Chapter 37: Change of Tentative Assessments Pursuant to Section 1512 of the Charter

§ 37-01 Scope of Rules.

The books of the annual record of assessed valuation of real property containing the tentative assessed valuation of real property for the succeeding fiscal year are open to the public during a period beginning January 15th and ending March 1st of each year, except that for property defined as class one property pursuant to § 1802 of the Real Property Tax Law, the books are open to the public beginning January 15th and ending March 15th of each year. Section 1512 of the Charter provides that during the period in which the books of the annual record of the assessed valuation of real property are open for public inspection, the Commissioner of Finance may correct the assessment roll by adding property that had been omitted or by increasing or decreasing the assessed valuation of property. An additional period ending May 10th is provided for changes for non-residential real property. These proposed rules provide guidelines for property owner requests for Department of Finance review of the tentative assessed valuation of real property. A request for such review filed with the Department of Finance pursuant to these rules shall not:

   (a)   affect a property owner's right to apply for a correction of tentative assessed valuation with the New York City Tax Commission.

   (b)   affect any deadline for such application with the Tax Commission, or

   (c)   satisfy the requirement that a property owner have filed a timely application for correction with the Tax Commission in order to obtain subsequent judicial review of an assessed valuation.