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On Thursday, September 17, 2009, Seiden & Schein. P.C. hosted a panel discussion, in the Mendik room of The Real Estate Board of New York, at 570 Lexington Avenue, entitled "What Developers and Owners Need to Know About Real Estate Taxes." The session covered various real estate tax issues that affect developers and owners of all types of real estate in New York City.

The panelists included Israel Schechter, Esq. and Steven Schleider, MAI, a principal of Metropolitan Valuation Services, Inc., both of whom are recognized experts in real estate valuation and property tax assessments, as well as Jay Seiden, Esq. and Alvin Schein, Esq.

A number of topics were covered, including:
• Valuation in the "real world" vs. valuation for real estate taxes;
• Projecting taxes post acquisition, pre-construction, during construction and post construction;
• Taxation of different types of property;
• Availability and benefits of tax exemption and abatement programs;
• Strategies to minimize real estate tax costs;
• Condominium assessment and tax allocation in mixed-use buildings (retail, parking, hotel and residential), pre- and post-construction and after stabilization;
• Drafting condominium declarations to maximize real estate tax benefits; and
• Drafting tax escalation clauses in leases to minimize owners' costs.

Attendees found the program to be informative and helpful. Please call us at (212) 935-1400 if we can be of assistance to you.