Real Property Income and Expense (RPIE)

If you own a property that makes money and has an actual assessed value of more than $40,000, you need to file a Real Property Income and Expense (RPIE) statement every year. Some properties do not have to do this by law.

We use the information you give us to estimate your property's market value for tax purposes. You must file your RPIE statements online. For more details, download the RPIE-2012 Worksheet and Instructions.

Even if you do not have to file an RPIE, you can still send information about your property using the online RPIE-B form. This helps us estimate your property's market value better.

There are new rules that let you file one RPIE for two or more properties if they meet certain requirements. You can find more information in the RPIE-2012 Worksheet and Instructions.

• Own a property that makes money and has an assessed value of at least $40,000.
• If your property has an assessed value of $750,000 or more, you must send the current list of tenants each year. Send this list online using the RPIE form.
• Know how your property is used; for example, if you own an apartment building, know the total number of units, the number of parking spaces (if any) and tenant lease information.

• Fix or change your RPIE form: Log in with your property info.
• Need help? Call 311 or contact the Department of Finance. Include your name and phone number in all emails.

Properties That Must File

These types of properties usually need to file an RPIE form:

• Hotels and motels
• Parking garages and lots: Open to the public
• Department stores: With 10,000 or more square feet
• Power plants: That sell electricity
• Theaters and cinemas

Rental Properties

• Properties, other than cooperative, where tenants pay rent. This includes rental apartment buildings and commercial properties with tenants.

Cooperatives

• Properties owned by a corporation. Shareholders can live in an apartment or space in a building with over 2,500 square feet of commercial space (not including garages).

Condominiums

• Multi-unit properties with units owned by individuals. Owners of income-producing commercial condo buildings or rented commercial/professional space in residential condo buildings must file. Owners of residential condo buildings must file if 50 percent or more of the space is rented.

Net-Leased Properties

• Entire properties leased by the owner to someone who pays the taxes and operating costs.

• Go to the "File a RPIE Online" page under additional resources.
• Enter the Borough, Block and Lot information for the property.
• Create a password for the property. Use this password to return and change or complete an RPIE for this property.
• Enter the requested information on each screen.
• At the end, submit the application electronically. Print the RPIE for your records.