08/31/2020 Assessment Community Weekly

We wish you and yours a happy Labor Day weekend celebration!

Last call! Review your Sales Reports

We’ve extended the deadline to review your Sales Reports to Friday, September 4.

For more information about reviewing the reports, see Sales usability criteria.

On the arms-length report, there is a column which indicates whether the sale is COD/RAR usable. If you find a mistake or need to correct a sale, follow these instructions:

• RPS users: within your RPS file, make the correction and then re-transmit it by going to Standard Reports > Sales > Sales Transmittal Report. Please email the RPS035 to ORPTS.saleint@tax.ny.gov. The ORPTS sales database and online sales reports will be updated with the corrections.
• If you submit paper reports, use Form RP-5217 ACR, Sale Correction Form. Email the completed forms to ORPTS.saleint@tax.ny.gov or mail them to:

  NYS TAX DEPARTMENT – ORPTS
  ATTN:  DATA MANAGEMENT UNIT
  W A HARRIMAN STATE CAMPUS – BLDG. 8A
  ALBANY, NY 12227-0801

New legal Q and A’s

We’ve added three new q and a’s to our website on the following topics:

• Are stimulus checks income for purposes of the 467 exemption?
• How does an amended tax return impact income eligibility for 467?
• For purposes of the 459-c exemption, does a short-term capital loss carryover reduce the amount of capital gains?

For the full scenarios and our non-binding legal response, see Legal Property Tax Questions – Asked and Answered.

In addition, we’ve updated the discussion regarding solar energy systems to reflect the recent court decision in Matter of Cornell Univ. v Board of Assessment Review as it relates to whether such systems may be treated as real property, and if so, whether they may be eligible for exemption under RPTL 420-a.