- Property Tax Management
RPIE Penalty Removal
Unfortunately, many property owners vastly underestimate the importance of
filing the NYC RPIE – or the Claim of Exclusion – properly and in a timely
manner. The City has made it abundantly clear that penalties for non-filing or
late filing can be severe. The monetary penalties assessed against the property,
if unpaid, become a lien. Currently, penalties are assessed as a flat fee based
on the most recent assessed value of the property and, in some cases, as a
percentage of the assessed value. The table of penalties and respective
assessment ranges is reproduced below:
| Final Assessed Value | ||
| From | To | Penalty Amount |
| $40,001 | $99,999 | $300 |
| $100,000 | $249,999 | $750 |
| $250,000 | $499,999 | $1,500 |
| $500,000 | $999,999 | $3,000 |
| $1,000,000 | $4,999,999 | $5,000 |
| $5,000,000 | $9,999,999 | $20,000 |
| $10,000,000 | $14,999,999 | $40,000 |
| $15,000,000 | $24,999,999 | $60,000 |
| $25,000,000+ | $100,000 | |
These amounts match the Department of Finance’s published penalty schedule as of August 2026.
Owners required to file a Claim of Exclusion, and who did not submit a claim, will be fined $100 the first year, $500 after two consecutive years, and $1,000 after three or more.
If a required RPIE report is not filed for three (3) consecutive years, Finance is most likely to issue a penalty of five percent (5%) of the final actual assessed value of the property.
Outstanding RPIE penalties have proven to be a nuisance for both current owners and prospective purchasers. MGNY has helped identify relevant defenses in many scenarios and has contested improperly assessed RPIE penalties. Even in cases in which the penalty is already paid, MGNY has successfully obtained refunds for overpayment. The filing itself, including who must file and the June 1 deadline, is covered on our RPIE Filing page.
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