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Assessment appeal forms are official documents used to challenge the assessed value of a property as determined by a government tax authority. When property owners believe their assessment is inaccurate — resulting in an unfair tax burden — these forms provide a structured, legal pathway to request a review. Completing them correctly is essential, as tax commissions rely on the information submitted to evaluate whether a reassessment is warranted. Errors or omissions can weaken an appeal or cause it to be dismissed outright.
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About assessment appeal forms
These forms are most commonly needed by property owners, real estate investors, and landlords who feel their property has been overvalued during an assessment cycle. For example, owners of rent-producing properties in New York City may need to file the TC201 Income and Expense Schedule alongside their main Tax Commission appeal application, providing two years of detailed financial data to support their case. The stakes are real — a successful appeal can meaningfully reduce annual property tax obligations.
Given the level of detail required, filling out assessment appeal forms carefully and accurately is critical. Tools like Instafill.ai use AI to complete these forms in under 30 seconds, reducing the risk of errors and making the process far more manageable for property owners navigating an already complex appeals process.
Forms in This Category
| Form Name | Pages | |
|---|---|---|
| 1. | TC201, Income and Expense Schedule for Rent-Producing Property | 2 |
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How to Choose the Right Form
If you've landed on this page looking for an assessment appeal form, here's what you need to know to make sure you're using the right document.
Who This Form Is For
Form TC201 (Income and Expense Schedule for Rent-Producing Property) is designed specifically for New York City property owners who earn rental income from their property and want to challenge their property's assessed value with the NYC Tax Commission.
You need TC201 if:
- Your property generates rent from residential tenants, commercial tenants, or both
- You are filing an assessment appeal for the 2026/27 tax year
- You have at least two years of income and expense data available for the property
Important: TC201 Is Not a Standalone Form
TC201 is a required schedule, not a complete appeal application on its own. It must be attached to your main NYC Tax Commission appeal application. Filing TC201 separately will render it invalid, so make sure you have your primary application ready before submitting.
What You'll Need to Complete TC201
- Residential and nonresidential occupancy details
- Lease information for your tenants
- Two full years of income and expense figures for the property
Not Sure If TC201 Applies to You?
- Owner-occupied or non-rental property? TC201 is not the right form — look for a different NYC Tax Commission schedule suited to your property type.
- Commercial-only property with no rental income? You may need a different supporting schedule for your appeal.
Filling Out TC201
TC201 requires precise financial data, and errors can affect your appeal outcome. Using an AI-powered tool like Instafill.ai can help you complete the form accurately and quickly, even if you're working from a non-fillable PDF version.
Form Comparison
| Form | Purpose | Who Files It | When to Use |
|---|---|---|---|
| TC201, Income and Expense Schedule for Rent-Producing Property | Report income and expenses to support NYC property assessment appeal | NYC property owners of rent-producing properties | Filed with 2026/27 assessment year appeal application |
Tips for assessment appeal forms
The TC201 is a schedule, not a standalone form — it must be filed together with your main Tax Commission assessment appeal application. Submitting it separately will render it invalid, potentially jeopardizing your entire appeal. Double-check that all required documents are bundled before you submit.
TC201 requires income and expense figures for two consecutive years, so pull together your rent rolls, operating statements, and expense receipts before you start filling out the form. Having everything on hand upfront prevents errors from estimating or leaving fields blank. Incomplete financial data is one of the most common reasons appeals are weakened or dismissed.
The Tax Commission uses the numbers you report on TC201 to determine whether your property's assessed value is fair, so underreporting expenses or overstating vacancies can backfire. Be precise with figures like gross rent, vacancy losses, and operating costs. When in doubt, cross-reference your figures with your tax returns or audited financials.
TC201 asks for specific lease information for both residential and nonresidential tenants, including rent amounts and lease terms. Many filers skip or generalize this section, which can raise red flags with reviewers. Review all active leases before completing this section to ensure accuracy.
AI-powered tools like Instafill.ai can fill out complex forms like TC201 quickly and accurately, saving you significant time — especially if you're managing multiple properties or appeal filings. Your data stays secure throughout the process, and the tool can even convert non-fillable PDF versions into interactive forms. For anyone dealing with detailed income and expense schedules, this is a practical way to reduce errors and avoid the frustration of manual entry.
TC201 requires you to break out income from residential units separately from commercial or nonresidential spaces. Mixing these figures together is a common mistake that can distort the income analysis used in your appeal. Review the form's instructions to correctly categorize each income stream.
TC201 is specific to a particular assessment year — the current version covers the 2026/27 assessment year — so make sure you're using the correct, up-to-date version of the form. Using an outdated form could result in your appeal being rejected or delayed. Always download the latest version directly from the NYC Tax Commission or a trusted source.
Before filing, make copies of your completed TC201 and all supporting documentation, including your main appeal application. If questions arise during the review process, having a complete record of what you submitted saves time and prevents disputes. Store digital copies in a secure, organized folder for easy reference.
Frequently Asked Questions
Assessment appeal forms are used by property owners to formally challenge the assessed value of their property as determined by a local tax authority. In New York City, these forms are submitted to the Tax Commission, which reviews the evidence and determines whether a reduction in assessed value is warranted. A lower assessed value can result in reduced property tax liability.
Property owners in New York City who believe their property has been over-assessed by the Department of Finance may file an assessment appeal with the NYC Tax Commission. Owners of rent-producing properties — such as apartment buildings or mixed-use commercial properties — are typically required to submit additional schedules, like Form TC201, alongside their main appeal application. Both individual landlords and corporate property owners may be eligible to file.
Form TC201 is the Income and Expense Schedule for Rent-Producing Property, an official NYC Tax Commission schedule that must be attached to a property assessment appeal application. It requires property owners to report detailed financial data — including rental income, occupancy rates, lease details, and operating expenses — for two fiscal years. The Tax Commission uses this information to assess whether the current property valuation accurately reflects the property's income-generating capacity.
No. Form TC201 is not a standalone document and is not valid if submitted separately from the main assessment appeal application. It must be attached as a supporting schedule to your primary Tax Commission appeal filing. Submitting it independently will not initiate or support an appeal.
Form TC201 is required for rent-producing properties, which include both residential rental buildings and nonresidential or mixed-use properties that generate income through leases. Property owners must report income and expense data for all units, whether residential or commercial. If your property generates rental income, you should check whether TC201 is required as part of your appeal submission.
For forms like TC201, you will generally need two years of income and expense data for your property, including gross rental income, vacancy rates, operating expenses, lease details, and occupancy breakdowns by unit type. Having accurate financial records such as rent rolls, leases, and profit-and-loss statements on hand will make the process significantly easier. Incomplete or inaccurate financial data can negatively affect the outcome of your appeal.
Assessment appeal deadlines are set by the relevant tax authority and typically fall within a specific window after annual property assessments are released. In New York City, the Tax Commission sets filing deadlines each year, and missing them generally means you cannot appeal until the following assessment year. It is important to check the current year's deadlines directly with the NYC Tax Commission to ensure timely filing.
In New York City, completed assessment appeal applications and required schedules like TC201 are submitted to the NYC Tax Commission. Submissions may be accepted online, by mail, or in person depending on the property type and the Tax Commission's current procedures. Always verify the preferred submission method and address on the Tax Commission's official website before filing.
Yes. AI-powered tools like Instafill.ai can fill out forms such as TC201 in under 30 seconds by accurately extracting and placing data from your source documents into the correct fields. This reduces the risk of manual entry errors and speeds up the preparation process considerably. Instafill.ai can also convert non-fillable PDF versions of these forms into interactive, fillable formats.
Manually completing a detailed schedule like TC201 can take significant time, especially when gathering two years of financial data and ensuring accuracy across all fields. However, using AI tools like Instafill.ai, the form-filling process itself can be completed in under 30 seconds once your source documents are ready. The overall time to file will depend on how quickly you can compile the required financial records and supporting documentation.
After submission, the NYC Tax Commission reviews your application and any attached schedules, such as TC201, to evaluate the merits of your appeal. The Commission may schedule a hearing or make a determination based on the submitted documentation. If the appeal is successful, the assessed value of your property may be reduced, resulting in lower property taxes.
Yes. Providing inaccurate or incomplete financial data on forms like TC201 can undermine your appeal and may result in an unfavorable determination by the Tax Commission. In some cases, submitting false information on official government forms can have legal consequences. It is important to review all entries carefully and ensure that reported figures are supported by accurate records before filing.
Glossary
- Assessed Value
- The dollar value assigned to a property by a government assessor, used as the basis for calculating property taxes. Property owners who believe this value is too high can file an appeal to have it reviewed.
- Tax Commission
- In New York City, the Tax Commission is the independent city agency that reviews and hears appeals from property owners who dispute their property's assessed value set by the Department of Finance.
- Assessment Appeal
- A formal request by a property owner to have their property's assessed value reconsidered by the appropriate authority, typically because they believe the valuation is inaccurate or unfair.
- Income and Expense Schedule
- A required financial disclosure document (such as TC201) where property owners report rental income, operating costs, and other financial details so assessors can determine a fair market value for income-producing properties.
- Rent-Producing Property
- Any property that generates rental income, including residential apartment buildings and commercial spaces. These properties are often assessed based on their income potential rather than just their physical characteristics.
- Assessment Year
- The specific tax year for which a property's value is being assessed and potentially appealed, such as the 2026/27 assessment year. Forms are typically year-specific and cannot be used interchangeably across different assessment periods.
- Nonresidential Occupancy
- Portions of a property used for commercial, retail, or other non-housing purposes. Income and expenses from nonresidential units are often reported separately from residential units on assessment forms.
- Net Operating Income (NOI)
- The total rental income a property earns minus its operating expenses, excluding mortgage payments. Tax commissions often use NOI to estimate a property's market value when reviewing assessment appeals.
- Capitalization Rate
- A percentage used by assessors to convert a property's net operating income into an estimated market value. A higher cap rate results in a lower assessed value, and vice versa.
- TC201
- The official New York City Tax Commission schedule that must be attached to an assessment appeal application for rent-producing properties, reporting two years of income and expense data. It is not valid as a standalone filing and must accompany the main appeal application.