Councilman David Greenfield is reminding local non-profits such as yeshivos that the filing deadline to renew their tax exempt status with the New York City Department of Finance is at the end of January.
The city now requires non-profits to file annually or they will be changed property taxes, starting July 2015. This has caused much confusion for institutions that previously had enjoyed uninterrupted tax-exempt status for years after the initial filing. The deadline for the upcoming 2015/2016 tax year was Monday, Greenfield says, but he was assured by the city that they will offer an extension until the end of the month.
“If you miss the deadline it is a very difficult and timely process to try and convince the city that you are eligible,” Greenfield said in a press release. “In some cases, non-profits have faced tens of thousands of dollars in unnecessary fees.”
Any organization with questions about this process may contact Greenfield’s office at firstname.lastname@example.org, or (718) 853 2704.