rooftop wireless lease

by vinny
(nyc)

On a rooftop wireless lease, how to handle the property tax issue. Will the increase in income from the lease, effect the city tax assessment on the property?
Any strategies for that?
What does the building owner need in terms of additional insurance of the rooftop lease.

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Jan 02, 2017
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Not advice, just our opinion
by: Stephen

You have to make sure especially in places like New York City that the carrier is responsible for paying all property taxes assessed to the telecom equipment within a specific time frame. If NYC does a reassessment on your building and the taxes go up $10,000 because of the cell tower, unless you have the right tax language incorporated into the lease, if and when Verizon contests the assessment you might end up floating Verizon a $10,000 interest free loan for a year while they duke it out with the city. Hope that helps.

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