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Refunds and Credits
Property Tax Refunds and Credits
The Department of Finance applies most property tax credits towards your next bill unless you request a refund. Please allow 8 weeks to process your claim. Note: Credit balances on your tax account must be used or refunded within 6 years. After 6 years, any credit balances left on your tax account will become the property of the City of New York.
Reasons for Property Tax Credits:
- Overpayments - There is a credit on your tax bill if two people make a payment at the same time or if a charge is canceled after it was already paid. This type of credit will only be refunded to the person who made the payment.
- Reduction in property's assessed value - There is a credit on your tax bill because you appealed your property's assessed value and received a reduction after we sent your initial property tax bill.
- Property Tax Exemption - There is a credit on your tax bill because you received a property tax exemption that reduced your property taxes after we sent your initial property tax bill.
You should complete the City Register Recording Fee Refund Request form if you overpaid or double paid for the same City Register transaction.
Submit a written request, and include proof of payment (front and back of the cancelled check) or the receipts from the City Register / Division of Land Records showing payment, and a copy of the cover pages for the original real property transfer tax return filing to:
NYC Department of Finance
Business/Excise Tax Refund Unit
59 Maiden Lane, 20th Floor
New York, NY 10038
No interest is paid on Real Property Transfer Tax refunds.
If you have filed and paid Real Property Transfer Tax on a property that was entitled to a full or partial exemption for an Affordable Housing Development please complete form. Click here.