Distribution Of Condo Tax Refunds

It happens every January 15th—the New York City Department of Finance publishes its tentative assessment roll. No matter what the size of the building, as a manager, you want to encourage the board to review and challenge the tax assessment. It is important that the manager and the board look for the new assessment as soon after January 15th as possible, and that you are in immediate contact with tax certiorari counsel. This is because the time within which to challenge the assessment expires on March 1st. If an application is not filed with the New York City Tax Commission by March 1st, the right to challenge the assessment for that particular tax year is lost.

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