Nassau County Commercial Real Property Tax Alert

March 08, 2022

Annual Survey of Income and Expenses – ASIE-2021
Pursuant to the Nassau County Administrative Code, Section 6-30, the Nassau County Department of Assessment (“the Assessor”) is requiring the submission of 2021 financial data on a form known as “ASIE-2021”.  Below, we have highlighted key issues and have attempted to anticipate common questions.

New Deadline – April 1, 2022
Nassau Code Section 6-30 provides that your ASIE 2021 must be completed online no later than April 1, 2022.  However, per the Assessor’s website, “Based on the current federal and state tax filing deadlines, the Department of Assessment will accept ASIE 2021 filings through June 1, 2022”.

Electronic Filing Required
The County is requiring electronic (online) filing of the ASIE-2021.

How Do I File Electronically?
Go to https://www.nassaucountyny.gov/ASIE2021.
ASIE questions or filing problems may be addressed at 516-571-0996 or ASIE2021@nassaucountyny.gov

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 in writing no later than March 1, 2022.  Your written request can be mailed to:

Nassau County Department of Assessment
Attn: ASIE Waiver
240 Old Country Road, 4^th Floor
Mineola, NY 11510

As with any mailing to the County, please retain a copy and obtain proof of mailing.

Can I Have More Time to File?
Per the Assessor, requests to be allowed to file after the April 1, 2022 deadline must be submitted to the Department of Assessment and based upon “good cause”.  Follow the County’s online instructions for an extension.

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 must still file online.  Just check the owner-occupied box, 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?
2021 financial data must be provided.

Who Completes This Filing?
The property owner must complete the ASIE-2021.  We are not permitted to certify the forms on your behalf.

Is There a Penalty for Not Filing?  Yes . . . But See Court Challenge Below
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, 2022, 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
Challenges to the imposition of penalties are still pending in Court.  Recently, the New York State Appellate Division sent back one of the cases to the lower court for further deliberations. To be safe, we 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 1, 2022.

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 Mike Guerriero or Will Meyer.

 

Arthur K. Feldman, Partner – (516) 227-0707 – afeldman@farrellfritz.com
Michael P. Guerriero, Partner – (516) 227-0709 – mguerriero@farrellfritz.com
Willets S. Meyer, Partner – (516) 227-0678 – wmeyer@farrellfritz.com