Form Tc108 - Application For Correction Of Assessed Value For One, Two Or Three-Family House Or Other Class One Property Only - 2011 Page 2
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4LINE-BY-LINE INSTRUCTIONS
alteration or addition and include the year it was made. If
Do not leave any item blank. Enter N/A (“not
part of the property was rented during the last calendar
applicable”), “0” (zero) or “unknown” where appropriate.
year for any nonresidential use, such as an office or
Type or print your answers in ink. If you are NOT
store, check the box in item e) and attach a completed
using a double-sided form, the individual signing the
Form TC201.
Form TC108 must initial the bottom of the first page.
Section 7. SALE AND CONSTRUCTION
Section 1. PROPERTY IDENTIFICATION
If there was construction at the property since January 5,
The block and lot for the property are on the Notice of
2009, include the total direct and indirect cost of the
Property Value and are available on the Finance
construction. See Publication 600.
website. You must file a separate Form TC108 for each
Section 8. INFORMATION IN SUPPORT
Lot unless you are filing for condominium units. Before
You must submit information supporting your estimate of
you file for a condominium unit, ask the board of
the MARKET VALUE of the property either with the
managers if they are filing for your unit. If two
TC108 or at the in-person hearing. The price for recent
applications are filed for the same unit, one of the
sales of similar properties is a good indication of the
applications must be withdrawn.
property’s MARKET VALUE.
In addition to sales
Section 2. APPLICANT
information, you can submit a recent professional
The Applicant must be a person or entity directly
appraisal report for the property. If the Applicant recently
affected by the assessment. IF THE APPLICANT IS
bought the property or it was recently sold or listed for
NOT AN OWNER OR TENANT WHO PAYS ALL OF
sale, you also can submit documents proving the sale or
THE TAXES, YOU MUST FILE FORM TC200 WITH
list price for the property. Check the box at the bottom of
FORM TC108.
Section 8 if you are attaching additional proof of value.
Check the box to the left of the applicable description of
Where to get recent sales information.
the Applicant. If the Applicant is the board of managers
Sales information is posted on the Finance website at:
of a condominium, also check the box to the left of the
nyc.gov/propertytaxes.
You also can get sales
applicable source of the board’s authority to file and
information about specific properties at nyc.gov/acris.
attach a list of the lots covered.
You also can ask local real estate brokers for information
Section 3. CONTACT INFORMATION
on recent sales of similar properties. The Tax
Enter the requested information for the individual to be
Commission does not recommend other websites, but
contacted in connection with this application, either the
sales information is available at commercial websites
Applicant (including a principal, officer or employee of
including:
,
,
the Applicant) or a representative appointed by the
,
,
Applicant.
and .
Section 4. CLAIM OF MARKET VALUE
Section 9. SIGNATURE AND CERTIFICATION
See “SHOULD YOU FILE TC108?” on the first page of
The Form TC108 must be signed by the Applicant, by a
these instructions. The Tax Commission cannot change
fiduciary for the Applicant such as an executor, guardian
the MARKET VALUE on the Notice of Property Value.
or receiver, or by an agent of the Applicant who has
Section 5. HEARING REQUEST
personal knowledge about the property. NOTE: an agent
You can ask to have an in-person hearing at one of the
cannot be listed as the Applicant even if the agent is
Tax Commission borough offices, or you can ask to have
signing the TC108. If a fiduciary signs the Form TC108,
the application reviewed based only on the papers
the fiduciary also must attach a copy of the documents
submitted with Form TC108. Check the box to the left of
proving his or her authority to sign for the Applicant. An
your choice. Check only one box. If no box is checked,
appointed representative cannot sign the TC108 unless
the application will be reviewed on the papers submitted
the representative has personal knowledge about the
without an in-person hearing.
property. If an agent or representative signs the
TC108, you must attach Form TC244 and a power of
NEW FEE FOR CERTAIN PROPERTIES
attorney to the Form TC108. Check the box to the left
NOTE: THE TAX COMMISSION HAS ADOPTED A
of the appropriate description of the individual signing
RULE IMPOSING A $175 FEE ON APPLICATIONS
the Form TC108.
FOR CORRECTION WHERE THE ASSESSED VALUE
ON THE NOTICE OF PROPERTY VALUE FOR
CORRECTING ERRORS ON TC108 AFTER FILING.
2011/12 IS $2 MILLION OR MORE. NO FEE IS DUE IF
The corrected information must be provided on a Form
THE APPLICANT OR REPRESENTATIVE WAIVES
TC159 either mailed or delivered to the Tax Commission
REVIEW OF THE APPLICATION BEFORE IT IS
at or before the in-person hearing.
SCHEDULED FOR REVIEW. IF ANY FEE IS UNPAID,
Tax
Commission
forms,
including
Publication
REVIEW OF YOUR APPLICATION MAY BE DENIED
TC600, are available at the Tax Commission’s office
AND ANY OFFER OF CORRECTION REVOKED. THE
at 1 Centre St., Rm. 936, in Manhattan, any Finance
FEE WILL BE INCLUDED ON THE REAL PROPERTY
Business Center or the Tax Commission website at
TAX BILL DO NOT PAY THE FEE WITH THIS
nyc.gov/html/taxcomm.
Additional information is
APPLICATION.
available in the “Annual Notice of Property Value”
Section 6. PROPERTY DESCRIPTION.
brochure available on the Finance website at:
If there has been a physical alteration or addition to the
nyc.gov/propertytaxes.
property since the Applicant acquired it, describe the
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