Every January, the Department of Finance mails each property owner in New York City a Notice of Property Value (NOPV). NOPVs give you information about your property, including its assessed value, market value, exemptions, and property description. It is not a tax bill and does not require a payment.
Your NOPV reflects the status of your property as of January 5 of the same year and is used to determine your property taxes for the upcoming fiscal year that starts on July 1.
Appeal Assessed Value, Tax Class, or Exemption
You can request an appeal with the NYC Tax Commission if you believe:
Request a Review of Property's Market Value
You can request a review by the Department of Finance if you believe the market value (not the assessed value) of your property is wrong.
Even if Finance agrees to change your market value, this is not likely to immediately change the amount of taxes you owe. In order to change the amount of your property taxes, you need to appeal your assessed value with the NYC Tax Commission.
Request an Update of a Property Description
You can request an update by the Department of Finance if you believe the property description is wrong.
Even if Finance agrees to change your property description, this is not likely to change your assessment. If you would like to correct your property's assessed value, you must request an appeal from the NYC Tax Commission during the filing period.