Commercial Property Appeals and Income & Expense

Complaints on assessment (grievances) for commercial properties are subject to the town's Local Law No. 1 of the year 2013, entitled “Income and Expense Statements.”  Accordingly, the petitioner (or petitioner's representative) is required to submit to the Assessor’s Office (not later than seven (7) days after filing a grievance) copies of the most recent income and expense statements as per the terms and conditions outlined in the attached Local Law.  

For example, 2021 complaints on assessment annual income and expenses for calendar year 2020 are required.

It is EXTREMELY IMPORTANT to note that in the event that an income and expense statement is not filed a penalty of three percent (3%) of the assessed value will be levied against the property.  

It is mandatory that the submission of the income and expense statements be filed (see link below). Whenever possible, the Town's income and expense report should be supplemented by profit and loss statements and/or audited financial statements prepared by an accountant, completed, signed, and dated, regardless.

The submission of the Income & Expense form(s) with attachments such as tax returns, profit and loss, rent rolls, correspondence, photos, authorizations, etc. can be emailed in pdf format to grievance@ryetownny.gov, mailed to 222 Grace Church St., Ste 303, Port Chester, NY 10573.

NOTE:  The information filed and furnished will remain confidential and not open to public inspection (NYS Office of Real Property Services Opinion of Counsel SBRPS No. 10-17).

Representatives and Attorneys filing multiple grievances must complete a log of all submissions (click here).

‍Related Links

• Town of Rye 2013 Income and expense Law
• Income & Expense Data Worksheet (pdf)
• NYS Opinion of Council 10-17 (regarding confidentiality of income and expenses)