Commercial Property Appeals and Income & Expense

Complaints on assessment (grievances) for commercial properties are subject to the town's Local Law No. 1 of the year 2013, entitled “Income and Expense Statements.”  Accordingly, the petitioner (or petitioner's representative) is required to submit to the Assessor’s Office (not later than seven (7) days after filing a grievance) copies of the most recent income and expense statements as per the terms and conditions outlined in the attached Local Law.  

For example, 2021 complaints on assessment annual income and expenses for calendar year 2020 are required.

It is EXTREMELY IMPORTANT to note that in the event that an income and expense statement is not filed a penalty of three percent (3%) of the assessed value will be levied against the property.  

It is mandatory that the submission of the income and expense statements be filed electronically (see link on right). Whenever possible, the Town's income and expense report should be supplemented by profit and loss statements and/or audited financial statements prepared by an accountant, but the online submission must be completed, signed, and dated, regardless.

The online submission allows you to upload additional documentation such as tax returns, profit and loss, rent rolls, correspondence, photos, authorizations, etc. Please note there is a 250MB limit on what can be uploaded, but it can be in a .pdf, Word, Excel, .jpg/photo format,etc.

NOTE:  The information filed and furnished will remain confidential and not open to public inspection (NYS Office of Real Property Services Opinion of Counsel SBRPS No. 10-17).

Representatives and Attorneys filing multiple grievances must complete a log of all submissions (click here).

‍Related Links

• Town of Rye 2013 Income and expense Law
• Income & Expense Data Worksheet (online submission)
• NYS Opinion of Council 10-17 (regarding confidentiality of income and expenses)