NYC Launches Real Property Income & Expense Initiative (RPIE)

Carl J. Pucci in Finance & Reimbursement

NYSHFA attended a recent informational sharing session related to the launch of a Real Property Income & Expense (RPIE) initiative for nursing homes and adult care facilities in New York City.  The goal is to develop an income and expense approach to assess property tax valuations for various NYC specialty property types including adult care and nursing home facilities.

NYSHFA is working closely with the NYC Department of Finance in constructing the income and expense data statement (and related instructions) prior to distribution of the new RPIE form (expected in January 2016).  The deadline for filing the RPIE is June 1, 2016.

More information regarding Real Property Income & Expense (RPIE) can be found at the NYC Department of Finance link.

NYSHFA will keep members informed as to the progress of the RPIE initiative as it develops.

NYSHFA CONTACT:

Carl J. Pucci
Director, Finance & Reimbursement
518-462-4800 x36