Our Services
At NYRETS, we provide a comprehensive suite of New York City real estate tax services designed to meet your needs—from annual appeals to incentive program guidance. With deep expertise in NYC taxation and firsthand experience within the city’s Department of Finance, we deliver clarity, strategy, and savings for every property type.
ANNUAL CERTIORARI FILINGS
Challenging New York City property assessments is an annual process. Successful appeals result in a reduction of a property’s assessment; this leads to a reduction in property taxes owed. We file these appeal forms with the New York City Tax Commission for commercial, residential and industrial properties (tax classes 2 & 4). Filing with our company is free of charge. Our fee is contingent on a successful reduction of a property’s assessment. The annual deadline for filing with the city is March 1st.
REAL ESTATE TAX ESTIMATES & APPRAISALS
We provide all kinds of real estate tax projections for multiple years. Special attention is given for properties undergoing or planning construction for a new building, alterations, or additions to an existing space. We also prepare detailed tax estimates for properties being apportioned into condominium lots, including those for use in Condominium Offering Plans (Condo Books).
ICAP (INDUSTRIAL & COMMERCIAL ABATEMENT PROGRAM)
The Industrial & Commercial Abatement Program (ICAP) provides abatements of property taxes resulting from construction for periods up to 25 years. Eligible industrial and commercial buildings must be newly built, modernized, expanded, or otherwise physically improved. This benefit adds substantial value to a property. NYRETS has secured millions in ICAP benefits for our clients.
SBS/DLS COMPLIANCE
The NYC Department of Small Business Services (SBS) and Division of Labor Services (DLS) require M/WBE outreach and labor compliance paperwork for ICAP and other abatement programs. Projects exceeding specific construction thresholds must comply with these requirements. NYRETS guides clients through every compliance step to ensure qualification and retention of these vital incentives.
421-A (16) AFFORDABLE NEW YORK HOUSING PROGRAM
Available to qualifying construction projects started between January 1, 2016 and June 15, 2022, the 421-a (16) program offers up to 35 years of property tax exemption in exchange for the inclusion of Affordable Units. NYRETS helps developers comply with HPD requirements and file all necessary documentation to secure these long-term savings.
467-M AHCC (COMMERCIAL TO RESIDENTIAL CONVERSIONS)
This New York State program allows property tax exemptions for buildings converted from non-residential to eligible residential use. Qualifying projects starting construction after December 31, 2022, and completing by December 31, 2039 may receive tax exemptions for up to 35 years. NYRETS provides support from planning through compliance filings with HPD.
485-X ANNY (AFFORDABLE NEIGHBORHOODS FOR NEW YORKERS)
The 485-x program replaces the expired 421-a and supports the creation of affordable housing across NYC. Projects commenced after June 15, 2022 and completed by June 15, 2038 can qualify. NYRETS helps clients meet income and affordability requirements, construction wage standards, and HPD deadlines, ensuring access to these significant exemptions.
If you’re unsure where to begin—or just want a personal consultation—feel free to contact us today. Our tax professionals are ready to guide you to the optimal solution.
