Interior assessments by building owners and residents reveal livable square footage was significantly higher on record than actual, driving up tax assessments.

Officials from the Department of Finance advise appealing to the Tax Commission if owners disagree with valuations, though responses from the Tax Commission and Mayor’s office were not provided.

The city’s refund process is viewed as difficult and inconsistent, with retroactive refund windows shrinking from six years to three, leaving some buildings with no refunds.

Building residents are pushing for refunds or credits to offset past overpayments and highlight the need for funds for ongoing maintenance and aging infrastructure.

Experts and building owners say a large portion of condos and co-ops may have overstated square footage, potentially leading to substantial refunds as a consequence, though city officials and the Tax Commission have not provided clear guidance.

In at least two cases, clerical error reports were filed with the Department of Finance to correct square footage, reducing the tax base, but refunds for overpayments in prior years have been limited or denied.

NYC condo and co-op owners allege city overtaxed them for years due to inflated square footage, affecting millions citywide.