Posts made by author 'Mathew Joseph'
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- 2026 | 21 Posts
- 2025 | 48 Posts
- 2024 | 58 Posts
- 2023 | 48 Posts
- 2022 | 48 Posts
- 2021 | 27 Posts
- 2020 | 53 Posts
- 2019 | 55 Posts
- 2018 | 27 Posts
3
Solar Tax Break in New York City
TAX BREAK FOR USING SOLAR POWER.
BY MATHEW JOSEPH
Solar power is a reliable, renewable source of electricity. Solar panels generate electricity, recover thermal energy for reuse and act as a roof covering. Using Solar power reduces demand on New York City's electrical grid. This tax abatement provides a property tax abatement to properties that use solar power.
NYC Department of Buildings (DOB) determines eligibility and approves the application while the Department of Finance administers the benefit. Tax Clas Class 1, 2 and 4 properties which does not receive ICAP, 421-a, 421-b, 421-g or pay PILOTs, are eligible for the Solar Electric Generating System Tax Abatement.
The amount of the benefit depends on the date your solar service starts. Use the chart below to locate the percentage of the installation cost based on the service's start date.
19
PROTECT YOUR PROPERTIES FROM TITLE THEFT.
PROTECT YOUR PROPERTIES FROM TITLE THEFT.
By MATHEW JOSEPH
Title theft has become prevalent in the United States now Title theft happens when someone uses a property owner's personal information to forge a deed and steal their home. Then the thief may apply for a home equity loan or line of credit in the homeowner's name and then fail to make payments—exposing the owner to foreclosure and credit damage.
In the case of unoccupied homes, the fraudster might sell the house without the owner's knowledge or rent out the property. The owner may lose their property through foreclosure or unauthorized sale. Seniors are vulnerable to these kinds of frauds.
To protect your house, be careful with your personal information, keep an eye on your property if it is unoccupied, keep track of your mail to see if all tax bills and notices from the authorities are received on time, monitor your credit report to look for suspicious activities, keep impo...
19
Correcting Property Assessment Clerical Errors. new York City.
Correcting Property Assessment Clerical Errors.
By Mathew Joseph.
In New York City appeals to the Tax Commission, request for review with the Finance department and other complaints regarding real property assessments have deadlines for filing. But the application for correction of clerical errors (CER) can be filed year around. The market values and assessed values of properties are based on the description of the properties on file with the New York City Department of Finance. It is a good idea to check the records periodically to make sure that the information on file with the Assessor's office is correct. You can do this by verifying the information on the Notice of property Value which is sent every year in January or checking the assessment roll. If there are any errors file an application with the assessment department. Errors going back six years can be corrected if proven by submitting documents like certificate of occupancy, surveys, copy o...
5
Assessments
If you own property, it's that time of year again
Posted Tuesday, December 26, 2023 2:49 pm
BY MATHEW JOSEPH
It is that time of the year again. By Jan. 5, the New City Department of Finance values and assesses your property every year to calculate your property tax bill.
Then the tentative assessment roll with the new market and assessed values will be published by Jan. 15. A notice of property value for each property is sent. The process is complex, but it works like this:
The Department of Finance determines your property's market value by tax class. Once your market value is established, your assessed value is calculated. The assessed value is a percentage of your market value.
The process varies depending on what type of property you own...
5
Tax Exemptions
PROPERTY TAX EXEMPTIONS.
By Mathew Joseph
The maxim, 'every penny counts' is true even in prosperous economic cycles. Let us discuss a few options for New York City homeowners to save money through real estate tax exemptions. Exemptions lower the amount of tax you owe by reducing your property's assessed value. If you already have an exemption, the notice of property value will show the amount of exemption you will receive for that tax year. Two common tax breaks are, Senior Citizen Tax Exemption and Veterans' Tax Exemption. Both are for owner occupied houses.
The Alternative Veterans tax exemption is available to eligible veterans of foreign wars, expeditionary medalists, veterans with honorable discharges, spouses/widow(er)s of veterans, and Gold Star parents. Applicants for the Alternative Veterans exemption must have served in one of the following conflicts: Gulf War, Iraq and Afghanistan conflicts, Vietn...
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