Tax Status for 5 v. 6 Fam?
I noticed that the DOF has my place down as a 6 family, but it was converted, legally and properly to a 5 family, with all of the proper paperwork filed. Should this change have any impact on my tax status? Or is the only difference really made once you get to 3 or less…
I noticed that the DOF has my place down as a 6 family, but it was converted, legally and properly to a 5 family, with all of the proper paperwork filed. Should this change have any impact on my tax status? Or is the only difference really made once you get to 3 or less units?
Advice appreciated.
In general a five family and six family for real eastate tax purposes they are the same. There are changes though for rent stabilization regulations.