Department of Finance

Co-op, condo owners have one month before city can take away tax abatement
News Melissa Chan 3/14/2013 at 5:04PM

Some co-op and condo owners have one month to prove their residency before the city takes away their tax abatement benefits. According to co-op leaders, a large number of residents have received a notice in the mail from the city’s Department of Finance (DOF) stating they have until April 1 to verify their apartment unit [...]

Co-op tax relief bill passed by Legislature
News Melissa Chan 1/29/2013 at 1:04PM

The State Legislature has passed a long-awaited tax relief bill for city co-op and condo owners, despite a cluster of lawmakers who voted against it. The bill, approved by the State Senate and Assembly, includes raising a partial tax abatement from 17.5 percent to 25 percent and extending the J-51 program to June 30, 2015. [...]

Legislature leaves co-op, condo owners in the lurch
News Melissa Chan 11/29/2012 at 2:00PM

City co-op and condo owners may have to ante up more in taxes after lawmakers said the state Legislature may not reconvene this year to pass promised relief. “We had hoped the Legislature would meet and pass the annual abatement. It looks like we’re not going back,” said State Senator Tony Avella. “It’s going to [...]

City boot program hits south Queens
City boot program hits south Queens
News Philip Hertling 8/08/2012 at 8:09AM

The Smart Boot program, which locks up the cars of ticket scofflaws, hit southern Queens last Monday after being launched in Brooklyn six weeks ago. Paylock, a parking enforcement company, has city authorization to place a yellow wheel lock on the cars of parking/traffic violators with more than $350 in unpaid fines. The no-bid pilot [...]

Altruistic author helps Queens woman in need
Altruistic author helps Queens woman in need
News Melissa Chan 7/11/2012 at 1:12PM

An 89-year-old Fresh Meadows woman who lost hope in the city regained an ounce of optimism when a big-hearted benefactor — and a total stranger — mailed her a check for $1,000. “It feels unbelievable. It feels like a dream come true,” said Anna Gallotta. Gallotta is currently seeking remediation from the city after she [...]

Fresh Meadows woman wants repairs remediated
Fresh Meadows woman wants repairs remediated
News Melissa Chan 6/29/2012 at 8:12AM

An 89-year-old Fresh Meadows woman is seeking remediation from the city after she was billed more than $2,000 for sidewalk repairs she was told she would not have to pay for. “I save penny by penny. That was money that I was saving all year long,” said Anna Gallotta, who has lived in her 198th [...]

Delinquent property owners exploiting lien loopholes
News Melissa Chan 6/14/2012 at 12:00PM

A local legislator lambasted the city’s Department of Finance (DOF) for letting delinquent property owners exploit lien loopholes and flout payments, cheating the city out of thousands of dollars. According to State Senator Tony Avella, indebted property owners can be removed from the annual tax lien sale — the city’s list of properties with unpaid [...]

Audit finds co-op, condo property values inflated
Audit finds co-op, condo property values inflated
News Melissa Chan 4/17/2012 at 4:07PM

A series of missteps by the Department of Finance (DOF) caused drastic upward swings in co-op and condo property taxes, according to two audits released by the city’s comptroller office. “The department failed to adequately explain significant changes it was making in the calculation of market values. What’s more, in numerous cases, they assigned arbitrary [...]

Relief proposed for co-op owners
News Melissa Chan 3/13/2012 at 12:27PM

New legislation may lighten the load on co-op owners, while leaving their wallets heavy. According to Senator Toby Ann Stavisky and Assemblymember Ed Braunstein, property owners can currently fight city tax assessments through a “certiorari” process, but they said it is often costly and incurs “excessive legal fees.” “As a co-op shareholder, I understand this [...]

Pols against property tax hikes
News Steve Mosco 1/25/2012 at 12:49PM

When the taxman calls, you’d better answer. And city elected officials are answering to the latest property tax assessments by the Department of Finance (DOF) — assessments which call for hikes among residential houses, co-ops and businesses. “These latest assessments are a red flag for businesses and residential property owners alike that the administration of [...]