Property owners of most properties assessed over $40,000 in New York City are required to file a Real Property Income and Expense statement (RPIE-2020) with the Department of Finance by June 1, 2021. This must be filed electronically and include 2020 income and expense information. Special filing requirements apply to hotels, storage facilities, gas stations, nursing homes, day cares, and theaters. Additionally, owners of properties with ground-floor or second-floor storefronts must register these spaces using the RPIE statement. Failure to file can result in penalties up to $100,000 based on the property's assessed value.

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2. TAX ASSESSMENT XPERTS

3. RPIE 2021 ADVISORY
Filing deadline June 1, 2021
Most properties with assessments over $40,000 are required
to file a Real Property Income and Expense statement (RPIE-
2020) with the New York City Department of Finance
(Finance). Unless Finance has granted an e-filing waiver, you
are required to electronically file the RPIE-2020 . To
complete this electronic filing you will be required to provide
2020 income and expense information.

4. Special requirements for the filing of the RPIE-2020 continue for the following types of properties
Hotels Storage Facilities Gas Stations
Nursing/Day Care Theatres

5. Storefront registry
Property owners who have ground-floor or second-
floor storefronts must register these spaces with the
City using the RPIE statement. Be sure to complete
Section S in your RPIE statement. This applies to all tax
class two and four property owners with ground-floor
or second-floor storefronts, even if you are otherwise
exempt from filing an annual income and expense
statement. Owners of class one property in
commercially zoned areas must register their
storefronts if the space was vacant or owner-occupied
for any days during the previous year. (More
information can be found on the storefront registry
user guide found at the following link
https://www1.nyc.gov/site/finance/taxes/storefront-
registry-requirement.page).

6. RPIE Exclusion. There are certain properties that are legally excluded from the RPIE filing
requirement. Property owners who claim an exclusion must do so by completing Section D
of the RPIE.
Penalty for failure to file. Failure to file a timely RPIE-2020 could result in a first-time penalty of
up to $100,000 (based on the 2021/22 final assessed value) and the denial of a 2022/23 Tax
Commission hearing.
Rent Roll. RPIE filers whose properties have an actual assessed value of $750,000 or
greater will be required to file an addendum containing rent roll information. Once again, the
information must be uploaded using the City’s spreadsheet form, available in the RPIE-2020
filing.
Short Form Option. If, on the 2021/22 Tentative Assessment Roll, your property has an Actual
Assessed Value of $250,000 or less and is not a hotel, adult care/nursing home facility, gas
station/car wash/oil change facility, self-storage facility or theatre/concert hall you may complete a
shorter RPIE application instead of the standard RPIE. If the property is eligible for the short form,
you will be given the option when you begin the RPIE-2020 filing process online.

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