WHAT IS THE ASIE?
The Annual Survey of Income and Expense forms are used by owners or operators of rent producing property to report income received from the operation of the real estate and the expenses incurred to earn that income.
NEW THIS YEAR
Penalties for failure to file ASIE will be imposed. Kindly note that filing the Annual Survey of Income and Expense (ASIE) is mandatory as required under section 6-30(e) of the Nassau County Administrative Code. Failure to file will result in your liability for a civil penalty of five hundred dollars ($500). To avoid the monetary penalty for non-compliance, please return your completed, signed forms postmarked no later than May 1, 2008.
If your property can be described in one or more of the categories below, file only the:
ASIE-2007
GENERAL
- Owner - Occupied properties that are 100% physically occupied by the owner, or owner-related entity or persons. This occupancy can include those related by blood or marriage and business entities under common control.
- Vacant land that is not rented and is not income-producing.
- Property that is owned and used exclusively by a non-profit organization that is wholly exempt and/or receives no rental income.
- Properties that are residential cooperatives or condominiums with no commerical component. All co-ops must submit the most recent copy of their Schedule "A" (Allocation of Shares) with their filing.
- Properties that were under construction and not leased in 2007.
- Properties that where purchased in 2007 or 2008.
If your property can be described in one or more of the categories below, file the:
ASIE-2007
GENERAL
and
ASIE-2007
INCOME AND EXPENSE
- Multiple residences - any combination of dwellings on 1 lot totaling 4 units.
- 4 to 6 family apartments - without commercial units and without elevators.
- Multiple use buildings (6 and under) with dwelling(s) attached or apartment(s) above. This status applies to mixed use properties with no more than 2 commercial units.
- Converted residence - where the use is primarily non-residential.
- All Commercial or Residential rent- producing properties with 4 or less tenants.
ASIE-2007
GENERAL
and
ASIE-2007
INCOME AND EXPENSE
and/or
ASIE-2007
RESIDENTIAL TENANT INVENTORY
ASIE-2007
COMMERCIAL TENANT INVENTORY |
WHAT ELSE IS NEW?
All Cooperative Apartment buildings must submit the most recent copy or their Schedule "A" (ALLOCATION OF SHARES) with the ASIE GENERAL form.
WHY SHOULD YOU FILE?
The filing of the Annual Survey of Income and Expense (ASIE) with the Department of Assessment is mandatory as required under Section 6-30 of the Nassau County Administrative Code. Failure to file will subject the liable property owner to civil penalties. Furthermore, filing the ASIE affords owners and operators the unique opportunity to participate in the assessment system thereby fostering fairer and more accurate property values.
WHICH PROPERTIES FILE ASIE?
Any commercial or residential property that is income-producing is subject to ASIE filing requirements.
HOW IS THIS INFORMATION USED BY THE DEPARTMENT OF ASSESSMENT?
The purpose of the survey is to gather data for statistical analysis that will help establish the full market value of all income-generating properties. The requested information will not be used directly to determine the assessed value of your property. Rather, the data collected will be used to analyze changes and trends in the levels of income and expense of income-producing properties, countywide. The information provided will aid in the development of departmental schedules and guidelines that will result in fairer and more equitable assessed values for all income-producing properties.
WHO WILL SEE MY INFORMATION?
The Department of Assessment will consider this information to be highly sensitive and keep it confidential.
FORMS AND ASSISTANCE
INTERNET - You can download forms by clicking any of the links.
PHONE - If you have questions regarding ASIE filing requirements, contact the department at:
(516) 571-1500 Monday through Friday, between the hours of 9:00 am and 4:45 pm.
EMAIL - Click on the following link to ask your ASIE question by email: ASIE@nassaucountyny.gov
TO DOWNLOAD ASIE FORMS AND INFORMATION CLICK ONE OR MORE OF THE LINKS BELOW TO FILE INCOME-PRODUCING RESIDENTIAL AND COMMERCIAL PROPERTIES:
ASIE-2007
INSTRUCTIONS
ASIE-2007
BROCHURE
ASIE-2007
GENERAL
ASIE-2007
INCOME AND EXPENSE
ASIE-2007
RESIDENTIAL TENANT INVENTORY
ASIE-2007
COMMERCIAL TENANT INVENTORY |
SEND COMPLETED FORMS POSTMARKED NO LATER THAN MAY 1, 2008 TO:
NASSAU COUNTY DEPARTMENT OF ASSESSMENT
240 Old Country Road, 4th Floor
Mineola, New York, 11501
Attn: ASIE Compliance |
