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                           TAX COMMISSION OF THE CITY OF NEW YORK                                            TC108INS 
                           1 Centre Street, Room 2400, New York, NY 10007                                    2024/25 
                           FORM TC108 APPLICATION AND INSTRUCTIONS 
                  APPLICATION FOR REDUCTION OF ASSESSED VALUE FOR ONE, TWO 
                   OR THREE-FAMILY HOUSE OR OTHER CLASS ONE PROPERTY ONLY 
                  SHOULD YOU FILE TC108?                              do not apply to increases in assessed value due to physical 
                                                                      improvements to the property or to the expiration or removal 
 You should apply for a reduction in the ASSESSED 
 VALUE of the property if you believe that the ASSESSED                of an exemption.   
 VALUE for the property on the Notice of Property Value is            Additional information is available in the “Class 1 Property 
 too high.                                                            Tax  Guide” available  on the  Finance website  at: 
 Ask  yourself: “What would the property sell for today?” Then,       http://www1.nyc.gov/assets/finance/downloads/pdf/brochur
 multiply your estimated selling price by 6% (.06). 
 
 If the result is less than the ASSESSED  VALUE  of the property       es/class_1_guide.pdf 
 shown on the Notice of Property Value, you should file TC108. If     YOU CANNOT USE TC108: 
 the result is more  than the ASSESSED  VALUE  shown on the           •      to protest the market value or estimated market value 
 Notice of Property Value, you should not file TC108.                        shown on the Notice of Property Value  
 Note  that  if  your  property  is  refinanced  and  the  appraisal  •      to apply for a reduction in the assessed value of a tax 
 indicates a value at or above its effective market value you have 
 no claim.                                                                   class 2, 3, or 4 property;  
                                                                      •      to  request  a  change  in  the  tax  class  or  request 
 
                                                                             exemptions; or 
GENERAL INFORMATION 
                                                                      •
Every January, the  NYC  Finance Department (Finance)                        to  correct errors  in  the  physical description of the 
mails a Notice of Property Value for each property in the                    property.  
City. That Notice shows the assessed value for the next tax           FILING TC108 
year, which runs from July 1 to June 30.                              DEADLINE FOR  FILING:  The Tax  Commission must 
If you did not receive a Notice of Property Value, you                receive the Form TC108 by 5:00 P.M. on March 15, 2024.  
can  get the  assessed value  for the  property from the              There  are no extensions.     
Finance                      website                     at           File the original signed TC108 and any attachments with 
http://www1.nyc.gov/site/finance/taxes/property.page or by            the Tax Commission. Be sure to keep a copy of TC108 
calling 3-1-1 (1-212-NEWYORK outside New York City).                  and all attachments for your records and to use at 
THE  TAX  COMMISSION IS  A  SEPARATE  AGENCY                          your hearing. YOU MAY NOT FILE TC108 BY FAX OR 
FROM FINANCE.   TO  HAVE THE  TAX COMMISSION                           BY E-MAIL.  
REVIEW THE ASSESSED VALUE OF THE PROPERTY,                            Filing in person.  You may file Form TC108 in person at 
YOU MUST FILE TC108 EVEN IF YOU DID NOT RECEIVE                       the Tax  Commission at  the  David N.  Dinkins Municipal 
A NOTICE OF PROPERTY VALUE.                                           Building, 1 Centre St., Room 2400, in Manhattan or at one 
All City property is divided into four classes. CLASS ONE             of the Finance Business Centers in any borough.  You can 
includes 1-, 2-,  and 3-family homes and small stores or              get the address of the Finance Business Centers from Form 
offices with only one or two apartments attached. Class one           TC600,      on        the     Finance  website        at 
also includes vacant land outside Manhattan zoned for                 http://www1.nyc.gov/site/finance/taxes/property.page or by 
residential use, and some condominium units in buildings              calling 3-1-1  (1-212-NEWYORK outside New York City).    
no more than three  stories high.   The Tax Class for the             Get a date-stamped receipt (Form TC10), which is the only 
                                                                      acceptable proof of timely filing.   
property is on the Notice of Property Value.                           
MARKET VALUE:              Market value is the price that the         Filing by mail. Mail your application to Tax Commission, 1 
property would sell for in the current market based on its            Centre St., Rm. 2400, New York, NY 10007.   Write your 
                                                       th
condition, ownership and use  as  of January 5 .    Your              name and address and affix a postage stamp on the back 
property has a market value even if you do not currently plan         of Form TC10. The Tax Commission will date stamp and 
to sell it. The Notice of Property Value includes Finance’s           return the TC10 as the only acceptable proof of timely filing. 
                                                                      Proof of mailing, or a return receipt from the post office or 
 estimated market value for the property.                             an express delivery service, is not adequate proof of receipt 
Finance’s starting point in calculating the assessed value of         by the Tax Commission.   If you do not include sufficient 
a  property is  to  apply a  percentage called the  Class             postage  on  the  self-addressed  form  TC10,  the  Tax 
Assessment Ratio to Finance’s estimated market value of                Commission will NOT return it to you. 
the property. The Class Assessment Ratio for tax class one 
property is 6%.  By law, Finance cannot raise the assessed            If you receive a Revised Notice of Assessed Value or a 
value of a class one property by more than 6% each year or            Notice of Apportionment from Finance dated after February 
by more than 20% in a five-year period.  Because of those             1, 2024, the Tax Commission will review your Form TC108 
limits, the assessed value on the Notice of Property Value            if the Tax Commission receives it within 20 calendar days 
may be less than 6% (the Class One Assessment Ratio) of               after the date printed on that notice even if received after 
                                                                      March 15, 2024. Attach a copy of Finance’s Revised Notice 
the market value shown on that Notice. NOTE: The limits 
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  to the TC108.                                                         Section 8. SALE, DEMOLITION, CONSTRUCTION AND 
 LINE-BY-LINE INSTRUCTIONS.  Do not leave any item                      REFINANCING.     If there was construction at the property 
 blank. Enter N/A (“not applicable”), “0” (zero) or “unknown”           since January 5, 2022, include the total of all direct and 
 where appropriate. Type or print your answers in ink.  If              indirect cost of the construction. See TC600. If the property 
 you are  NOT  using a  double-sided form, the  individual              has been refinanced since January 5, 2021, attach a copy 
 signing the Form TC108 must initial the bottom of the first            of  the  appraisal  report  or  other  appraisal  documents 
 page.  Your application may not be reviewed if you do                   showing the appraised value of the property.   
 not answer all questions.                                              Section  9.  INFORMATION IN  SUPPORT       .   You must 
 Section 1. PROPERTY IDENTIFICATION.  The block and                     submit  information  supporting  your  estimate  of  the 
 lot for the property are on the Notice of Property Value and           MARKET VALUE of the property either with the TC108 or 
 are  available on the  Finance website.   You must file a              at the in-person hearing. The price for recent sales of similar 
 separate Form TC108 for each lot unless you are filing for             properties is a good indication of the property’s MARKET 
 condominium units. Before you file for a condominium unit,             VALUE.   Note: foreclosure sales  and  sales  of  partial 
 ask the board of managers if they are filing for your unit. If         interests or between family members are not considered 
 two applications are  filed for the same unit,  one of the             proof of market value.  In addition to sales information, you 
                                                                        can submit a recent professional appraisal report for the 
  
 applications must be withdrawn.                                        property. If the Applicant recently bought the property or it 
 Section 2.  APPLICANT.  The Applicant must be a person                 was recently sold or listed for sale, you also can submit 
 or entity directly affected by the assessment (e.g., the owner         documents proving the sale or list price for the property. 
 or a tenant that pays all of the property taxes.)  IF THE              Check the box at the bottom of Section 9 if you are attaching 
 APPLICANT IS  NOT  AN  OWNER  OR  TENANT  WHO                          additional proof of value. 
 PAYS ALL  OF THE TAXES, YOU MUST  FILE FORM 
 TC200  WITH  FORM  TC108.    See  TC600  and  TC200                    WHERE TO GET RECENT SALES INFORMATION. Sales 
                                                                        information  is  posted  on  the  Finance  website  at: 
  Instructions for more information.                                    http://www1.nyc.gov/site/finance/taxes/property-
 Check the box to the left of the applicable description of the         assessments.page. You also can  get  sales information 
 Applicant.  If the Applicant is the board of managers of a             about specific properties at nyc.gov/acris.  You also can ask 
 condominium, also check the box to the left of the applicable          local real estate brokers for information on recent sales of 
 source of the board’s authority to file and attach a list of the       similar  properties.  The  Tax  Commission  does  not 
 lots covered.                                                          recommend other websites, but sales information is also 
 Section 3.  CONTACT  INFORMATION.      Enter the                       available at commercial websites. 
 requested information  for  the  individual or  firm  to  be           Section 10.  SIGNATURE AND  CERTIFICATION.         The 
 contacted in  connection with  this  application, either  the          Form TC108 must be signed by the Applicant, by a fiduciary 
 Applicant (including a principal, officer or employee of the           for the Applicant such as an executor, guardian, trustee or 
 Applicant) or a representative appointed by the Applicant.             receiver, or by an agent of the Applicant who has personal 
 Only the designated representative may contact the Tax                 knowledge about the property. NOTE: an agent cannot be 
 Commission about the application and the Tax Commission                listed as the  Applicant even  if the  agent is  signing the 
 will only contact the designated representative about the              TC108.  If a  fiduciary signs the TC108, the fiduciary also 
  application.                                                          must attach a copy of the documents proving his or her 
 Section  4.  CLAIM  OF  MARKET  VALUE. Enter  your                     authority to sign for the Applicant.  An agent or appointed 
 estimate of the MARKET VALUE of your property.                         representative  cannot  sign  the  TC108  unless  the 
                                                                        representative  has  personal  knowledge  about  the 
 Section 5. HEARING REQUEST.     You can ask for an in-
                                                                        property.  If an agent or representative signs the TC108, 
 person hearing at the Tax Commission’s Manhattan office, 
                                                                        you must attach Form TC244 and a power of attorney to 
 a  hearing by telephone, a  hearing by video conference 
                                                                        the  Form TC108.    Check the  box to  the  left  of  the 
 using  Microsoft Teams  or  you  can  ask  to  have  the 
                                                                        appropriate description of the individual signing the TC108. 
 application reviewed based only on the papers submitted 
                                                                        See TC600, TC200 Inst. and TC244 for more information. 
 with Form TC108.  Check the box to the left of your choice.             
 Check only one box. If no box is checked, the application              CORRECTING ERRORS ON TC108 AFTER FILING.  The 
 will be reviewed on the papers submitted without an in-                corrected information must be provided on a Form TC159 
                                                                        either mailed or delivered to the Tax Commission at the in-
  person hearing. 
                                                                        person hearing.   
 NOTE: A  $175  fee  is required for applications if  the                
 2024/25 assessed value of the notice of property value                 Tax Commission  forms  are available  at  the Tax 
 is $2 million or more.  DO NOT PAY THE FEE WITH THIS                   Commission’s office  at  1  Centre  St.,  Rm.  2400,  in 
 APPLICATION. SEE TC600 FOR MORE INFORMATION.                           Manhattan, any  Finance Business Center  or  the  Tax 
                                                                        Commission                   website                    at 
 Section 6. PROPERTY DESCRIPTION.  If there has been 
                                                                        www1.nyc.gov/site/taxcommission/index.page.   
 a physical alteration or addition to the property since the 
 Applicant acquired it, describe the alteration or addition and 
 the year it was made.  
  
 Section 7. If any part of the property was rented during the 
 last calendar year for any nonresidential use, such as an 
 office or store, attach a completed Form TC201 or TC203 
 for a condominium.  
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                                    TAX COMMISSION OF THE CITY OF NEW YORK 
                                                                                                                                          TC108 
                                    1 Centre Street, Room 2400, New York, NY  10007 
                                                                                                                                          2024/25  
              APPLICATION FOR CORRECTION OF ASSESSED VALUE FOR ONE, TWO                                                                                                  
                                                                                                                                                                         
              OR THREE-FAMILY HOUSE OR OTHER CLASS                                       ONE PROPERTY ONLY 
 YOUR COMPLETED FORM TC108 MUST BE RECEIVED BY THE NYC TAX COMMISSION AT 1 CENTRE ST., RM. 2400, 
 NEW YORK, NY 10007 BY 5:00 P.M. MARCH 15, 2024. See Instructions “Filing TC108”. 
 However, if you received a Revised Notice of Property Value increasing your assessed value or a notice of apportionment 
 from the Dept. of Finance dated after February 1, 2024, you have 20 calendar days after the date of the notice to file Form 
 TC108.  Check the box next to the type of notice you received and attach a copy of the notice:   
   Apportionment notice    Notice of increased assessment.                  
 YOU CANNOT  USE THIS  FORM TO:  (i)  request a change in  the  estimated  market value,  physical 
 description  or building  class of your property; (ii) apply for a reduction in the assessed value of a class 2, 
 3 or 4 property; (iii) request a change in tax class; or (iv) claim an exemption. 
 READ TC600 AND ALL INSTRUCTIONS BEFORE COMPLETING THIS FORM.  TYPE OR PRINT IN INK. DO NOT USE 
 PENCIL. COMPLETE ALL PARTS 1 THROUGH 10.  Go to www.nyc.gov/html/taxcomm for forms and instructions.   
 NEW: NONRESIDENTIAL RENTAL ACTIVITY MUST BE REPORTED ON TC201 OR TC203. See Part 7 below. 
 NOTE: A $175 FEE applies to applications if the 2024/25 assessed value is $2 million or more.   Do NOT pay the fee with this 
 application; it will be included in your property tax bill.  See TC600 for more information about the fee. 
  1. PROPERTY IDENTIFICATION - A separate application is required for each tax lot, except for condo units.                                                               2024/25   _________       ______         ______     ______                                                           YEAR      BOROUGH       BLOCK         LOT        GROUP #  8 
BOROUGH (Bronx, Brooklyn, Manhattan, Queens or Staten Island)        BLOCK                         LOT                    ASSESSMENT YEAR 
                                                                                                                            2024/25 
FULL ADDRESS OF PROPERTY (INCLUDING ZIP CODE) 
 
  2. APPLICANT - The Applicant must be an owner or other person directly affected by the assessment. 
                             An attorney or agent, other than the board of managers of a condo, cannot be the Applicant. 
  a) APPLICANT’S  NAME: _____________________________________________________                       
  b) APPLICANT DESCRIPTION  (CHECK ONE):     
    Owner  
    Tenant paying all taxes 
     Other (specify): ______________________________________(Attach TC200 and documentation specified in Part 2 of TC200.) 
     IF YOU DON’T SUBMIT FORM TC200, YOUR APPLICATION WILL NOT BE REVIEWED. 
     Condo board of managers designated as agent for condo unit owner to contest assessment (Attach list of covered lots).   
       Source of Board’s authority (check one):      By-laws     Individual authorization, valid under applicable law     Power-of-Attorney     
  3. CONTACT INFORMATION - Supply information for Representative or Applicant, if self-represented. (See Instr.) 
NAME OF INDIVIDUAL OR FIRM TO BE CONTACTED                                                   GROUP #, IF ANY  PHONE NO.:                                                
                                                                                                            (_________)  _________-----______________ 
MAILING ADDRESS:                                                                             EMAIL ADDRESS: 
   
  Will an appointed Representative handle this application for the Applicant? (Check One):                                No    Yes   
If “Yes”, check type of Representative:   Attorney   Other         (specify): _______________________________________      
  4. VALUATION CLAIM – IF YOU DO NOT FULLY COMPLETE THIS PART 4, YOUR APPLICATION WILL BE 
  DISMISSED. The Tax Commission cannot change the estimate of market value shown on your Notice of Property                                                                                                                                                                                     
  Value. See instructions for an explanation of market value .
   a) Applicant's  estimate of market value (what the property  
      would  sell for in the current market):                                                 a)   $ ___________________________________ 
                                                                                                                                                                                                                                     TC108
   b) Multiply  line  a by 6% (.06)                                                     b)  $ ___________________________________ 
    
   c) Assessed Value (from Notice of Property Value)                              c)  $ ___________________________________                                                                                                                                                                     
  If line c is less than line b, DO NOT FILE TC108. 
  You have the right to allege an assessment ratio lower than the 6% ratio used in setting the assessment and seek a lower assessment 
  in a proceeding for judicial review.   See TC600 available at:  www.nyc.gov/html/taxcomm. 
  5. HEARING REQUEST - Check one box only. 
 Review on papers submitted WITHOUT an in-person hearing   
                                                       OR                                                            
 In-person hearing in Manhattan                                                                                     
 Telephone hearing                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                          
 Video conference using Microsoft Teams                                                                                                  
                                                                                                                            DATE RECEIVED 
 
The signer of this application must initial this page if a two-sided application form is not used. Signer’s initials  ________   



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6. PROPERTY DESCRIPTION AS OF JANUARY 5, 2024 – Complete every item.   Note: The Tax Commission cannot 
change the physical description of your property that appears on your Notice of Property Value.  See Instructions.  
NUMBER OF KITCHENS                           NUMBER OF BATHS                                                   NUMBER OF BEDROOMS                NUMBER OF OTHER ROOMS 
                                              
NUMBER OF STORIES (ABOVE BASEMENT)           YEAR OF CONSTRUCTION (IF KNOWN)                                   NUMBER OF PARKING SPACES ON THE PROPERTY 
                                                                                                               Indoor (garage): ______________                     Outdoor:  ________________ 
YEAR AND DESCRIPTION OF LAST PHYSICAL ALTERATION OR ADDITION SINCE APPLICANT ACQUIRED THE PROPERTY 
 
a) The property is:                                                                                            
      1-family house      2-family house       3-family   house       
      Vacant lot zoned residential and located outside Manhattan.      
       Class One condominium unit        (A condominium board filing for unit owners must attach a schedule including a detailed physical description 
       and condition of each unit covered by the application.  Include special features and alteration data.)   
      Other (describe): __________________________________  If OTHER, enter number of residential units: ___  and number of commercial units: ___ 
b) Is there a basement?    
       No         Yes, unfinished space only          Yes,finished living space 
7. NONRESIDENTIAL RENTAL ACTIVITY –                                   THIS PART MUST BE COMPLETED  
Was any portion of the property rented or offered for rent for any nonresidential use (for example, commercial, retail or office use) in 2023?       
       No      Yes                NEW:     IF YES, YOU MUST FILE TC201 (or TC203 for a condo board of managers).     
8. SALE, CONSTRUCTION, DEMOLITION OR REFINANCING – COMPLETE ALL ITEMS. Attach extra pages if needed. 
a) Did the current owner buy this property after January 5, 2022?     
       NO      YES       IF YES   :  Seller’s Name:_________________________________________ Closing Date: ____/____/____  
Price:$_________________ 
b) Has the current owner of this property signed a contract to sell it?      
       NO      YES      IF YES:  Buyer’s Name:_________________________________________ Contract Date: ____/____/____  Price:$________________ 
c) Is the property being offered for sale now?        
       NO      YES      IF YES, report the details of offering, including asking price: ____________________________________________________________ 
d) Since January 5, 2022 has the property been refinanced?   
       NO      YES       IF YES   , attach documents showing what the property was appraised at when it was refinanced.  
e) Since January 5, 2022 has there been any construction, demolition or major alteration work or have plans for demolition or a new building been filed with 
the Buildings Dept.?           
      NO      YES       IF YES: (1) what work was done?    __________________________________________________________________________ 
                                          (2) Date the work started: _____/______/______       Date the work was, or will be, completed: ______/______/______ 
                                          (3) the total direct and indirect cost: $__________________________________  
9. INFORMATION IN SUPPORT – You must complete this part if you checked “Review on Papers” in Part 5.   Check here if sales or other proof of market value is provided on attached sheets.  
If you are requesting an in-person hearing, you may provide this information at the hearing.  See instructions for 
information on how to find comparable sales information or other evidence of market value.   
                                                                                 Sale 1                                               Sale 2                                                     Sale 3                        
Sale Date                                            ___________________________        ___________________________        ___________________________ 
Sales Price                                          ___________________________        ___________________________        ___________________________ 
Address                                              ___________________________        ___________________________        ___________________________ 
Block/lot                                              ___________________________        ___________________________        ___________________________ 
Total dwelling units                             ___________________________        ___________________________        ___________________________ 
10. SIGNATURE AND                      CERTIFICATION  See Instr. and TC600 “Who May Sign”                           BOROUGH                      BLOCK                     LOT 
This application must be signed by an individual having personal knowledge of the facts who is: the owner or other Applicant named in Part 2 on the first page 
of this application, a fiduciary such as an executor, trustee or guardian, or another authorized individual acting for the Applicant.   
a) Print clearly  name of person signing: ________________________________________________________________  
b) The person signing is (check one box only): 
      The Applicant (check this box only if Applicant  is an individual)     
      Fiduciary. Specify fiduciary’s relationship to Applicant _________________________ (If this box is checked, Form TC200 may be required. 
       See Form TC200 instructions. Write “Special Counsel Review” on the top of page 1.)                                         If signing as fiduciary for a corporation, 
       partnership or LLC, enter name of entity ________________________________ 
      An officer of a corporate Applicant.  Title: _________________________________                              
      An officer of the condominium board of managers.  Title: ______________________________________                                 
      General partner of partnership Applicant       
      Member or manager of, or individual officer of, LLC Applicant     Signer’s Title: ______________________________________ 
    An attorney, employee, property manager or other agent for the Applicant. (If you checked this box, a notarized Power of Attorney AND 
       Form TC244 must be attached or your application will be dismissed.)                                      Write “Special Counsel Review” on the top of page 1.) 
CERTIFICATION I have read this entire application before signing below, including all relevant instructions, whether on this form or on another.  
I am personally responsible for the accuracy of the information provided on this application and on all attachments, and I certify that all such 
information is true and correct to the best of my knowledge and belief.  I also understand that such information is subject to verification, is being 
relied upon by the City of New York and that the making of any willfully false statement of material fact on this application or any attachments will 
subject  me to the provisions of the penal law relevant to the making and filing of false statements. 
Signature of individual named in item (a) above: ___________________________________________________ Date: _________________ 
      
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