The Cohen Law Office, PC

Firm Overview

The Cohen Law Office, PC is a tax certiorari law firm which concentrates in challenging / appealing Real Estate property tax assessments and obtaining reductions in real estate taxes. Its founder, Aaron Cohen is a NYC Tax Certiorari attorney / lawyer who focuses his practice almost exclusively on fighting NYC property taxes / tax assessments in and around the five boroughs of New York City.

The Cohen Law Office, PC is instrumental in obtaining significant property tax reductions for apartment buildings, commercial, industrial and retail properties throughout the five boroughs of New York City, and beyond. Our fee on all tax protests / tax certiorari matters are contingent upon obtaining reductions in property tax assessments.

As a NYC based Tax Certiorari law firm, we challenge real estate tax assessments with the goal of winning tax reductions for our commercial clients. For property owners of New York City, it's important to choose a NYC tax certiorari lawyer / law firm whose practice deals primarily with properties in New York City. We take the time to examine every aspect of a property's taxation in order to attain the best chance at success, and keep you updated throughout the entire process.

Reluctance to protesting NYC Tax Assessments are sometimes unwarranted

There are some property owners who are hesitant to protest their assessment because they feel their property is in fact much more valuable than the "market value" assigned by the New York City Department of Finance. While this may or may not be true, since the NYC Department of Finance (NYC DOF) has unique ways of valuing and assessing properties, what a property could sell for on the open market, or what a similar neighboring property recently sold for, is often legally irrelevant in determining the correct assessment.

NYC Department of Finance Methods of Valuation

In order to determine the value of a property, the Department of Finance uses various factors but typically relies on what is known as the "income capitalization" approach. In other words, the department looks at the rental income and expenses for a building to determine the net operating income, and applies a certain capitalization rate to that to arrive at the value. For Co-op or condo buildings, the Department of Finance is required, by statute, to evaluate co-ops and condos as if they were rental buildings. The department first estimates the rent that could be charged for each unit as if it were a rental giving the department an estimated income. Then, the department reviews the expense reports - minus depreciation and mortgage interest - and determines the building's reasonable and appropriate expenses. Income minus expenses constitutes the net operating income for assessment purposes. When the assessment is challenged, the main areas of dispute typically involve the unit's rental value and whether the building's operating expenses are reasonable. If, after filing an application, the matter is not resolved at the tax commission level, the building must begin an action in the Supreme Court against the city, which must be filed by October 24. It is important to note, that even if that date falls on a weekend, it does not get extended to the next business day, meaning the action must be started no later than the Friday before.

Approximately 30% of New York City property owners who protest their real-estate tax assessment receive a settlement offer from the city, resulting in lower taxes. Real property taxes are typically paid twice a year, on January 1 and July 1. The New York City Department of Finance releases its tentative assessment roll on January 15th of each year.

Deadline to challenge / protest NYC property tax assessment

If you are interested in fighting your NYC property tax assessment, it is vital that you act quickly, since the deadline for challenging / protesting NYC property taxes with the NYC Tax Commission (in the five boroughs of NYC) is March 1. The deadline for filing the NYC property tax protest is a strict deadline. If you miss that deadline, it is still recommended you consult with our office since there is an alternate method to challenge the assessment even after the deadline.

Filings to protest / appeal the NYC property tax assessment without the assistance of a lawyer is permissible but not recommended. While many property owners know how to fight / protest their NYC property taxes / property tax assessment, Tax Certiorari attorneys are often able to work out more favorable settlements on behalf of their clients.

The Cohen Law Office, PC handles all tax assessment protests on a contingency-fee basis, and the owner pays no attorneys' fees unless there is a reduction in the tax due. Contact The Cohen Law Office today for a free consultation to determine if you are being overassessed.