Printer Friendly

City releases tentative tax roll.

The Department of Finance was expected to announce a tentative property tax roll this week that is not expected to be as much as last year's $85 billion tentative roll.

In spite of obvious declining market values, the billable assessments could be in the neighborhood of $81 billion because of rises in transitional assessments still phasing-in from the high market values of the late 1980's.

In May of 1991, the final tax roll that was published indicated city-wide billable assessments had declined to $78,467 billion from the $79.2 billion tentative roll. That was still higher than the $76.2 billion billable final roll for 1990/91. The final actual roll totaled $83.611 billion, down from the January 1991, $85 billion tentative roll. Property owners pay on the lesser of the actual or transitional assessment.

The actual assessments declined last year for the first time since 1982, and are expected to decline again for this week's 1992/93 roll. Fiscal year 1990's actual assessments were the highest ever, totalling $91.5 billion.

Attorneys said owners have until March 2 to file protests for Classes 2, 3 and 4 while homeowners have until March 16 to file applications for reconsideration of their property's tentative assessment.
COPYRIGHT 1992 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:New York City
Author:Weiss, Lois
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Jan 15, 1992
Previous Article:Dinkins rings in new year with industry-related laws.
Next Article:O'Connor Group purchases in PA.

Related Articles
RPIE form rules changed deadline extended to Oct. 3.
Property taxes 'unconstitutional.' (lawsuit contention)
Dinkins: ok, but with conditions.
More owners go to court with property tax disputes.
Tax petitions up 8%.
Taxes due prior to most hearings.
Finance Div. moves to abandon SBEA data.
Last call out for I & E's.
Class shift may push taxes up.
You work in a $400B industry.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters