NYC RPIE Filing: Who Must File, Deadlines and Penalties
NYC owners of income-producing property assessed above $40,000 must file an RPIE each year. Who files, the June deadline, penalties and exclusions.
By Seayora Editorial Team · Published · Facts checked · 3 min read
Short answer: Owners of income-producing property in New York City with an actual assessed value above $40,000 must file a Real Property Income and Expense (RPIE) statement with the Department of Finance every year, or a claim of exclusion if an exclusion applies. RPIE-2025, covering calendar 2025 for most filers, was due June 1, 2026. Missing it can bring a penalty of up to $100,000, depending on assessed value, and can cost the owner the right to a Tax Commission hearing.
Key takeaways
- Administrative Code § 11-208.1 requires an RPIE from owners of income-producing property with an actual assessed value above $40,000.
- RPIE-2025 was due June 1, 2026; properties assessed at $250,000 or less, other than hotels, may use a short form.
- A late filer gets a Non-Compliance Notice and a 30-day cure period before a penalty is imposed.
- Failing to file for three consecutive years can cost 5% of the property’s final actual assessed value.
Who must file an RPIE?
Section 11-208.1 of the Administrative Code requires owners of income-producing real property, and of utility property, with an actual assessed value of more than $40,000 to file an annual Real Property Income and Expense statement, electronically unless a waiver was granted (DOF RPIE penalty information). The Department of Finance uses the statements to estimate market values for property tax. An owner whose property qualifies for an exclusion files a claim of exclusion instead; a new owner who has not operated the property and has no income and expense information for the period also files a claim of exclusion (RPIE FAQ).
When is the RPIE due?
The deadline is set each year. RPIE-2025, which covers January 1 to December 31, 2025 for most filers, or the last fiscal year ending by May 1, 2026, was due June 1, 2026. Owners whose property’s actual assessed value on the 2026/27 tentative roll was $250,000 or less, and which is not a hotel, could use the shorter RPIE form. Check the Department of Finance RPIE page for the current year’s date.
Who can file it?
- The owner, the owner’s representative, a lessee or a lessee’s representative.
- One co-owner, if the information covers the whole property or lot.
- An officer, general partner or LLC manager or member for an entity owner.
- A managing agent, accountant or attorney, who must disclose the owner’s name and know the facts.
Two or more properties can be filed together when they operate as a single economic unit, are in the same borough, share ownership and tax class, are all hotels if one is, and sit on contiguous lots.
What are the penalties for not filing?
A required filer who misses the deadline is sent a Non-Compliance Notice and has 30 more days, the cure period, to file without a penalty. First-time required filers are not penalized. After the cure period, the Department of Finance’s penalty schedule is:
| Final actual assessed value | Penalty |
|---|---|
| $40,001 to $99,999 | $300 |
| $100,000 to $249,999 | $750 |
| $250,000 to $499,999 | $1,500 |
| $500,000 to $999,999 | $3,000 |
| $1,000,000 to $4,999,999 | $5,000 |
| $5,000,000 to $9,999,999 | $20,000 |
| $10,000,000 to $14,999,999 | $40,000 |
| $15,000,000 to $24,999,999 | $60,000 |
| $25,000,000 and more | $100,000 |
An owner who fails to file for three consecutive years may be charged 5% of the property’s final actual assessed value, and an owner required to file a claim of exclusion who does not file it within 30 days of a reminder is charged $100. An owner can petition to challenge a proposed penalty during the cure period.
Why does the RPIE matter for an assessment appeal?
By law the NYC Tax Commission can deny a hearing for any property that did not file its RPIE by the deadline, so a late RPIE can cost an owner the chance to reduce next year’s assessment (RPIE FAQ). See NYC property tax classes and rates for the appeal deadlines.
Frequently asked questions
Who has to file an RPIE in New York City?
Owners of income-producing property, and utility property, with an actual assessed value above $40,000. Owners who qualify for an exclusion file a claim of exclusion instead.
What happens if I file my RPIE late?
You are sent a Non-Compliance Notice with a 30-day cure period. If you still do not file, a penalty based on the property’s assessed value applies, from $300 to $100,000, and the Tax Commission can deny a hearing on your assessment.
When was RPIE-2025 due?
June 1, 2026. The deadline is set each year, so check the Department of Finance’s RPIE page for the current one.
Sources
- RPIE penalty information, NYC Department of Finance
- RPIE frequently asked questions (RPIE-2025), NYC Department of Finance
- Real Property Income and Expense (RPIE), NYC Department of Finance
How Seayora helps
Property management accounting: Produce each building’s income and expense figures for the year straight from the books.
This article is general information, not tax advice. Tax rules change and your situation is your own, so confirm the treatment with a CPA or enrolled agent before you file.
How we write and check these guides: editorial standards.
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