Form RP-485-V Application for Residential and Mixed-Use Investment Real Property Tax Exemption: Certain Cities and School Districts - New York

What Is Form RP-485-V?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is form RP-485-V?
A: Form RP-485-V is the Application for Residential and Mixed-Use Investment Real Property Tax Exemption for certain cities and school districts in New York.

Q: What is the purpose of form RP-485-V?
A: The purpose of form RP-485-V is to apply for a tax exemption on residential and mixed-use investment properties in certain cities and school districts in New York.

Q: Who can use form RP-485-V?
A: Property owners who own residential and mixed-use investment properties in certain specified cities and school districts in New York can use form RP-485-V.

Q: What is the benefit of the tax exemption?
A: The tax exemption reduces the property taxes for eligible residential and mixed-use investment properties in certain cities and school districts in New York.

Q: What documents are required to be submitted with form RP-485-V?
A: The required documents include proof of ownership, property description, and other supporting documentation as specified in the form instructions.

Q: What is the deadline to file form RP-485-V?
A: The deadline to file form RP-485-V is typically March 1st of the year for which the exemption is sought, but it is recommended to check with your local tax assessor's office for any specific deadlines.

Q: Is there a fee to file form RP-485-V?
A: There is no fee to file form RP-485-V.

Q: How long does it take to process form RP-485-V?
A: The processing time can vary, but it typically takes several weeks to a few months for form RP-485-V to be processed.

Q: What happens after submitting form RP-485-V?
A: After submitting form RP-485-V, the local tax assessor's office will review the application, verify the eligibility, and notify you of the approval or denial of the tax exemption.

Q: Can I appeal if my application for tax exemption is denied?
A: Yes, if your application for tax exemption is denied, you have the right to appeal the decision by following the instructions provided by the local tax assessor's office.