOF extended the cooperative and condominium tax abatement prevailing wage affidavit filing deadline to May 2, 2022. See here.
Thank you and be well,
|Benjamin M. Williams
Member – Property Tax Department