§ 33-03 Penalties for Failure to File.
RCNY § 33-03
(a)Monetary penalties.
(1)Owners of income-producing property who fail to file an income and expense statement by the first day of June, or in the event of an extension, by the extended due date, shall be subject to a penalty in accordance with the monetary penalty schedule set forth below, except as set forth in paragraph (2) of this subdivision. The final actual assessed valuation for the property promulgated in the calendar year in which the income and expense statement is required to be filed will be used to determine monetary penalties. Final Actual Assessed ValuationPenalty Amount$40,001 to $99,999$300$100,000 to $249,999$750$250,000 to $499,999$1,500$500,000 to $999,999$3,000$1,000,000 to $4,999,999$5,000$5,000,000 to $9,999,999$20,000$10,000,000 to $14,999,999$40,000$15,000,000 to $24,999,999$60,000$25,000,000 and above$100,000 (2) Owners of income-producing property who fail to file an income and expense statement for three consecutive years shall be subject to a penalty of five percent of the final actual assessed value for the property promulgated in the calendar year in which such a statement was to be filed.
(3)[Reserved.] (4) Owners of income-producing property who are required to submit a claim of exclusion but fail to do so by the first day of June, or in the event of an extension, by the extended due date, will be subject to a penalty. Such penalty will not exceed the following amounts: (i) one hundred dollars for failure to submit a claim of exclusion in one year; (ii) five hundred dollars for failure to submit a claim of exclusion in two consecutive years; (iii) one thousand dollars for failure to submit a claim of exclusion in three consecutive years or more.
(5)Any penalties prescribed in subdivision (a) of 19 RCNY § 33-03 when entered in the records of the Department of Finance will be a lien on the real property as to which the statement or claim was required to be filed and will continue to be a lien until paid. The lien may be enforced by tax lien sale, in rem foreclosure, or any other means provided by law for enforcement of tax liens.
(6)If any penalty imposed under this subdivision is not paid within thirty days from the date it is entered in the records of the Department of Finance, interest will accrue on the amount of the penalty at the rate applicable to the affected real property for delinquent real property taxes, calculated from the date of entry to the date of payment.
(7)Innocent purchasers. In cases where the closing or finalizing of the sale of real property occurs after the filing deadline for income and expense statements and precedes the later of the publication of both lists described in paragraph (7) of subdivision (d) of § 11-208.1 of the Administrative Code or the first property tax bill to reflect a penalty imposed on such property for failure to file an income and expense statement or, when required, a claim of exclusion, the Commissioner may waive any such penalty and/or cancel the lien imposed as a result of such penalty, upon request of the owner of the property, provided the owner files in the electronic format prepared by the Department a properly completed innocent purchaser waiver request no later than one hundred and twenty days following the later of the publication of both lists or the first property tax bill to reflect such a penalty.
(8)The Commissioner, may for good cause, waive the requirement that the innocent purchaser waiver request form be filed electronically and permit the innocent purchaser waiver request form to be filed by means of a paper form. A request for waiver of the electronic filing requirement must be made in writing no later than ninety days following the later of the publication of both lists described in paragraph (7) of subdivision (d) of § 11-208.1 of the Administrative Code or the first property tax bill to reflect such a penalty. Any filing in paper format must be filed with the New York City Department of Finance at such address as may be designated by the Department.
(b)Denial of tax commission hearing. The Department of Finance shall provide to the Tax Commission a list of the income-producing properties whose owners failed to file an income and expense statement for use by the Tax Commission in determining if a hearing on any objection to the assessment of property shall be denied by the Tax Commission, pursuant to § 11-208.1, subdivision d, paragraph (2) of the Administrative Code.
(c)Subpoena of income and expense data. In the event that an income and expense statement has not been timely filed pursuant to 19 RCNY § 33-02, the Commissioner of Finance may compel by subpoena the production of the books and records of the owner relevant to the income and expenses of the property, and may make an application to any court of competent jurisdiction for an order compelling the owner to furnish the required income and expense statement. (Added City Record 6/12/2019, eff. 7/12/2019)
