Articles & Advisories

Nassau County Commercial Real Property Tax Alert

Annual Survey of Income and Expenses – ASIE-2017

Pursuant to the Nassau County Administrative Code, Section 6-30, the Nassau County Department of Assessment (“the Assessor”) is requiring the submission of 2017 financial data on a form known as “ASIE-2017”. Below, we have highlighted key issues and have attempted to anticipate common questions.

New Deadline – April 2, 2018

Your ASIE-2017 must be completed online no later than April 2, 2018.

Electronic Filing Required

This year the County is again requiring electronic (online) filing of the ASIE-2017 and is not offering a “paper” filing option.

How Do I File Electronically?

Go to ASIE questions or filing problems may be addressed at 516-571-0996 or by email to

Can I File by Paper?

Per the Assessor, “Requests to be allowed to file a paper copy of your ASIE, rather than an electronic one, must be submitted to the Department of Assessment no later than March 1, 2018. The Nassau County Assessor has sole discretion in granting said request and will only grant same for good cause shown. Any person granted a waiver and permission to file a paper copy, must do so on a County approved form. Failure to file a paper copy, where allowed, on a County approved form will result in your 2017 ASIE being deemed noncompliant.”

100% Owner-Occupied Property Must File Electronically

If you or a related entity is the sole occupant of a property that you own, you do not need to submit income and expense data, but you should still file online. Just check the owner-occupied box 11, electronically sign at the bottom, submit, and you are done.

What about Houses, Apartment Buildings, Co-ops and Class 2 Condominiums?

The law specifically excludes residential (Class 1 and 2) properties from the filing requirements.

What Information is Required?

2017 financial data must be provided.

Who Completes This Filing?

The property owner must complete the ASIE-2017. We are not permitted to sign the forms on your behalf.

What is the Penalty for Not Filing?

The law provides that failure to file by the deadline shall subject the owner to a penalty of .25% of your property’s “fair market value”. If not filed by September 30, 2018, the penalty increases to .5%. The penalty can further increase to .75%. The law provides that the penalty will be levied as a tax lien on that property.

Court Challenge Still Pending

The imposition of penalties is currently being challenged in Court, but, to be safe, we still recommend filing and maintaining records to show that you have complied with the requirements of Section 6-30.

Keep a Copy of Everything That Was Filed Electronically and Print Out the Screens That Show and Confirm What Was Filed

It is important to have a record that your submission was completed by April 2, 2018.

Keep Us in the Loop

Please be sure to send us a copy (either paper or email) of any information submitted to the Assessor. If you have questions or concerns, please do not hesitate to contact Art Feldman or Will Meyer.

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