Real Property Income and Expense

This is a promotional entry. This text is usually given by a client.

Real Property Income and Expense (RPIE) is a yearly form some NYC property owners file. It shows rent income and building costs. The city uses it to set property taxes.

Owners of rental homes (even one two-family house with tenants) often need to file RPIE. If you own two private homes and rent one out, file RPIE for the rental property. Live-in single-family homes usually do not need it.

Who Files RPIE

NYC requires RPIE filings from most income-producing properties, such as:

• Rental buildings with multiple units.
• Commercial spaces, hotels, or parking lots.
• Most income-producing properties with an actual assessed value over $40,000 (unless excluded by law).

The city uses this data to set fair property tax rates for the next year.​

For Private Home Owners

If you are a private homeowner in NYC, here is what you need to know:

You usually do NOT file RPIE if:

• You own one 1-family house.
• You live there.
• You do not rent it out.

You MAY need to file RPIE (or Claim of Exclusion) if:

• You rent a whole house or apartment to tenants.
• Or you have more than one property and at least one property makes rental income.
• And the assessed value is over about $40,000.

If you are not sure, you or your tax preparer can look up your property’s assessed value and tax class on the NYC Department of Finance website.

revised 2/16/2026

Related terms

Feel free to comment on this post.

Use this form to suggest corrections, add missing details, or request clarification for any Encyclopedia entry. Your input helps us improve this Project for everyone.

Your name (optional)

Your Birthday

E-mail

Your correction or suggestion

Enter the confirmation code: 530

.

By submitting this form, you accept the privacy policy.

This could be your advertisement box.

Related Entries

• Accident*
• ACRIS*
• Alteration*
• CO*
• Contractor*