The New York City Council recently held a hearing on Proposed Introduction Number 991-B (Prop. Int. 991-B), a local law intended to amend the administrative code in relation to licensing hotels. The legislation aims to enhance consumer and worker protections within...
If you're a New York City property owner and you've just signed a lease or license agreement to install new telecom equipment (like a cell antenna) on your building, congratulations! You're adding a new revenue stream. However, before you celebrate that extra income,...
Recent developments in New York City’s property tax system have raised important questions about how co-ops and condos are valued for tax purposes. A recent court decision in Tax Equity Now NY LLC v. City of New York has brought attention to the disparities in...
Chapter 485 of 2023: Extending and Enhancing Solar Abatements On September 22, 2023, New York State enacted Chapter 485 of 2023, which amends the existing solar and electric storage system tax abatement law, now codified in Title 4-C of the Real Property Tax Law. This...
On September 16, 2024, the New York City Mayor's Management Report (MMR) provided an update on various city initiatives, including the Childcare Center Tax Abatement program. This program, launched in February 2023 by the Department of Finance (DOF), aims to...
The enactment of New York State's Good Cause Eviction Law (GCE) on April 20, 2024, marked a significant shift in the landscape of landlord-tenant relations. While much attention has been given to how this law strengthens tenant protections, less has been said about...
The Mayor's Management Report for Fiscal Year 2024 (FY24) provides a detailed overview of the Department of Finance's (DOF) performance, particularly in property tax collection and customer service. Here are some key insights and notable trends for this year. The...
As autumn arrives in New York City, property owners face an important deadline: the filing of Real Property Tax Law (RPTL) Article 7 petitions. If you've challenged your property's assessed value with the NYC Tax Commission and are unsatisfied with the outcome, it's...
The recent ruling allowing the Tax Equity Now NY (TENNY) lawsuit to proceed, as reported in Aaron Short’s article in the Commercial Observer, could intersect with ongoing legislative efforts, including the proposed Five Borough Fair Property Tax Act introduced in June...
As property tax appeals grow and cities across the country face shrinking revenues due to declining commercial property values, the impact on New York City’s budget is becoming increasingly apparent. I was recently quoted in this Bisnow article discussing how cities...