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Unless the context requires otherwise, as used in these rules:
Assessment. "Assessment" means charges other than real property taxes, water charges and sewer rents, that are imposed on real property in the City of New York and which remain a lien on such real property until paid.
Beneficial owner. "Beneficial owner" means an individual or entity that has an ownership interest in excess of fifty percent of either (i) the real property or (ii) the entity that is the record owner of the property.
Department. "Department" means the New York City Department of Finance.
Ordinary overpayment. "Ordinary overpayment" means an overpayment, as defined herein, that resulted from means other than real property assessment review proceedings.
Overpayment. "Overpayment" means a payment that exceeds the amount of the real property taxes, water and sewer charges or assessments for which the payment was intended.
Record owner. "Record owner" means the owner of a property as it appears on the records of the New York City Department of Finance.
Taxpayer. "Taxpayer" means the payor of a tax, water and sewer charge or assessment, whether or not such party is the owner of the property to which the payment was applied.
Tax year. "Tax year" means the fiscal year of the City of New York, which commences July 1 and ends June 30.
Transfer of overpayment. "Transfer of overpayment" means the application of a credit to an unpaid tax, charge or assessment.
Any application required by the Commissioner of Finance for refunds (or transfers) of over and double payments of real property taxes, assessments, water charges and sewers rents may be made by filing an application on a form or in a format established by the Commissioner of Finance, plus any documentation requested by the Department in order to evidence that the applicant is entitled to the refund or transfer of the overpayment, within six years after the date of the over or double payment. Any such documentation required may include, but is not limited to, copies of both sides of cancelled checks, receipted bills, a printout of the confirmation of payment of taxes by electronic means, statements or other documentation from the taxpayer's bank or an affidavit setting forth facts alleged by the applicant.
(a) Application for refund. Refunds (or transfers) of overpayments of real property taxes resulting from a Tax Commission remission order or a Supreme Court order or judgment entered after trial or pursuant to settlement in a real property assessment review proceeding may be obtained in accordance with § 726 of the Real Property Tax Law only by filing an application on a form or in a format established by the Commissioner of Finance, plus any other documentation requested by the Department in order to evidence that the applicant is entitled to the refund or transfer of the overpayment, within three (3) years of the entry of the Supreme Court order or judgment, or within six (6) years of the date of the Tax Commission order, as the case may be. Other documentation required may include, but is not limited to, a copy of the Supreme Court order or judgment, if any, copies of both sides of cancelled checks, a printout of the confirmation of payment of taxes by electronic means, statements or other documentation from the taxpayer's bank or an affidavit setting forth facts alleged by the applicant.
(b) Interest on refunds. Interest shall be paid on the amount of any refund made pursuant to this section that resulted from a Supreme Court order or judgment, to be computed from the date of payment of the tax or portion thereof to be refunded until the date of such order or judgment. Interest shall also be paid on the amount of such refund for the period after the entry of a final order or judgment but shall accrue only from the date on which an application for Audit and Payment of such refund was duly made to the Department of Finance in accordance with the requirements of this section.
With respect to an overpayment of real property taxes or property-related charges on a property for which there are unpaid taxes or charges, the Department of Finance may apply the overpayment to satisfy such unpaid taxes and charges and refund only the balance of the overpayment, if any, that remains after the Department has so applied the overpayment.
A taxpayer may transfer an overpayment from one property to another under the following conditions:
(a) An overpayment may be transferred only between properties owned by the same beneficial owner.
(b) A transfer of an overpayment from one property to another shall have no effect on the accrual of interest as required by law on arrears on the property to which the overpayment is transferred. Nothing in this provision, however, shall prevent the taxpayer from requesting that an overpayment, or a portion thereof, be applied to interest on the property to which the overpayment is transferred.
(c) In the event that an application for a transfer of an overpayment concerns properties that are not owned by the same record owner, the applicant must furnish proof required to establish that the properties are owned by the same beneficial owner.
Example 1: In January, 2007, X made an overpayment of real property taxes on property A in the amount of $1,000. Property B has an outstanding balance of real estate taxes and interest from July, 2008, in the amount of $1,000. There are no other outstanding charges on either of the two properties. X is the record owner of both property A and property B and desires to transfer the overpayment from property A to property B. X must submit to the Department a request for transfer of the overpayment pursuant to 19 RCNY § 24-02. The $1,000 overpayment will be transferred from property A to property B to be applied to the outstanding balance on property B.
Example 2: The facts are the same as in Example 1 except that Y made the overpayment on property A. If X wishes to transfer the overpayment from property A to property B, X must submit to the Department an application pursuant to 19 RCNY § 24-02 certifying that X is entitled to the refund.
Example 3: In January, 2007, X made an overpayment of real property taxes on property A in the amount of $1,000. Property B has an outstanding balance of real estate taxes and interest in the amount of $2,000 from July, 2008. There are no other outstanding charges on either of the two properties. X owns 75% of the stock of X Corp. which is the record owner of property A. X also owns 75% of Y Corp. which is the record owner of property B. X desires to transfer the overpayment from property A to property B. X must submit to the Department an application pursuant to 19 RCNY § 24-02 together with any documentation requested by the Department to establish that X is the beneficial owner of both property A and property B. The $1,000 overpayment will be transferred from property A to property B to reduce the outstanding balance on property B by $1,000.
Example 4: The facts are the same as in Example 3 except that X Corp. made the overpayment on property A. If X wishes to transfer the overpayment from property A to property B, X must submit to the Department an application pursuant to 19 RCNY § 24-02 certifying that X is entitled to the refund and any documentation requested by the Department to establish that X is the beneficial owner of both property A and property B.