1. Which Properties Must File an RPIE Statement?
The NYC Department of Finance (DOF) uses Real Property Income and Expense (RPIE) statements to value income-producing properties. NYC Administrative Code §11-208.1 and 19 RCNY Chapter 33 govern these filings separately from federal and state income taxes.
Filing Thresholds and Covered Properties
Owners of income-producing properties with an actual assessed value exceeding $40,000 on the 2026–2027 tentative assessment roll generally had to file RPIE-2025 or a qualifying exclusion claim.
Covered properties include rental buildings, offices, hotels, retail spaces, and mixed-use developments. Actual assessed value differs from market value or sale price.
Utility property and equipment follow separate REUC-RPIE requirements, which owner occupancy does not eliminate.
Claims of Exclusion and Filing Exemptions
Qualifying owner-occupied properties and certain related-party rentals may require a claim of exclusion instead of an RPIE statement.
Properties generally exempt from both filings include:
- Properties assessed at $40,000 or less.
- Residential properties with ten or fewer dwelling units.
- Qualifying Class 1 or 2 properties with six or fewer dwellings and one retail store.
- Special franchise properties.
Certain hotels, parking facilities, and other business-operated properties remain reportable despite owner occupancy.
New owners lacking complete income and expense records for the reporting period may qualify for an exclusion from the statement requirement, but may still need to file a claim.
2. Annual RPIE Filing Records and Deadlines
RPIE reports property income and operating expenses, not property tax payments. Federal income tax returns cannot replace the city's reporting requirements.
Reporting Periods and Financial Records
Calendar-year filers report 2025 income and expenses. Fiscal-year filers generally use their last fiscal year ending before May 1, 2026.
Required information may include leases, rental income, vacancies, maintenance, utilities, insurance, and ownership records. Capital expenses must be distinguished from operating costs.
Smartfile, Rent Rolls, and Short-Form Reporting
RPIE-2025 was due June 1, 2026. Owners generally file through DOF's SmartFile system using NYC.ID, unless an approved electronic-filing waiver permits paper submission.
Properties assessed at $750,000 or more generally require a rent-roll addendum. If no rental tenant exists, the filer must enter "No rental tenant" in the Comments section.
Eligible properties assessed at $250,000 or less may use the short-form statement, subject to property-type restrictions. Separate Storefront Registry requirements may also apply.
3. RPIE Non-Filing Penalties and Property Liens
DOF calculates standard nonfiling penalties using final actual assessed value. These charges differ from unpaid property taxes and may become liens against the property.
Penalty Amounts and Repeated Noncompliance
The standard RPIE nonfiling penalties are:
| Final Assessed Value | Penalty |
|---|---|
| $40,001–$99,999 | $300 |
| $100,000–$249,999 | $750 |
| $250,000–$499,999 | $1,500 |
| $500,000–$999,999 | $3,000 |
| $1 million–$4,999,999 | $5,000 |
| $5 million–$9,999,999 | $20,000 |
| $10 million–$14,999,999 | $40,000 |
| $15 million–$24,999,999 | $60,000 |
| $25 million or more | $100,000 |
$40,001–$99,999
- Penalty$300
$100,000–$249,999
- Penalty$750
$250,000–$499,999
- Penalty$1,500
$500,000–$999,999
- Penalty$3,000
$1 million–$4,999,999
- Penalty$5,000
$5 million–$9,999,999
- Penalty$20,000
$10 million–$14,999,999
- Penalty$40,000
$15 million–$24,999,999
- Penalty$60,000
$25 million or more
- Penalty$100,000
Missing a required exclusion claim carries penalties of $100 for one year, $500 for two consecutive years, and $1,000 for three or more.
Three consecutive years without required RPIE statements trigger a separate penalty of 5% of final actual assessed value under 19 RCNY §33-03(a)(2).
Liens, Interest, and Innocent Purchasers
Under 19 RCNY §33-03(a)(5), an RPIE penalty becomes a property lien when DOF enters it into its records.
If unpaid for 30 days after entry, interest accrues from the entry date at the applicable delinquent property tax rate.
Under §33-03(a)(7), qualifying innocent purchasers may request a penalty waiver. The electronic request generally must be submitted within 120 days after the later of the required nonfiler-list publications or the first tax bill reflecting the penalty.
A property transfer does not automatically eliminate outstanding penalties or liens.
4. Responding to an RPIE Non-Compliance Notice
Owners should check the tax lot, reporting year, filing history, and alleged violation before responding. A missing statement, disputed exclusion, and incorrect assessment classification require different evidence.
The 30-Day Cure Period and Petition for Hearing
Under 19 RCNY §33-04, owners generally have 30 days after a Non-Compliance Notice to submit a complete filing and avoid the nonfiling penalty.
The cure provision does not eliminate penalties arising from a DOF audit finding of a substantially incomplete or inaccurate statement.
Owners contesting a notice must submit an RPIE Petition for Hearing within 30 calendar days of the notice date to:
NYC Department of Finance, RPIE Unit
66 John Street, 12th Floor
New York, NY 10038
Relevant evidence includes submission receipts, ownership documents, assessed-value records, and exclusion eligibility. Lost documents or overlooked deadlines do not automatically justify relief.
Article 78 Review and Assessment Appeals
DOF handles RPIE compliance disputes. A final administrative determination may be challenged under CPLR Article 78, generally within four months after becoming final and binding.
The NYC Tax Commission separately reviews property assessments. Failure to file RPIE on time may prevent a Tax Commission hearing the following year, and paying a penalty does not automatically restore that right.
An eligible property tax assessment challenge may proceed under RPTL Article 7 in New York State Supreme Court. For Manhattan property, venue is generally New York County.
Article 7 assessment proceedings and Article 78 penalty challenges have different purposes and deadlines.
5. Frequently Asked Questions
Can an LLC Manager or Property Agent File RPIE?
Yes. An authorized LLC manager, member, managing agent, accountant, or attorney may file for the owner.
The submission must identify the owner and representative, who must have sufficient knowledge of the information. A separate penalty hearing may require a power of attorney.
Can Multiple Properties Be Reported in One RPIE Statement?
Yes, if they operate as one economic unit, share ownership and tax classification, occupy contiguous lots, and lie within the same borough.
If one property is a hotel, the others must also be hotels. Income and expenses must be allocated under the applicable filing instructions.
6. Reviewing an RPIE Filing or Penalty Dispute
A disputed exclusion, substantial penalty, classification error, or threatened loss of Tax Commission hearing rights may require legal review. A real estate tax attorney can examine filing records, ownership history, and procedural deadlines to determine whether correction, administrative review, or judicial proceedings are available.
20 Oct, 2026
