§ 4-12 Offer and Acceptance.
RCNY § 4-12
(a)An offer to correct an assessment requires that an error in assessment either be established by the applicant by a preponderance of the evidence or be admitted by the Department of Finance.
(b)An offer may be extended upon such conditions as the Tax Commission deems just and equitable under the circumstances.
(c)An offer may encompass the assessment for the current year and the immediately prior year or an earlier year authorized by Administrative Code § 11-225.
(d)An offer to correct an assessment may be based in whole or part on error in assessment for an earlier year provided such error is established and a valid Real Property Tax Law article seven petition to correct the earlier assessment is pending.
(e)A notice of offer and acceptance agreement will be issued in writing to the representative or self-represented applicant.
(f)An offer shall be accepted in the form prescribed for that purpose within the time stated in the notice of the offer. The time for acceptance shall not be less than ten days.
(g)Upon failure to file the acceptance within the time stated, in the proper form, and with all required papers, as prescribed in the acceptance agreement, the offer shall lapse and the assessment shall be confirmed.
(h)A change to a prescribed term of an acceptance shall make the attempt to accept an offer ineffective.
(i)An acceptance is filed when it is received in the Tax Commission's Office. A Tax Commission receipt form is the only proof of timely filing recognized by the Tax Commission.
(j)If, after an offer and before acceptance, there has been a transfer of the property or the applicant's interest in the property, execution of a contract to sell, or a new net lease negotiated or executed, these facts shall be disclosed in the form prescribed for that purpose with a request for re-offer within the time allowed for acceptance, unless the applicant chooses not to accept the offer.
(k)Offers are subject to review and approval and revocation by the Tax Commission.
(1)The Tax Commission may withdraw an offer at any time and for any reason prior to the Tax Commission's approval of the offer, whether or not such offer has been accepted. Upon withdrawal of an offer, the Department of Finance shall reinstate the original assessment.
(2)An offer may be revoked within six years after its approval by the Tax Commission on grounds of illegality, irregularity, fraud or misrepresentation in the application or in oral or written submissions in support of the application, or because the applicant or any person acting for the applicant is convicted of, or enters a plea of guilty to, a crime related to the assessment of the property. Upon revocation of an offer, the Department of Finance shall reinstate the original assessment and may impose additional taxes with interest. The applicant shall forthwith return any refund paid as a result of the offer.
(l)This section shall not apply to determinations on applications claiming full or partial exemption, except to final determinations signed by the President. Paragraph (1) of subdivision (k) does not apply to final determinations described in this subdivision. (Amended City Record 10/31/2022, eff. 11/30/2022)
