July 18, 2014 Property Tax Freeze Credit Guidance and Reporting Requirements
KEEPING YOU INFORMED…
In April, we prepared a memorandum outlining what you need to do to adopt a “freeze-compliant budget” and allow your eligible residents to claim the real property tax freeze credit. This week, the New York State Department of Taxation and Finance issued guidance related to this new tax credit (“the Guidance”). This memorandum addresses this issue.
THIS MEMORANDUM IS MEANT TO ASSIST IN GENERAL UNDERSTANDING OF THE CURRENT LAW. IT IS NOT TO BE REGARDED AS LEGAL ADVICE. THOSE WITH PARTICULAR QUESTIONS SHOULD SEEK THE ADVICE OF COUNSEL.
© Lamb & Barnosky, LLP 2014