NYC is an annual property tax jurisdiction. Each year all commercial properties in NYC are re-valued. The dynamics of NYC real estate impact assessed value. The understanding of this process contains many variables that is essential for the property owner to make good decisions. In such a dynamic market it is essential that property owners focus on every aspect of the process. At NYRETS our goal is to empower our clients with the knowledge they need to make informed decisions. Even the anticipation of change can empower owners.
The NYC property Tax system is a valuation based process that is primarily guided by the capitalization of the pre-tax net income.
NYRETS experienced staff has worked in and out of the government, having more than 30 years’ experience in the assessment process we bring to the client the understanding and influence needed to make successful decisions.
Our goal is to be your in house RE Tax experts. Part of your team when needed.
Our services are as follows:
- Projected Real Estate Tax Analysis on potential development sites.
- Annual Real Estate Tax Appeals
- Tax Exemptions and Tax Abatements for development projects, they include:
- 421a – new residential construction exemption
- ICAP – Industrial Commercial Abatement Program
We come to the process with experience on both sides of the process. We understand the people, the process, and the politics as it evolves each year in the assessment process.
As part of your team we bring a data source of NYC property that is complete and thorough, enabling our clients’ access to the data and the interpretation of it.