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submitted for a claim that an individual residential

in Part 7 “no”, Parts 3 and/or 4 may be left blank. If

or owner–occupied commercial unit is overvalued,

a condominium is newly constructed or underwent

and

the

claim

stands

independent

the

a major alteration after January 5, 2002, a

correctness of the valuation of the condominium as

condominium board or cooperative corporation

a whole. For example, a unit’s assessed value is

filing Form TC109 must complete Parts 1, 2, and 4.

claimed to exceed its rental value, as indicated in

the rent actually paid to the owner or which the unit

Definitions.

would earn if rented, based on rents of comparable

units. This claim may be asserted irrespective of

persons.

persons

include

the value of the entire condominium because of

individuals related by blood, marriage or adoption,

specific factors affecting a unit.

Owners of

individuals and the business entities they control,

residential units must complete Parts 1, 2, 6 and 7

business entities under common control, and

of TC200.

Owners of nonresidential units must

fiduciaries and the beneficiaries for whom they act.

complete Parts 1, 2 and 6.

A person includes a corporation or other business

entity.

A cooperative apartment corporation that owns a

condominium unit should file Form TC203, and not

Construction. Construction of a new building.

TC200.

Major alteration.

Any work which increases the

When to file.

If required file, TC200 with your

enclosed floor area or cubic content of a building,

application. Generally, all applicable parts must be

which

renovates

building

that

had

been

complete when filed.

predominately vacant or which changes the use of

one or more floors of a building, such as from office

The following exceptions apply:

to residential or from storage to office; renovation,

interior demolition or tenant installations affecting at

So long as TC101 Part 7 discloses that a sale or

least 25% of building area; other work not covered

construction or major alteration occurred after

by repair and maintenance expense, including, but

January 5, 2002, you may submit TC200, attached

not limited to, new installation or replacement of

to Form TC159, with Parts 3 and/or 4 completed, at

any one of the following systems: HVAC, elevators,

the hearing.

If the sale is between unrelated

electric wiring or plumbing; or replacement of at

persons, submit Form TC230, instead of TC200.

least one of the exterior faces of the building; or

any work which has or is expected to cost an

If the actual assessment equals or exceeds

amount that equals or exceeds the tentative total

$750,000, TC200 may be filed attached to a

actual assessment under review.

supplemental application, Form TC150, from March

2 until March 24, if filed for the purpose of reporting

Forms

and

information.

Copies

Tax

net lease rent in Part 5, instead of filing TC201.

Commission

forms

may

obtained

and at Finance

If Form TC150 is filed from March 2 until March 24

borough assessment offices.

Address questions

with TC201, you may file TC200 attached to TC150

about how your assessment was determined or

for the purpose of supplying information required in

general

questions

about

real

property

tax

Part 3 and/or 4. Otherwise, submit the information

assessments to the Department of Finance.

at the hearing, as discussed above.

Contact Finance at

See Form TC600 for telephone numbers and

What parts to complete. If TC200 is required, all

addresses of borough assessment offices. If you

applicants must complete Parts 1 and 2, including

have questions about the application procedure,

questions marked

. If your answers to the lease

contact the Tax Commission.

questions in Part 2 direct that Part 5 be completed,

complete Part 5. If filing Form TC106, also answer

questions marked

in Parts 3, 4 and 6, and

complete parts that apply. If filing Form TC109 to

make a unit value claim (see above), complete

Parts 1, 2, 6 and/or 7, and if applicable 3, 4, or 5. If

you file Form TC101 and answer one or both items

Form Tc200 Instructions For 2004 - Addendum To Application For Correction - The Tax Commission Of The City Of New York Page 2

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