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Tax Assessment Petition

Tax Assessment Petition

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When determining how much property tax to charge condo and coop owners, New York City relies on a statistical model to calculate the property’s assessed value. If a property owner disagrees with this value, he or she may challenge it by submitting a petition to the NYC Tax Commission. Tax assessment petitions may remain outstanding for several years before the matter is settled, and may result in a higher or lower assessed value.

More information:

http://www.nyc.gov/html/dof/html/property/property_val_appeals.shtml