The deadline for local non-profits to renew their tax exempt status for the upcoming tax year is in less than two weeks, a Brooklyn lawmaker is warning.
Councilman David Greenfield is reminding nonprofits including yeshivos and shuls that to avoid being issued tax bills in 2018 they must file for an exemption by Wednesday, Dec. 27.
“Tax law is difficult, especially for small charities and non-profits,” said Greenfield. “But this part is simple: Every non-profit that owns property needs to renew their text exempt status, and they need to do it as soon as possible.”
Part of the confusion is due to a recent change in policy. At one time, city law allowed for uninterrupted tax-exempt status. In past years, Greenfield said, he has worked with nonprofits that missed the tax exemption deadline. But it can be a time-consuming process that may end up costing thousands of dollars in late fees.
Any organization with questions could log onto the Department of Finance’s website or contact Greenfield’s office.