Nearly 100 mixed-use borough buildings have been improperly assessed by the Department of Finance and therefore taxed at an incorrect, lower rate, according to an audit released this week by City Comptroller Scott Stringer.
Prompted by the report’s findings, Finance has already begun to correct the tax status of the 97 buildings in Queens that auditors determined were misclassified.
According to Stringer, properties in New York City are given one of four tax classes: Class 1 are one- to three-unit buildings, primarily used for residential purposes; Class 2 are all other residential properties; Class 3 are properties owned by utilities and special franchises; and Class 4 are all other properties not in Class 1, 2, or 3. The audit examined whether Class 1 mixed-use buildings in Queens were properly assessed and taxed by the Department of Finance as of May 2015.
Auditors identified 97 buildings that were misclassified as Tax Class 1 mixed-use buildings, and taxed at a lower rate than they should have been. DOF agreed that 78 properties should be taxed at 45 percent of market value, instead of the residential rate of six percent at which they had been taxed, and that 19 properties required additional interior inspection, Stringer noted.
In total, Stringer’s office estimated that, after the changes are made, the City will bring in an additional $1.28 million in taxes over the next five years.
Auditors also found that 33 of the misclassified buildings in Queens had been inspected by DOF assessors within the last three years – raising questions about the agency’s training and inspection process.
Tuesday, June 21, 2016
Audit finds lots of misclassified buildings
Posted by Queens Crapper at 6:51 AM
"an additional $1.28 million in taxes over the next five years."
I can already hear the politicians saying:
How can we spend that???
Actually, the pols are saying "how can I get my piece of that...?". I don't think they care how it ends up getting spent.
Are these buildings that the city has been too lazy to assess properly or are they family dwellings that now have a business run out of the first floor?
They should get on with collecting those taxes and whatever penalties are appropriate.
Typical government agencies, will increase taxes rather than get off their asses and collect the proper fees/taxes.
I would also question the integrity of the assessors...
hi does anyone no how to report buildings to the assessor there are quite a few buildings in my area that i would love to report these guys are getting away with lots n lots of unreported income from there properties while we have to all pay increases for strains on city services one place had a c of o from the 70's as an owners apt on the 2nd floor of a warehouse they renovated it into a 4 apartments and are collecting big rents after numerous complaints to 311 about the situation not a single thing has been done
Who gives a fuck, as long as I make money on my shitty manors.
Post a Comment