Fines for failing to file a report as part of last year’s tax payments have exceeded $300,000 for some building owners.
An investigation by the New York Post found fines ranging from $1 to six digits for neglecting to file the city’s 2012 Real Property Income and Expense Report. The New York City Department of Finance uses the report to estimate the market value of properties for tax purposes, according to the department’s website. In some cases, owners were fined $100 for simply neglecting to notify the city that they are not required to file the report, according to the Post. [more]