Form TC201 "Income and Expense Schedule for Rent Producing Properties" - New York City

What Is Form TC201?

This is a legal form that was released by the New York City Tax Commission - a government authority operating within New York City. As of today, no separate filing guidelines for the form are provided by the issuing department.

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Download Form TC201 "Income and Expense Schedule for Rent Producing Properties" - New York City

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TAX COMMISSION OF THE CITY OF NEW YORK
1 Centre Street, Room 2400, New York, NY 10007
TC201INS
2020/21
INCOME AND EXPENSE SCHEDULE
FOR RENT PRODUCING PROPERTIES
FORM TC201 INSTRUCTIONS FOR 2020/21
Attachment to application.
Form TC201 is an
filing was made in the prior year, provide a written
attachment to an application or supplemental application
explanation for any change in the combined filing. If the
(Form TC150). It is not valid if submitted separately.
combined filing this year is different from prior years, a
written explanation must be provided by someone with
Attachment to Form TC150 or Form TC159.
For
personal knowledge.
properties assessed at $750,000 or more and for recently
acquired properties, if a required income and expense
Rules based on assessed value relating to accountant
schedule was not available by March 2 when the original
certifications, supplemental applications and reporting
application was filed, the Form TC201 may be attached to
prior calendar year income are governed by the highest
Form TC150 and filed between March 2 and March 24,
assessment in the group.
2020. Form TC201 must be complete when filed.
Form TC201 Part 2. You must indicate whether the
Who should use Form TC201? Use Form TC201 to
accounting basis used for the reporting year is the same
report income and expenses from the operation of a rental
as was used in the prior year. The accounting basis must
property. For example, an apartment building or a multi-
be the same one used for federal, state and local income
tenant commercial building. If the Applicant leases the
tax returns.
entire property to an unrelated person, the income and
Form TC201 Part 3. Report monthly rent due on the
expenses also should be reported on this form.
For
December 2019 or January 2020 rent roll. Your application
example, a vacant lot leased to a parking operator or a
may be denied review if you divide residential income
store building leased to a single tenant.
reported in Part 6 by 12 to calculate monthly rent in Part 3
A net lessor leasing to a related lessee that occupies the
instead of stating an actual month’s rent roll or if you report
property may use Form TC200, Part 5, instead of Form
12 times the monthly rent roll instead of the actual annual
TC201. A net lessor with a related lessee that sublets to
residential rental income.
unrelated tenants must use Form TC201.
Form TC201 Part 4.
Nonresidential occupancy
Cooperatives must use Form TC203. Hotels must use
information may be reported line by line separately for
Form TC208. A property used by the Applicant to operate
specified floors or for the building as a whole. If reported
a business such as a theater, public parking garage or
separately line by line, each line totals 100% for the space
department store must use Form TC214.
on the floor(s). If reported as a whole, the area of each
floor is a portion of the entire building area, and the sum of
A Form TC201 is NOT required to be filed for residential
the floor-by-floor subtotals in the right hand column equals
properties with six or fewer units and no commercial (e.g,
100% of the entire building area. Percentages must be
retail or office) space.
provided; approximate gross area, in square feet, may also
be provided.
Form TC201 Part 1. Related lots.
Form TC201 may cover a group of lots operated by the
Form TC201 Part 4 information for certain Applicants
same landlord if one or more of the following tests are met:
not otherwise required to report rental income and
i) all of the lots are contiguous, (i.e., sharing an edge or
expenses. An Applicant who owned an income-producing
boundary; neighboring, adjacent or adjoining; ii) all of the
property before January 1, 2020, but is not required to
lots are situated on the same or adjacent blocks and are
report income and expenses for 2019, must complete
operated as an economic unit; or iii) all of the lots are units
Form TC201 Part 4 if the property is rented or offered for
in a single condominium and are covered by a single
rent on January 5, 2020.
Attach Form TC201 to the
application (or if there are multiple blocks, by one
application, or submit it at the hearing attached to Form
application per block.).
TC159.
Each lot requires a separate application (e.g., Form
Reporting year. A report covering the full calendar year
TC101) even if the income and expense schedule covers
ending on December 31, 2019, or full fiscal year ending
multiple lots (other than condominium units.) Attach the
after July 31, 2019, is considered a current statement. In
combined Form TC201 to the application for the first lot in
most cases the Tax Commission requires a current
the group. On the other applications, refer to that first lot
statement.
or attach a copy of the Form TC201. If filing on Form
TC150, file the combined schedule only for the first lot in
If a current statement is unavailable, the Tax Commission
the group.
will accept a statement for the calendar year ending
December 31, 2018, but only if: i) the 2020/21 actual
File Form TC166 listing the related lots in a combined
assessment is less than $750,000; ii) the Applicant
group. See Form TC166 instructions. If there has been a
operated the property for all of 2018; and iii) the Applicant
change in the lots in the combined group from the
does not use a fiscal year for federal income tax purposes.
combined filing in the preceding year, or if no combined
1
TAX COMMISSION OF THE CITY OF NEW YORK
1 Centre Street, Room 2400, New York, NY 10007
TC201INS
2020/21
INCOME AND EXPENSE SCHEDULE
FOR RENT PRODUCING PROPERTIES
FORM TC201 INSTRUCTIONS FOR 2020/21
Attachment to application.
Form TC201 is an
filing was made in the prior year, provide a written
attachment to an application or supplemental application
explanation for any change in the combined filing. If the
(Form TC150). It is not valid if submitted separately.
combined filing this year is different from prior years, a
written explanation must be provided by someone with
Attachment to Form TC150 or Form TC159.
For
personal knowledge.
properties assessed at $750,000 or more and for recently
acquired properties, if a required income and expense
Rules based on assessed value relating to accountant
schedule was not available by March 2 when the original
certifications, supplemental applications and reporting
application was filed, the Form TC201 may be attached to
prior calendar year income are governed by the highest
Form TC150 and filed between March 2 and March 24,
assessment in the group.
2020. Form TC201 must be complete when filed.
Form TC201 Part 2. You must indicate whether the
Who should use Form TC201? Use Form TC201 to
accounting basis used for the reporting year is the same
report income and expenses from the operation of a rental
as was used in the prior year. The accounting basis must
property. For example, an apartment building or a multi-
be the same one used for federal, state and local income
tenant commercial building. If the Applicant leases the
tax returns.
entire property to an unrelated person, the income and
Form TC201 Part 3. Report monthly rent due on the
expenses also should be reported on this form.
For
December 2019 or January 2020 rent roll. Your application
example, a vacant lot leased to a parking operator or a
may be denied review if you divide residential income
store building leased to a single tenant.
reported in Part 6 by 12 to calculate monthly rent in Part 3
A net lessor leasing to a related lessee that occupies the
instead of stating an actual month’s rent roll or if you report
property may use Form TC200, Part 5, instead of Form
12 times the monthly rent roll instead of the actual annual
TC201. A net lessor with a related lessee that sublets to
residential rental income.
unrelated tenants must use Form TC201.
Form TC201 Part 4.
Nonresidential occupancy
Cooperatives must use Form TC203. Hotels must use
information may be reported line by line separately for
Form TC208. A property used by the Applicant to operate
specified floors or for the building as a whole. If reported
a business such as a theater, public parking garage or
separately line by line, each line totals 100% for the space
department store must use Form TC214.
on the floor(s). If reported as a whole, the area of each
floor is a portion of the entire building area, and the sum of
A Form TC201 is NOT required to be filed for residential
the floor-by-floor subtotals in the right hand column equals
properties with six or fewer units and no commercial (e.g,
100% of the entire building area. Percentages must be
retail or office) space.
provided; approximate gross area, in square feet, may also
be provided.
Form TC201 Part 1. Related lots.
Form TC201 may cover a group of lots operated by the
Form TC201 Part 4 information for certain Applicants
same landlord if one or more of the following tests are met:
not otherwise required to report rental income and
i) all of the lots are contiguous, (i.e., sharing an edge or
expenses. An Applicant who owned an income-producing
boundary; neighboring, adjacent or adjoining; ii) all of the
property before January 1, 2020, but is not required to
lots are situated on the same or adjacent blocks and are
report income and expenses for 2019, must complete
operated as an economic unit; or iii) all of the lots are units
Form TC201 Part 4 if the property is rented or offered for
in a single condominium and are covered by a single
rent on January 5, 2020.
Attach Form TC201 to the
application (or if there are multiple blocks, by one
application, or submit it at the hearing attached to Form
application per block.).
TC159.
Each lot requires a separate application (e.g., Form
Reporting year. A report covering the full calendar year
TC101) even if the income and expense schedule covers
ending on December 31, 2019, or full fiscal year ending
multiple lots (other than condominium units.) Attach the
after July 31, 2019, is considered a current statement. In
combined Form TC201 to the application for the first lot in
most cases the Tax Commission requires a current
the group. On the other applications, refer to that first lot
statement.
or attach a copy of the Form TC201. If filing on Form
TC150, file the combined schedule only for the first lot in
If a current statement is unavailable, the Tax Commission
the group.
will accept a statement for the calendar year ending
December 31, 2018, but only if: i) the 2020/21 actual
File Form TC166 listing the related lots in a combined
assessment is less than $750,000; ii) the Applicant
group. See Form TC166 instructions. If there has been a
operated the property for all of 2018; and iii) the Applicant
change in the lots in the combined group from the
does not use a fiscal year for federal income tax purposes.
combined filing in the preceding year, or if no combined
1
A detailed explanation as to why current year figures are
12.
Total commercial rent substantially below market
unavailable should be attached to the Form TC201.
rental levels
13.
Apparent inconsistency between RPIE and TCIE
If the Applicant uses a fiscal year for federal income tax
information or in the property’s owner-occupied
purposes ending before July 31, the schedule may report
status.
income for the most recently ended fiscal year, as of a date
How to substantiate these items.
six months prior to the date the application is filed.
Item 1.
State the specific circumstances causing the
operating loss, such as the number of tenants, time period
The form has space for figures for the year prior to the
and extent of vacancies, unusual expenses, or physical
current year.
The Tax Commission requests that
conditions.
Applicants provide this information, if available for the full
Items 2, 3, 4, 7, 12, 13. State specifics that would explain
year prior to the current year. Prior-year consideration will
the situation.
not be granted if prior-year information is not provided
Items 5, 8, 9 and 10. Submit a copy of the December 2019
either on the prior year Form TC201 or on the current year
or January 2020 rent roll or the 2020 DHCR filing for the
Form TC201.
building. Tenants, apartment numbers, apartment rents
Income and expenses to be reported. Report all income
and a total of the month’s residential rents must be stated.
received or accrued in connection with the property.
Item 11. Submit a weekly payroll statement from January
Report only actual operating expenses. Do not report
2020 with job descriptions, employee names, total gross
projections or reserves. Do not report payments to related
salary and benefits. Social security numbers should be
persons as expenses, unless disclosure is made as
crossed out on any documentation submitted.
directed in the instructions for Part 7 below.
Item 6.
Submit an itemized breakdown of repair and
maintenance costs.
Income and expenses must be itemized as indicated in
Form TC201 Parts 6 through 9 or review will be denied.
Substantiation must be either: (b) written on Form TC159,
or (c) attached to Form TC159. See Form TC600A for
Income and expense figures should be reported to the
details on when substantiation for the previous year is
nearest whole dollar amount. Using estimated or
required. Failure to submit substantiation may result in a
rounded figures may result in your application being denied
denial of review of the application. NOTE NEW SINCE
a merits review.
2019: substantiation of items 1 through 10 must be
Accountant certification. If the actual assessment is
submitted with the application or at the hearing.
above $5,000,000, Form TC201 (or a corrected Form
Cases will NOT be placed on hold to submit
TC201, if any) must be accompanied by Form TC309,
substantiation after the hearing.
which must be signed by an independent certified public
Supplemental information. You should strengthen your
accountant who has conducted an appropriate audit of the
application by supplementing the income and expense
Applicant’s records. NOTE: THE THRESHOLD HAS
schedule even when substantiation is not required. Copies
BEEN RAISED TO $5,000,000 FROM $1,000,000. The
of leases or abstracts, a rent roll, and itemizations of
accountant must sign his or her own name, not the firm
expenses may be useful. Supplementation is especially
name.
useful when there is no prior filing, there is a single major
Required substantiation in 2020. Submit substantiation
tenant, there is a substantial increase in the income from
to explain the following 13 items:
the prior year, or the building has unusual operating
1.
Operating loss
characteristics, for example, an unusually high expense
2.
More than 10% decrease in gross income
item. A DHCR report is helpful to support below market
3.
Continuing vacancy of 15% or more
rents.
Use Form TC159 when the supplemental
4.
Decrease or increase in operating expenses of
information is not attached to the application.
15% or more over the previous year’s expenses.
Department of Finance RPIE requirements. By June 1
5.
Average monthly rent per apartment $650 or less,
each year, rent-producing properties assessed for $40,000
or $850 or less per apartment in Manhattan on or
or more must file a Real Property Income and Expense
south of 110th Street.
statement with the Finance Dept. for use in preparing real
6.
Repairs and maintenance higher than 15% of
property
tax
assessments.
Exclusively
residential
gross rent
properties with ten or fewer apartments, residential
7.
More than 15 percentage point increase in
properties with up to six apartments and one store, and
vacancy
other types of properties may claim an exclusion from
8.
Residential rent roll times 12 less than total
filing.
residential income
9.
Residential rent roll times 12 110% or more of
Failure to timely comply with RPIE filing requirements
total residential income
results in the loss of eligibility for Tax Commission review
10.
Residential rent roll times 12 equals precisely
of the assessment the following year and subjects the
total residential income
owner to liability for fines.
11.
Wages higher than normal for the type of
property or the level of income
2
Filing Form TC201 does not satisfy the RPIE filing
2. REAL ESTATE TAX ESCALATION - Additional rent
requirement in 2020. Finance RPIE rules require electronic
received or accrued above the base rent, as provided for
filing of RPIEs. Information on 2020 RPIE filing
in the lease, for increases in real estate taxes.
requirements
is
posted
at
3. SALE OF UTILITY SERVICES - The gross amount
www1.nyc.gov/site/finance/taxes/property.page.
received or accrued from the sale of utility services such
Filing of the RPIE with the Department of Finance also
as electricity, gas and air conditioning. Do not deduct the
does not satisfy the requirement to file an income and
landlord’s costs.
expense statement with the Tax Commission.
4. SALE OF OTHER SERVICES. - The gross amount
FORM TC201 PART 6. INCOME INFORMATION
received or accrued for services such as laundry, valet,
Report all operating income received or accrued in
vending machines, etc.
connection with the property.
5. GOVERNMENT RENT SUBSIDIES - Direct rent
Definitions for purposes of Form TC201.
subsidies received or accrued (for example, Section 8) and
Related persons. Related persons include individuals
any abatement of real estate taxes or carry-over amount
related by blood, marriage or adoption, individuals and the
received or accrued in respect to senior citizen rent
business entities they control, business entities under
increase exemption (SCRIE) orders.
common control, and fiduciaries and the beneficiaries for
6. SIGNAGE/BILLBOARD – The gross amount received
whom they act. A person includes a corporation or other
from unrelated persons from renting any signage or
business entity.
billboard space on your property.
Floor area.
Where floor area is called for, state the
7. CELL TOWERS – The gross amount received for
approximate gross floor area to the best of your knowledge
placing a cell tower or other telecommunications
and ability. The measurement should be from exterior wall
equipment on your property.
to exterior wall for each floor.
Line k. OTHER OPERATING INCOME - Any other
Lines a - h. Rent received or accrued for space occupied
operating income derived from the property not previously
by tenants. Do not include space occupied by the owner,
specified (do not include interest on bank accounts and
applicant, related parties or affiliates. Rent must be
tenants’ deposits).
Identify the source or sources of
correctly identified by use (apartments, offices, stores, loft,
income on line k. Lease termination payments should be
factory, warehouse, storage, parking) and should be
reported and specified on line k.
consistent with the property description in Parts 7 and 8 of
Form TC101 or Form TC109 (where Form TC201 is filed
Line l. TOTAL GROSS INCOME - Add all items on lines
for condo units.) Regulated and unregulated residential
a through k.
rent must be reported separately on the two lines indicated
FORM TC201 PART 7. EXPENSE INFORMATION
in Part 6. When reporting rental income on the accrual
Report only actual operating expenses to the nearest
basis and the reporting entity’s leases call for scheduled
whole dollar amount in the appropriate category. Do not
increases in rent, do not straight-line rental income as may
report projections or reserves. Do not include any personal
be required by Financial Accounting Standard No. 13.
or business expenses for space occupied by the Applicant
Payments by tenants to the reporting entity to terminate a
or a related party. All related party expenses must be
lease prior to the lease’s expiration date (lease termination
disclosed in an attachment to Form TC201 or noted on
income) should be included and specified in line k.
Form TC309, stating:
the nature, amount of the
Additional explanation or disclosures about any line item
expense(s) and on what line of Part 7 the expense is
may be attached to Form TC201 or noted on Form TC309.
reported. An example of a related party disclosure is a
Line i. Income from related persons must be segregated
management fee, reported on line f of Part 7, representing
from other income and listed only on line i. State the
5% of rent collected during the year.
Services or goods
amount carried on the owner or Applicant’s books for
provided by related parties for which no charge was made
space occupied by the owner, Applicant, related parties or
may be disclosed on an attachment to Form TC201 or
affiliates. If such rental income is not reflected on the
noted on Form TC309 and a fair market expense
reporting entity’s books, an estimated fair market rental
estimated. For example, an owner of the property may
may be stated instead. Whether or not rent is stated,
provide management services at no charge.
report the number of residential units on line i and non-
Line a. FUEL - Amount paid or incurred for heating and
residential floor area in Part 4 on page 1 of Form TC201.
for supply of hot water. Include the cost of gas provided to
Line j. ANCILLARY INCOME
tenants.
1. OPERATING ESCALATION INCOME - Additional rent
Line b. LIGHT and POWER - Amount paid or incurred for
received or accrued above the base rent, as provided for
electricity. Include electricity supplied or sold to tenants;
in the lease, for increases in operating expenses, CPI
do not include electricity consumed for the owner’s
clauses, etc.
personal or business use.
3
Line c.
CLEANING CONTRACTS - Amount paid or
amortization, and amount of amortization included in line l
incurred for cleaning contracts
this year and accumulated amortization.
Line d. WAGES and PAYROLL - Wages and related
Common area improvements include replacements of
payroll taxes and employee benefits paid or incurred to
existing
building
components,
major
repairs,
and
employees responsible for the operation or maintenance
installation of safety and health systems. Examples of
of the property. Do not include salaries or commissions
replacement costs are replacement of boilers, roofs,
paid to directors, officers or management employees or
elevators, and residential kitchen appliances and cabinets.
agents.
Examples of safety and health systems are brick pointing,
fire safety systems, and environmental remediation.
Line e. REPAIRS and MAINTENANCE - Amount paid or
incurred for contracted labor and materials for the general
Amortization of lease buyout costs includes all costs to
maintenance and repair of the property. Do not include
acquire the unexpired lease of a vacating tenant to secure
reserves for replacements, amounts attributable to capital
an identified prospective tenant and may be included only
improvements and common area improvements (see
on line l if you itemize the amortized costs and the amount
instructions for line l below). See instructions above for
is amortized over the term of the new lease. Lease buyout
required substantiation of expenses for repairs and
costs incurred without an identified replacement tenant
maintenance in excess of 15% of gross income.
should be deferred until a new tenant is secured; itemize
and amortize such costs over the term of the new lease.
Line f. MANAGEMENT and ADMINISTRATION - Amount
paid or incurred for management, legal and accounting
Line m.
EXPENSES BEFORE TAXES - Add lines a
services attributable to operation of the property.
through l.
Line g. INSURANCE - Annual charges paid or incurred
Line n.
REAL ESTATE TAXES - Total annual real
for fire and other insurance premiums relating to the real
property taxes paid or incurred. Where there are SCRIE
property. Prorate multi-year premiums on a yearly basis.
abatements, state the total tax levied.
Line o. TOTAL EXPENSES - Add Lines m and n.
Line h. WATER and SEWER - Amount paid or incurred
for water and sewer usage.
Public records. Tax Commission application forms and
attachments are subject to public disclosure under the
Line i.
ADVERTISING - Amount paid or incurred for
Freedom of Information Law. Details of rent rolls and lease
advertising space for rent.
schedules whose disclosure would cause substantial injury
Line j. INTERIOR PAINTING and DECORATING - The
to the filer’s competitive position may be withheld if
cost of all contracted labor and decorating materials for
confidentiality is claimed.
interior painting and decorating, including paint, wallpaper
Where to get additional forms and information. Copies
and brushes). This item may be combined with REPAIRS
of
Tax
Commission
forms
may be
obtained
at
and MAINTENANCE if the Applicant’s books are
www1.nyc.gov/site/taxcommission/index.page, at the Tax
maintained on that basis, and line e should be so marked.
Commission’s main office and at Finance Business
Line k. AMORTIZED LEASING and TENANT
Centers in each borough. Questions about RPIE filings,
IMPROVEMENT COSTS - The amortization of all costs
how your assessment was determined, or general
incurred to lease space to tenants over the term of their
questions about real property tax assessments should be
respective leases. Examples of such costs are legal fees,
addressed
to
Finance.
Contact
Finance
at
brokers’ commissions, tenant improvements, etc.
www1.nyc.gov/site/finance/taxes/property.page
or call 3-1-1.
Line l. MISCELLANEOUS EXPENSES - Other expenses
paid or accrued not previously specified which are related
to the operation and maintenance of the property, including
amortization
of
common
area
improvements
and
amortization of certain lease buyout costs defined below.
Do not include income tax, commercial rent tax, rent,
ground
lease rent, capital costs, depreciation,
mortgage payments and acquisition costs, interest,
and uncollectible accounts receivable originating in a
previous year.
Amortization of common area improvements having a
useful life of more than one year may be included in line l
if you itemize the amortized costs and the amount is
amortized over the useful life of the item. For those costs
that are amortized, provide a schedule showing a brief
description, cost, date placed in service, period of
4
 High Value
TAX COMMISSION OF THE CITY OF NEW YORK
 Copy
TC201
1 Centre Street, Room 2400, New York, NY 10007
2020/21
INCOME AND EXPENSE SCHEDULE FOR RENT-PRODUCING PROPERTY
ATTACH TO AN APPLICATION. TC201 IS NOT VALID IF FILED SEPARATELY. READ TC201 INSTRUCTIONS BEFORE YOU BEGIN.
COMPLETE ALL PARTS OF TC201. ANSWER ALL QUESTIONS MARKED .
ALL INCOME FROM THE PROPERTY, WHATEVER ITS SOURCE, MUST BE REPORTED IN PARTS 6-9 ON PAGE 2.
1. PROPERTY IDENTIFICATION
BOROUGH (Bronx, Brooklyn, Manhattan, Queens or Staten Island)
BLOCK
LOT
TAX COMM. GROUP N0.
ASSESSMENT YEAR
2020/21
a.  If property is a condominium, does this schedule cover all lots listed on Form TC109? ________ (Y/N). If yes, skip section b.
b.  Does this schedule cover more than one tax lot? ______(Y/N). If yes, state total number of lots ______, and list block and lot numbers:
Block __________ Lots _____________________________
Block __________ Lots _____________________________
Block __________ Lots _____________________________
Block __________ Lots _____________________________
Check if applicable:  Additional lots are listed on page _____
 All lots are contiguous
 All lots are operated as a unit
c.  Does this schedule report occupancy and income for the entire tax lot (or lots)? _________(Y/N). If no, describe portions not covered and reason for
omission: _____________________________________________________________________________________________________________________
2. CURRENT YEAR REPORTING PERIOD AND ACCOUNTING BASIS
ACCOUNTANT’S CERTIFICATION FORM TC309 MAY BE REQUIRED SEE INSTRUCTIONS
Accounting basis:  Cash
 Accrual
Current year reporting period:
From _______/_______/_______ to _______/_______/_______
Has the accounting basis changed from the prior reporting period? Y 
N 
3. RESIDENTIAL OCCUPANCY AS OF JANUARY 5, 2020 - Number of dwelling units, rent by type of occupancy.
TYPE OF OCCUPANCY
NUMBER OF UNITS
MONTHLY RENT
RENTED, REGULATED
$
RENTED, UNREGULATED
$
OWNER OCCUPIED
$
VACANT
$
TOTAL
$
 Does rent reported include all recurring charges, such as parking, subsidies and SCRIE abatements? _____.
4. NONRESIDENTIAL OCCUPANCY AS OF JANUARY 5, 2020 – Approximate gross percent.
FLOOR
APPLICANT OR RELATED
RENTED (UNRELATED)
VACANT
TOTAL
FLOOR 3-___
%
%
%
%
ND
2
FLOOR
%
%
%
%
ST
1
FLOOR
%
%
%
%
BASEMENT
%
%
%
%
ENTIRE BUILDING
%
%
%
100%
5. LAND OR BUILDING LEASE INFORMATION AS OF JANUARY 5, 2020
 Is the entire tax lot (or lots) or the entire land portion of the tax lot (or lots) subject to an arms-length (i.e., between unrelated parties) lease? ______(Y/N). If
YES, complete this Part.
If the Applicant is the lessee(tenant), does Applicant receive any rental income from the property? ______ (Y/N). If YES, Applicant must complete Parts 6
through 10 on page 2. If NO, complete this Part or report lease information on Form TC200.
LESSOR (LANDLORD)
IF NOT OWNER OF RECORD, DESCRIBE RELATION TO PROPERTY
LESSEE (TENANT)
IF NOT APPLICANT, DESCRIBE RELATION TO APPLICANT
Term of lease: from _______/_______ to _______/_______
Annual rent $ ________________________________
Start date of annual rent stated: ______/______.
End date of annual rent stated ______/______.
End date of lease option: ______/______.
 Does lessor receive any sums in addition to annual rent stated? ______(Y/N). If yes, state additional sums here: $ ___________________________
 Does lessor pay any of the operating expenses or real estate taxes? ______(Y/N). If yes, specify:
________________________________________
_______________________________________________________________________________________________________________
 Is the lease a lease of the land portion of the property only? _____(Y/N).
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