In addition to W-2 forms and other tax documents that will flood your mailbox this time of year, New York City property owners ought to be on the lookout for the annual Notice of Property Value (NOPV). The city’s Finance Department is mailing them out now in order to give property owners time to review their assessed value and the property tax rates that will be applied. This is well in advance of the first tax bill for the year, which comes out in June.

That means you do have a chance to take action if you believe the values or property descriptions on the NOPV are not correct. If that’s the case, you can appeal to the NYC Tax Commission. You must be able to prove that your current market value is less than the Effective Market Value, which is listed on your NOPV form.

The deadlines for an appeal to the Tax Commission are March 1 (Class 2, 3 and 4 properties) and March 15 (Class 1). Appeals received after these dates will not be granted.

If you believe your property description is not correct, you can ask the Department of Finance to review your property’s description. That can also be done by filing a request on the NYC Department of Finance website. Deadlines with the Department of Finance to correct property descriptions are March 17 (Class 1 and 2) and April 1 (Class 4).

The city will also hold a series of NOPV workshops and Tax Commission public briefings:
Feb. 2, 10 am – noon
345 Adams Street, 7th Floor Training Room, Brooklyn

Feb. 3, 10 am – noon
1 Centre St, North Mezzanine, Manhattan

Feb. 4, 10 am – noon
3030 Third Avenue, 2nd Floor (East 156th Street), Bronx

Feb. 9, 10 am – noon
144-06 94th Avenue, 3rd Floor (Sutphin Boulevard), Jamaica

Feb. 9, 6 pm – 8 pm
Manhattan Borough President Gale Brewer’s Office
1 Centre Street, 19th Floor South, Manhattan

Feb. 10, 6 pm – 8 pm
Brooklyn Borough President Eric L. Adam’s Office
209 Joralemon Street, Brooklyn

Feb. 11, 10 am – noon
350 St. Marks Place, 4th Floor (Hyatt Street), Staten Island

Feb. 16, 6 pm – 8 pm
350 St. Marks Place, 4th Floor (Hyatt Street), Staten Island

Feb. 17, 6 pm – 8 pm
144-06 94th Avenue, 3rd Floor (Sutphin Boulevard), Jamaica

Feb. 18, 6 pm – 8 pm
3030 Third Avenue, 2nd Floor (East 156th Street), Bronx

(Featured photo by Justin Henry via Flickr Creative Commons)