Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions For Self-Storage Facilities Page 4
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16Instructions for Worksheet RPIE-2016 - Self-storage facilities
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c.
Properties with both of the following: six or fewer residential units and no more than one com-
mercial unit. Your property must be in Tax Class 1 or Tax Class 2, and the unit count must include
all units whether vacant or occupied. For example, if your property has five residential and two
commercial units, you must file an RPIE because you have two commercial units.
d.
Residential cooperative apartment buildings with no more than 2,500 square feet of commercial
space (not including garage space). To claim this exclusion you must still complete the RPIE-2016
(Parts I and IV). An RPIE is required for unsold sponsor-owned units if 10% or more of the units
remain unsold.
e.
Individual residential units in a condominium building/development. For a residential condo-
minium that has commercial space, professional space, and/or has 10% or more unsold spon-
sor-owned units, an RPIE must be filed for the commercial space, professional space or the
unsold sponsor-owned units. An RPIE must also be filed for residential units that are rentals and
not intended to be individually owned.
f.
If a property is rented exclusively to a person or entity related to the owner:
Business entities under common control.
●
Fiduciaries and the beneficiaries for whom they act.
●
Spouse, parents, children, siblings and parents in-law.
●
Owner-controlled business entities.
●
g.
The entire property is owner-occupied. This exclusion does not apply to owners of department
stores of 10,000 square feet or more, hotels or motels (whether occupied in part or in their en-
tirety), parking garages or lots, power plants and other utility-property, adult care/nursing home
facilities, gas stations, car washes, oil change facilities, self-storage, theatres or concert halls.
h.
The property is owned by a not-for-profit organization, government entity or is otherwise fully ex-
empt from property taxes and is not rented to any commercial, non-exempt tenants. If the prop-
erty is rented to a commercial, non-exempt tenant, the filing requirement may be satisfied by the
tenant or lessee filing an RPIE on behalf of the property.
i.
The property is vacant or uninhabitable and has no existing leases. If there are any existing
leases, the owner must file the RPIE.
j.
“Vacant, non-income-producing land” applies to empty lots only.
k.
The owner has not operated the property and is without knowledge of the income and expenses
for the entire calendar or fiscal year of the reporting period.
If you claimed exclusion(s), but still want to file income and expense information with the Department
of Finance, select “OK” at the pop-up message prompting you for a response on voluntary filing.
PART II: INCOME AND EXPENSE STATEMENT FOR SELF-STORAGE FACILITIES ONLY
sECtIoN E - VACANCY INFoRMAtIoN
1.
Percentage of space that was vacant as of the taxable status date (January 5, 2017):
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