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TAX COMMISSION OF THE CITY OF NEW YORK

1 Centre Street, Room 2400, New York, NY 10007 TC109INS
2023/24
2023/24 INSTRUCTIONS FOR FORM TC109

APPLICATION FOR CORRECTION OF ASSESSED VALUE OF
TAX CLASS TWO OR FOUR CONDOMINIUM PROPERTY

Read TC600 How to Appeal a Tentative Assessment 2023. The deadline is set by law and cannot be waived
before you begin to complete this form. If you are or extended for any reason.

representing yourself and are filing for a single unit (or
Filing by mail. Mail the completed Form TC109 to the
two or more units that have been physically combined),
Tax Commission, 1 Centre Street, Room 2400, New York,
read TC109INS Supplemental before completing this
NY 10007. DO NOT MAIL THE TC109 TO ANY OTHER
form.
ADDRESS. Applications received after the March 2
Who should use this form? Condominium owners, or a deadline will not be accepted even if they were mailed
condominium board of managers acting as the agent of before that date. Include a self-addressed, stamped
the condominium owners, should use this form to claim a Tax Commission receipt Form TC10.

reduction of the 2023/24 tentative assessed value of
Filing in Person: Bring the completed Form TC109 to the
condominium property in tax class two or four (including
Tax Commission’s Manhattan office at 1 Centre St. or to a
two-unit condominiums and condominiums owned by
Finance Department Business Center in any borough by
cooperative apartment corporations). A single form may
the deadline. Get a date-stamped receipt (Form TC10).
include one unit, multiple units or all units of a
condominium, provided all units are on one tax map block. A date-stamped Form TC10 is the only acceptable

proof of timely filing. Proof of mailing, or a return
What authorizes a condominium board of managers to
receipt from the post office or an express delivery
be an agent? The authority of the condominium board of
company, is not acceptable proof of timely filing with
managers to file Form TC109 as the agent of a unit owner
the Tax Commission.
may be contained in (a) the condominium’s by-laws, (b) a
power-of-attorney, or (c) an individual authorization valid File an original. Keep a photocopy for your records and to
under applicable law. The Tax Commission will review use at your hearing. See TC600 for information about
only one Form TC109 for any given unit. If the unit owner filing additional copies.
and the board each files separately for the same unit, they
each will be notified that one of the applications must be Applications require an original signature and,
withdrawn. therefore, may not be filed by fax or e-mail.
Additional forms may be required to be submitted with
Do not use this form to claim (a) an exemption or a the application in particular cases. These are the
change in tax class (use Form TC106), or (b) for a tax additional forms most commonly required:

class one condo property (use Form TC108).
TC200 Addendum to Application. Form TC200 is required:

FEE FOR CERTAIN PROPERTIES. • If the Applicant is not i) the owner of the entire property, and
A $175 fee is required for all applications where the not ii) a tenant of the entire property who pays all taxes and
assessed value on the notice of property value for expenses of the property and who has the right to protest the
2023/24 is $2 million or more. If multiple condominium assessment;
units file on a single application, the fee will apply if
•
the aggregate assessed value is $2 million or If the Form TC109 is to be signed by a fiduciary;

more. No fee is due if the Applicant or representative • If the Applicant answers “YES” to either question in part 8 of
waives review of the application before it is scheduled Form TC109 regarding sale, demolition or construction at the
for review. If the fee is unpaid, review of your property. If a sale or contract of sale is between unrelated
application may be denied and any offer of correction parties, file Form TC230 instead of Form TC200.

revoked. The fee will be included on the Real Property
Tax bill. DO NOT PAY THE FEE WITH THIS NOTE: TC200 is no longer required to be filed for applicants
APPLICATION. making valuation claims for one or more individual

residential or commercial units without regard to the value
When and where to file. The Tax Commission must
of the entire condominium. Complete Part 7 of TC109
receive your application by 5:00 P.M. on March 01,

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instead. unit (or two or more units that have been physically

combined), you only need to complete Parts 1 through 8.
TC201. Income schedule – rent-producing properties.
When completing Part 6, complete only lines a through d
Applicants filing for only one or two rented residential units
for “units covered by application” and use the amounts
may instead list the gross rental income or submit copies
from the worksheet on Form TC109INS Supplemental.
of the leases.

Part 1: Identify the property. List all lots on one tax map
TC203. Income schedule – cooperative or condominium.
block covered by the application in the boxes and on the
But if the condominium began operation after July 1,
lines provided. Use a separate form for lots on a different
2022, or if it is exclusively residential with six or fewer
tax map block. Unless (a) only a single lot is covered, or
units, Form TC203 is not required. Applicants for
(b) all lots are covered, list the covered lots on the range
condominium units owned by a cooperative apartment
lines provided. A range is a sequence of consecutively
corporation must also file Form TC203.
numbered lots, with no omissions other than those that
TC208. Income schedule – hotel or motel. If the units are actually are omitted on the assessment roll itself. If one of
partially rented Form TC201 also must be filed. the lots in a range is not included in the application, skip

over it by ending the range at the preceding lot and start
TC214. Income schedule – department stores, theaters another range at the next covered lot. If more space is
and parking sites. If the units are partially rented Form needed, attach additional sheets that use a similar format.
TC201 also must be filed.

Part 5: Hearing request. You can ask to have an in-
TC230. Sale statement – sale, transfer or sale contract. person hearing at the Tax Commission’s main office in

TC244. All Applicants whose Form TC109 is signed by an Manhattan at 1 Centre Street, or you can ask to have the
agent must also file an Agent’s Statement of Authority and application reviewed based only on the papers submitted
Knowledge Form TC244. with Form TC109. Check the box to the left of your choice.
Check only one box.
TC309. Accountant’s certification
Part 7: Condo Unit Description. Part 7 must be
The table below summarizes filing requirements for completed when making a claim regarding one residential
various types of claims relating to condo valuation. or commercial unit (or two units operated as a single unit),

Applicant Claim Required Forms if the claim is independent of the valuation of the
Condo Board All claims TC109, TC203 condominium as a whole.

Coop-owned Part 8: Construction or major alteration. Construction
condo unit (cond- All claims TC109, TC203 or major alteration includes any work that (a) increases the
op) enclosed floor area or cubic content of a building, (b)
Class 2 or 4 Claim renovates a substantially vacant building (c) converts the
owner-occupied relating to TC109 use of one or more floors, such as from office to residential
condo unit unit only use, (d) completes renovation, or tenant installations
Class 2 or 4 Claim affecting at least 25% of a building’s area, (e) installs or
owner-occupied relating to TC109 replaces HVAC, elevators, electric wiring or plumbing, (f)
condo unit entire condo replaces at least one of the exterior faces of the building,
Class 2, one or or (g) costs or is expected to cost an amount that equals
Claim
more income- TC109, TC201 or or exceeds the tentative total actual assessment under
relating to
producing condo copies of leases review.
units only
units
Demolition. Demolition is any work involving the
Class 2, one or
Claim dismantling, razing or removal of all of a building or
more income- TC109, TC201 or
relating to structure, or the dismantling, razing or removal of
producing condo copies of leases
entire condo structural members, floors, interior bearing walls, and/or
units
exterior walls or portions thereof.
Class 4, one or
TC109, TC201,
more income-
All claims TC208 or TC214,
producing condo
as applicable
units
Class 1 condo
All claims TC108
unit(s)
Specific line-by-line instructions.
If you are representing yourself and are filing for a single

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TAX COMMISSION OF THE CITY OF NEW YORK
TC109INS
1 Centre Street, Room 2400, New York, NY 10007 SUPPLEMENTAL
2023/24

APPLICATION ON FORM TC109 FOR 2023/24
SUPPLEMENTAL INSTRUCTIONS FOR CLASS 2 OR 4 CONDOMINIUM
UNIT OWNERS REPRESENTING THEMSELVES
FEE FOR CERTAIN PROPERTIES income the property generates or could reasonably
A $175 fee is required for all applications where the generate on the open market. Therefore, we do not rely
assessed value on the notice of property value for on sales prices for condominium units to establish their
2023/24 is $2 million or more. If multiple value for assessment purposes.
condominium units file on a single application, the
fee will apply if the aggregate assessed value is $2 To calculate the value for assessment purposes, an
million or more. No fee is due if the applicant or estimate of the net income of the whole building is
representative waives review of the application divided by the appropriate rate of return demanded by
before it is scheduled for review. If any fee is the market, according to the formula of “Yearly income
unpaid, review of your application may be denied minus operating expenses divided by Rate of Return =
and any offer of correction revoked. The fee will be Value”. When the Tax Commission reviews your
included on the Real Property Tax bill. DO NOT PAY application, we determine whether the entire building’s
THE FEE WITH THIS APPLICATION. value is less than the value indicated by the total
assessed value of the building. A review of your unit’s
Understanding your assessment. The Finance assessed value may also consider specific factors
Department is in the best position to explain your affecting your unit’s value, such as differences in size,
assessment and to consider the circumstances both of location or amenities.
your property and those of your neighbors for the
following year. Information about assessments is Evidence of total rental income and expenses for
available on the Finance Department website at comparable rental buildings is necessary to
https://www1.nyc.gov/site/finance/taxes/property.page. establish value. You must submit proof of the market
rental value of your unit as of January 5, 2023 using
The criteria for granting a reduction in the income and expenses of comparable rental buildings.
assessment. The law governing the assessment of Those rental buildings should be comparable to yours in
condominiums requires that they be valued as if the age, number and mix of apartments, number of floors,
whole building were operated as rental property. This is and location.
not a simple task. It is preferable for the board of
managers to apply to correct the assessment of the Unit specific claims. If you claim that the assessment
entire condominium, but you may apply for your own unit of your unit is substantially out of line with most other
by the filing deadline regardless of whether the board units in your building because of the percentage of
has applied. If both you and the board apply, you and common interest assigned to your unit by the
your board will receive a notice that one of the condominium declaration or the Finance Department
applications must be withdrawn. Otherwise neither allocation of value, provide a copy of the relevant
application will be reviewed. Check with your board portions of the condominium declaration, including any
before the filing deadline. amendments, describing the property, including your
unit. In addition to evidence of rental value of your
You have the burden of showing that the assessed value building and/or unit, the declaration may support your
of your unit is too high. You cannot prove that you are claim. However, the Tax Commission cannot direct the
entitled to a reduction in the assessed value of your unit Finance Department to change its allocation formula.
by showing that assessments of other units in your We only can review and adjust the assessment for the
building are lower or that your neighbors’ units are year covered by your application.
assessed at a lower percentage of the Finance Dept.’s
estimated market value than yours is. We cannot Unit owners who rent their unit must provide
change the Finance Dept.’s estimated market value; we documentary proof of rent income, such as the signed
review only the assessed value. lease and a copy of a rent check. Owners who rent three
or more units may file Form TC201 instead of providing
Income method of valuation. To prove your claim, it is leases.
important to understand the income method of valuation
as it applies to your property. Under the law, Potential sources of information. The Tax
condominium units in class two and four must be valued Commission cannot advise you as to where to get rental
using the income method as if they were rental property. information or advice or representation. You may
The income method of valuation is based on the rental choose to consult a local real estate broker, appraiser,

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property tax advisor or attorney for information. You may       Evaluate your claim.  Look at your Notice of Property 
look at commercial real estate websites  such as                Value from  the Finance Department and use the 
streeteasy.com, trulia.com or zillow.com for comparable         worksheet below to see if you should file an application 
rents.  There are also commercial services  that obtain         with the Tax Commission. 
income and expense data from the Finance Department.    
                                                           
         WORKSHEET FOR CONDOMINIUM UNIT VALUATION FOR ASSESSMENT PURPOSES  
                                                            
Look at your Notice of Value from the Finance Department.  Find the “tentative assessment” and “estimated market 
value” and write them on Lines 1 and 2 below. 

1.  Tentative 2023/24 Assessment:                                               ____________________ 
2.  Estimated market value:                                                     _____________________ 
 
You must prove that your unit’s value for assessment purposes is less than line 2 
to get a reduction in the assessment.  Complete Lines 3 through 8 to calculate the 
approximate value of your unit for assessment purposes.  
 
3.  The amount of rent you earn or would earn from a tenant 
on the open market each month:                                                  ____________________ 
 
4.  Monthly common charges  
(do not include interest, depreciation or real estate taxes):                        ____________________ 
5.  Net monthly income (Line 3 minus Line 4):                                   ____________________ 
6.  Net annual income - Multiply Line 5 by 12 (months in a year):               ____________________ 
7.  Divide Line 6 by .14297* = the approximate market value of your unit 
for assessment purposes                                                         ____________________ 
          
8.  Compare the amount on Line 2 with the amount on Line 7 
If Line 7 is more than Line 2, an application would not be productive. 
If Line 7 is less than Line 2 go to the next step. 
 
9. Multiply Line 7 by 45% (.45)**:                                              ____________________ 
The amount on line 9 is what you claim the assessed value of your property should be.  Enter this amount on line c of 
part 6 of TC109 under “units covered by application”. 
  
 * This amount reflects a reasonable rate of return plus a factor for real estate taxes on class 2 properties. 
  
 ** The assessment ratio for class 2 and 4 properties is 45%, meaning that the assessed value is 45% of Finance’s estimated 
    market value.   

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TAX COMMISSION OF THE CITY OF NEW YORK  High Value

1 Centre Street, Room 2400, New York, NY 10007 Copy
TC109
APPLICATION FOR CORRECTION OF ASSESSED VALUE 2023/24

OF TAX CLASS TWO OR FOUR CONDOMINIUM PROPERTY
READ TC600 AND THE SEPARATE INSTRUCTIONS (TC109INS) BEFORE YOU BEGIN. COMPLETE ALL PARTS OF THE FORM.

Answer ALL questions marked .
IF FILED AFTER MARCH 1, APPLICANT CLAIMS ELIGIBILITY FOR REVIEW BECAUSE FILING IS WITHIN 20 CALENDAR DAYS OF:  APPORTIONMENT NOTICE. NOTICE
OF INCREASE BY THE DEPARTMENT OF FINANCE. YOU MUST ATTACH A COPY OF THE NOTICE.
1. PROPERTY IDENTIFICATION - Describe covered lots accurately. Lots cannot be added later. 2023/24 YEAR 9
BOROUGH (Bronx, Brooklyn, Manhattan, Queens or Staten Island) BLOCK LOW LOT COVERED HIGH LOT COVERED ASSESSMENT YEAR
2023/24
FULL ADDRESS OF PROPERTY (WITH ZIP CODE)

NAME OF CONDOMINIUM CONDOMINIUM NO.

This application covers: 1.  A single lot only. 2.  The entire condominium. 3. All of the lots within a single range of lots. _____________ BOROUGH
4.  All of the lots within two or more ranges of lots; list ranges in numerical order across the page. 5. Additional ranges listed on pages ____
From lot To lot From lot To lot From lot To lot From lot To lot
1____________-__________ 2_____________-__________ 3____________-__________ 4____________-__________

5____________-__________ 6_____________-__________ 7____________-__________ 8____________-__________

9____________-__________ 10_____________-__________ 11____________-__________ 12____________-__________
2. APPLICANT - Complete Section A for application filed by board of managers or Section B for all other
applicants. An agent cannot be the applicant in Section B. _________ BLOCK
A. Board of managers designated as agent for owners of covered lots for purposes of contesting the assessment.
Type of designation:  A by-law  Individual authorizations.
 If designated by individual authorizations, does the board hold a valid, signed authorization for each owner of covered lots? _______ (Y/N)
 Have any unit owners requested that the board not file for their units? ________(Y/N). If yes, how many? _______

_______ LOT
B. Name of Applicant: ___________________________________________________________________________________________________
Relation to Units: Check only one:  Owner of one or more units.  Cooperative apartment corp. (file TC203). Other: _____________________
 Describe location of unit(s) in building (floor(s)) ___________________________________
 List any owner occupied units: ________________________________________ GROUP #
 Describe use(s) of units (e.g. residential, office, retail): ________________________________________________________________________
 Approximate floor area of commercial space__________________ sq.ft., of which ground fl. __________sq.ft, basement ____________sq.ft.
 If any of the units are rented or offered for rent, file TC201, 203, 208 or 214 as appropriate, or, if filing only for one or two residential units, list _________
gross rent received in 2022 $_____________ and attach copies of leases or other documentation. See TC109INS Supplemental.
FOR SECTION B APPLICANTS: IF YOU ARE MAKING A CLAIM SPECIFIC TO ONE OR TWO RESIDENTIAL UNITS AND UNRELATED TO
THE VALUE OF THE CONDO AS A WHOLE, YOU MUST COMPLETE PART 7. SEE INSTRUCTIONS.
If filed after March 1, applicant claims eligibility for review because filing is within 20 calendar days of: TC109
 Apportionment notice.  Notice of increase by the Department of Finance. You must attach a copy of the notice.
3. REPRESENTATION - Complete this section even if you will represent yourself.

PHONE NO. (___________) ______________-----______________ FAX NO. (____________) ______________-----_______________
NAME OF INDIVIDUAL OR FIRM TO BE CONTACTED GROUP #, IF ANY

MAILING ADDRESS EMAIL ADDRESS

The person listed is:  Applicant Attorney  Employee or officer of owner entity named in 2B Otherrepresentative
4. ATTACHMENTS - List all schedules and documents attached. Number the pages.
If the applicant is the board of managers of the condominium or a cooperative apartment corporation, submit
Form TC203. See instructions for Form TC109 as to necessary income schedules and attachments.

5. HEARING REQUEST - Check only one box.
 Review on papers submitted without a personal hearing  Personal hearing in Manhattan

Hearings for class two and four condominiums are held in the Tax Commission’s Manhattan office only. DATE RECEIVED

Signer’s initials _______ You must initial this page if you do not use a two-sided application form.

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6. CLAIMS OF UNEQUAL OR EXCESSIVE ASSESSMENT
Applicant objects to the assessment on the grounds that it is (a) unequal or (b) excessive because the assessment exceeds the full value of the property or
statutory limits on increases, as follows: Condominium as a whole Units covered by application
a. Tentative actual assessment a. $____________________ a. $____________________
b. Applicant's estimate of market value b. $____________________ b. $____________________
c. Requested assessment = line b x 45% assessment ratio c. $____________________ c. $____________________
d. Number of tax lots d. ____________________ d. ____________________
The applicant reserves the right to allege an assessment ratio lower than 45% and seek a lower assessment in a proceeding for judicial review.
Do not use this form to claim unlawful assessment, misclassification, or full or partial exemption; use Form TC106 with TC200.
7. RESIDENTIAL CONDO UNIT DESCRIPTION as of January 5, 2023. Complete this Part AND Part 8 if you are making a
claim specific to one or two residential unit(s) apart from the value of the whole condo. Attach or submit at the hearing
evidence of the value of the unit(s)using the income method of valuation explained in TC600 and TC109INS Supp. It is
not necessary to complete Part 9 if you are making a claim specific to one or two residential units.
PERCENT OF COMMON INTEREST YEAR AND NATURE OF LAST PHYSICAL CHANGE OR MAJOR ALTERATION

RESIDENTIAL SQUARE FOOTAGE PATIO/TERRACE/BALCONY/ OTHER SPECIAL FEATURES NUMBER OF BEDROOMS IF APPLICABLE NO. OF PARKING SPACES ASSIGNED TO YOUR UNIT
Indoor: _______ Outdoor: ________
8. PROPERTY DESCRIPTION - Describe the units covered by this application only.
NUMBER OF BUILDINGS NUMBER OF STORIES ABOVE GRADE YEAR OF CONSTRUCTION

USES (residential, office, retail, hotel, loft, factory, warehouse, storage, garage, theater, etc.): Lot Numbers .
FLOORS 3 ___ - _________________________________________________________________________________________ _________________________________________

SECOND FLOOR _________________________________________________________________________________________ _________________________________________

FIRST FLOOR
BASEMENTS _________________________________________________________________________________________ _________________________________________
OUTDOOR SPACE ( e.g. cell tower/telecom equipment, signage, generators) ____________________________________ _________________________________________
 After January 5, 2021, has there been any construction, demolition or major alteration work or have plans for demolition been filed with the Buildings Dept.?
 Yes  No. If YES, submit Form TC200.
9. APPROXIMATE GROSS FLOOR AREA AS OF JANUARY 5, 2023. Describe the entire condominium.
Floor All uses (above grade) Retail Garage Offices
FLOOR 3 - _____ sq.ft. sq.ft. sq.ft. sq.ft.
SECOND FLOOR sq.ft. sq.ft. sq.ft. sq.ft.
FIRST FLOOR sq.ft. sq.ft. sq.ft. sq.ft.
BASEMENTS sq.ft. sq.ft. sq.ft.
TOTAL AREA sq.ft. sq.ft. sq.ft. sq.ft.
 Is any part of the condominium used for vehicle parking? (Y/N) _____ If yes, number of: indoor spaces ________; outdoor spaces ________.
 Is any part of the condominium used for other nonresidential purposes? (Y/N) ______ If yes, number of retail units ______ number of office units _______.
SIGNATURE AND OATH
This application must be signed by an individual having personal knowledge of the facts who is the Applicant, a fiduciary, an agent, or an officer of a corporation, a
general partner of a partnership or a member or manager of a limited liability company (LLC), which legal entity either is the Applicant or a general partner or
member or manager of the Applicant. See instructions. NOTE: Forms TC200, TC244 and/or a Power of Attorney may be required. If required and not attached
to this application, it will be dismissed.
Signer is (check one of boxes i-vii below): If box (v) or (vi) is checked, Mark application “Special Counsel Review” on the top of page 1.
i . The Applicant named in Part 2. (check this box only if the Applicant is an individual)
ii. Officer of corporate Applicant, or Board of Managers, named in Part 2. Signer’s Title __________________________________________
iii. General partner of partnership Applicant named in Part 2.
iv. Member or manager of, or individual officer of, LLC Applicant named in Part 2. Signer’s Title ________________________________
v.  An attorney, employee, property manager or other agent for Applicant named in Part 2 TC244 and a notarized power of attorney must be attached.
vi.  Fiduciary. Specify fiduciary’s relationship to Applicant __________________________ Form TC200 may be required. See TC200INS (instructions).
If signing as fiduciary for a corporation, partnership or LLC, enter name of entity: _______________________________________________
vii. An officer, general partner, or member or manager of an entity that is the general partner, member or manager of the Applicant.
Enter name of entity, relationship to Applicant and signer’s title: Name of entity ___________________________________________________________
Relationship to Applicant _________________________________________________ Signer’s Title __________________________________________
OATH 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 any 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.
PRINT CLEARLY NAME OF PERSON SIGNING _______________________________________________________
Signed: ___________________________________________________________Date _____________________
The signer must appear and acknowledge the signature before a notary.

Sworn to before me (signature of notary): _________________________________________________________ NOTARY STAMP
County __________________________ State ___________________________ Date _________________

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