Form Tc108 - Application For Correction Of Assessed Value Of A One, Two Or Three Family House, Class One Condominium, Or Other Tax Class One Property - 2008
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4TAX COMMISSION OF THE CITY OF NEW YORK
1 Centre Street, Room 936, New York, NY 10007
TC108
2008
FORM TC108 APPLICATION AND INSTRUCTIONS FOR 2008
What other forms and instructions are needed?
To determine whether or not to file an appeal
TC 10
Tax Commission Receipt
because the assessed value may be too high:
Submit TC10 if filing in person, or, if you mail your
application include a stamped, self-addressed TC10 with
1. Ask yourself: “What do I think my property is
your application. The Receipt will serve as your proof of
worth?”
filing by the deadline.
2. Multiply the answer by 6%, which is the
assessment ratio for all tax class 1 properties.
Some situations require you to attach one or more of the
3. Look up the actual assessed value on the Notice
following forms to Form TC108:
of Property Value the Department of Finance
mailed
you
in
January
or
online
at
TC200
Addendum to Application for
Correction
nyc.gov/finance.
Required with TC108 when the applicant is neither an
If the actual assessed value is higher than the
owner nor a lessee but still paying all property charges,
amount you reached in Step 2, you should file
such as taxes, insurance, and maintenance.
TC108. If the actual assessed value is lower than
TC201
Income Schedule for Rent Producing
the amount you reached in Step 2, it does not pay to
Property
file an appeal.
Must be attached to TC108 if, in calendar year 2007, the
property produced rental income from nonresidential
When is the filing deadline?
units, such as retail stores or commercial offices.
We must receive TC108 by Monday, March 17, 2008.
TC244
Agent’s Statement of Authority and
When should you use Form TC108?
Knowledge
Use Form TC108 if you claim that the Department of
Complete if TC108 is signed by an agent with a power of
Finance estimated a tentative assessed value that is too
attorney.
high for a tax class 1 property. Such a claim would
include the possibility that statutory limits on annual
When should you file TC108?
assessment increases of 6% per year and 20% over five
We must receive your application by 5:00 p.m. on March
years have been exceeded.
17, 2008. The City Charter sets this deadline; the filing
deadline cannot be waived or extended for any reason.
Do not use TC108 in the following circumstances:
Late applications will not be reviewed.
•
To appeal an assessment of tax class 2, 3, or 4
properties. See TC600 – How to Appeal a Tentative
To be sure your application is received on time; bring
Assessment - for further instructions on the correct
your application to the Tax Commission or to a Finance
application form based on the type of property and
Department Business Center.
See TC600 for their
nature of your objection to the tentative assessment.
locations or the Finance web site at nyc.gov/finance.
•
To change the tax class or exemption status.
What is the mailing address to file by mail?
Submit an original and a copy of Forms TC106 and
If you file by mail, send the completed application at
TC200 by 5:00 pm on March 17, 2008 if the property
least 10 days before March 17 to the Tax Commission at
is now classified in tax class 1, or by 5:00 pm on
the address at the top of this page.
March 3, 2008 for tax class 2, 3, and 4 properties.
You may also submit Finance’s Request for
You may not fax your application or send it as an e-mail
Assessment Review form to Finance, which is
attachment.
Do not mail your TC108 application to
available online at nyc.gov/finance.
Finance.
•
To protest Finance’s estimated market value when it
Make sure to include a stamped, self-addressed Receipt
is higher than the value your tax is based on.
Form TC10 with your mailed application for proof of
timely filing.
•
To correct errors on the Notice of Value about the
Are there any other filing requirements for TC108?
physical description of your property. Only Finance
can correct this information in its records. Submit to
1. Make a photocopy. File the original. Keep the copy
Finance a Request to Update Property Data form,
for your records and to use at your hearing. If TC201 is
which is available online at nyc.gov/finance.
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