NYC Tax Certiorari Firm Overview
The Cohen Law Office, P.C. is a NYC Tax Certiorari law firm which concentrates in challenging and appealing Real Estate Property Tax Assessments and obtaining reductions in real estate taxes.
Its founder, Aaron Cohen is a Tax Certiorari lawyer and
civil litigator practicing in the area of fighting New York property taxes, litigation connected therewith, and commercial litigation matters.
Our fee on all tax protests/tax certiorari matters are contingentupon obtaining reductions in property tax assessments. If youown commercial property in New York City, maintaining an appropriate tax assessment can sometimes be frustrating; we have seen properties over assessed by mor e than four times their appropriate level. Often, real estate taxes are unfairly overassessed requiring diligent tax certiorari expertise.
As a Tax Certiorari law firm, we challenge real estate tax assessments with the goal of winning tax reductions for our commercial clients. It's important to choose a firm that will give your matter individual attention. We take the time to examine every aspect of a property's taxation in order to have the best chance at success and keep you updated throughout the sometimes lengthy process.
Some property owners are sometimes hesitant to protest their assessment because they feel their property is in fact much more valuable than the “market value” assigned by the Department of Finance. While this may be true, since the Department of Finance 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 irrelevant in determining the correct assessment. It should also be noted that the Tax Commission, by law, can never increase an assessment as a result of a challenge; it can only confirm the assessment or reduce it.
In order to determine the “market value” of a property, the
Department of Finance uses various factors but often relies on what is known as the "income capitalization" approach. In other words, the department factors in the rental income and expenses for a building to determine the net operating income, and applies a certain capitalization rate 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.
If, after filing an application, the matter is not resolved at the tax commission level, the building must commence an Article 7 petition in Supreme Court against the city.
It is vital that you act well in advance of the property tax filing deadline, to ensure timely filing; there are no extensions allowed.
The Cohen Law Office, P.C. 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 for a free consultation to determine if you are being overassessed