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TAX COMMISSION OF THE CITY OF NEW YORK TC108INS
1 Centre Street, Room 2400, New York, NY 10007 2023/24
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, 2023.
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
condition, ownership and use as of January 5 . Yourth 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, 2023, 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, 2023. 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, 2021, 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
2023/24 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
2023/24
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, 2023. 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, 2023, 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 2023/24 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. 2023/24 _________ ______ ______ ______ YEAR BOROUGH BLOCK LOT GROUP # 8
BOROUGH (Bronx, Brooklyn, Manhattan, Queens or Staten Island) BLOCK LOT ASSESSMENT YEAR
2023/24
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, 2023 – 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 2022?       
       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, 2021?     
       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, 2021 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, 2021 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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