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Legalease
Legalease, Attorney
Category: Business Law
Satisfied Customers: 16363
Experience:  14 years experience corps, LLC's and partnerships; preparation, negotiation of complex contracts and business agreements
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Are you obliged to pay property tax in NYC for an apartment

Customer Question

Are you obliged to pay property tax in NYC for an apartment you own if this is the only property you own and you live in it.

Thank you
Submitted: 4 years ago.
Category: Business Law
Expert:  Legalease replied 4 years ago.

Hello there and Happy New Year.

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I am a bit confused but if you are asking me if you must pay real estate property taxes as an individual unit owner, then the answer is "yes". The individual unit, even though it is an apartment or a condo within a larger building, is considered a separate piece of real estate for taxing purposes and that is the manner in which it is handled. I wish I could tell you something different here but I can only give you an answer based upon the current state of the law in NY (and all states on this issue). If you have further questions or you want to give me some more information that might assist in the analysis I would be happy to follow up with you on it.

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MARY

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Please press the 3rd, 4th or 5th smile face below so I will be paid for my time. I am paid NOTHING unless you press the 3rd, 4th or 5th smile face below so I really DO appreciate it! THank you very much !!

Customer: replied 4 years ago.

Hi, thank you for your reply.


 


My question is: do you have to pay property tax on the home/apt you live in (it is the only property you own)?

Expert:  Legalease replied 4 years ago.

Hello again Salah and Happy New Year

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If you are the owner of the apartment (the deed is in your name), then yes, there will be separate property taxes billed to you and you must pay them. If you are renting the unit from someone else who is the owner, then that person would pay property taxes on the apartment.

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I apologize for the delay - I was offline for the New Year holiday

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MARY

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Please press the 3rd, 4th or 5th smile face below so I will be paid for my time. I am paid NOTHING unless you press the 3rd, 4th or 5th smile face below so I really DO appreciate it! THank you very much !!

Expert:  Legalease replied 4 years ago.
Hello again Salah - Happy New Year
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Have you had the opportunity to view the answer above ? If you have reviewed it can you please press the 3rd, 4th or 5th smile face above underneath the answer box so that I will be paid for my time. If you have any questions please feel free to ask them and I will respond again on this page.
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Thanks
MARY