Instructions for Form RP-421-K Application for Real Property Tax Exemption for Capital Improvements to Multiple Dwelling Buildings Within Certain Cities - Auburn, Newburgh Cities, New York

Form RP-421-K Application for Real Property Tax Exemption for Capital Improvements to Multiple Dwelling Buildings Within Certain Cities - Auburn, Newburgh Cities, New York

This document contains official instructions for Form RP-421-K , Application for Multiple Dwelling Buildings Within Certain Cities - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form RP-421-K is available for download through this link.

FAQ

Q: What is Form RP-421-K?A: Form RP-421-K is an application for real property tax exemption for capital improvements to multiple dwelling buildings within certain cities in New York, specifically Auburn and Newburgh.

Q: Who is eligible to file Form RP-421-K?A: Owners of multiple dwelling buildings located in Auburn and Newburgh cities in New York are eligible to file Form RP-421-K if they have made capital improvements to their properties.

Q: What is the purpose of Form RP-421-K?A: The purpose of Form RP-421-K is to apply for a real property tax exemption on the increased assessed value resulting from eligible capital improvements made to multiple dwelling buildings in Auburn and Newburgh cities in New York.

Q: What are capital improvements?A: Capital improvements refer to permanent improvements made to a property that enhance its value, such as renovations, additions, or upgrades.

Q: Are there any deadlines for filing Form RP-421-K?A: Yes, there are specific deadlines for filing Form RP-421-K. It is recommended to check the instructions and guidelines provided by the New York State Department of Taxation and Finance for the current year's deadline.

Q: Is there a fee associated with filing Form RP-421-K?A: There is no fee associated with filing Form RP-421-K.

Q: How long does it take to process Form RP-421-K?A: The processing time for Form RP-421-K may vary. It is recommended to contact the Assessor's Office of the respective city for information on the estimated processing time.

Q: What supporting documents are required with Form RP-421-K?A: Supporting documents may vary, but typical requirements include detailed cost information, contracts, permits, and other relevant documentation proving the capital improvements made to the property.