The Cohen Law Office

THE COHEN LAW OFFICE, PC

TEL: 212-537-6860

FAX: 212-537-6861

The Cohen Law Office, PC is a tax certiorari law firm which concentrates in challenging / appealing Real Estate property tax assessments and obtaining reductions in real estate taxes. Its founder, Aaron Cohen is a NYC Tax Certiorari attorney / lawyer who focuses his practice almost exclusively on fighting NYC property taxes / tax assessments in and around the five boroughs of New York City.

The Cohen Law Office, PC is instrumental in obtaining significant property tax reductions for apartment buildings, commercial, industrial and retail properties throughout the five boroughs of New York City, and beyond. Our fee on all tax protests / tax certiorari matters are contingent upon obtaining reductions in property tax assessments.

As a NYC based Tax Certiorari law firm, we challenge real estate tax assessments with the goal of winning tax reductions for our commercial clients. For property owners of New York City, it's important to choose a NYC tax certiorari lawyer / law firm whose practice deals primarily with properties in New York City. We take the time to examine every aspect of a property's taxation in order to attain the best chance at success, and keep you updated throughout the entire process.

Reluctance to protesting NYC Tax Assessments are sometimes unwarranted

There are some property owners who are hesitant to protest their assessment because they feel their property is in fact much more valuable than the "market value" assigned by the New York City Department of Finance. While this may or may not be true, since the NYC Department of Finance (NYC DOF) has unique ways of valuing and assessing properties, what a property could sell for on the open market, or what a similar neighboring property recently sold for, is often legally irrelevant in determining the correct assessment.

NYC Department of Finance Methods of Valuation

In order to determine the value of a property, the Department of Finance uses various factors but typically relies on what is known as the "income capitalization" approach. In other words, the department looks at the rental income and expenses for a building to determine the net operating income, and applies a certain capitalization rate to that to arrive at the value. For Co-op or condo buildings, the Department of Finance is required, by statute, to evaluate co-ops and condos as if they were rental buildings. The department first estimates the rent that could be charged for each unit as if it were a rental giving the department an estimated income. Then, the department reviews the expense reports - minus depreciation and mortgage interest - and determines the

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