New York Property Tax Calculator

How does NYC property tax work?

NYC property taxes are extraordinarily complex. Properties are divided into 4 classes with different assessment ratios and tax rates. Class 1 (1–3 family homes): assessed at 6% of market value, rate ~21% of assessed value = ~1.26% of assessed = ~0.88% of market value. Class 2 (condos, co-ops): assessed at 45% of market value, lower rate, resulting in ~1.37% effective rate. Class 4 (commercial): full value, highest rate (~10.7% of assessed value).

What is STAR and how do I get it?

STAR (School Tax Relief) helps homeowners offset school property taxes. Basic STAR: available to most homeowners (income under $500,000), delivered as a check (~$340) or reduced tax bill. Enhanced STAR: age 65+, income under $98,700, worth more (~$655). Must apply through the NY Tax Department (not your local assessor). Income limits and benefit amounts adjust annually.

Why are upstate NY property taxes so high?

Upstate New York counties (Monroe, Onondaga, Rockland) have some of the highest property tax rates in the US — over 2.5–3% effective rates. Key reasons: smaller tax bases spread over large geographic areas, heavy reliance on property tax to fund schools (unlike states with state income tax funding), and legacy pension obligations for municipal workers. New York limits school tax levy increases to 2%/year, but existing high rates remain.

Can I grieve my New York property tax assessment?

Yes — you can file a grievance with your local Board of Assessment Review (BAR) between January 1 and Grievance Day (usually the fourth Tuesday in May). In NYC, the deadline to file a TARP (Tax Appeals) petition is typically March 1. Evidence of lower comparable sales strengthens your case. Many firms work on contingency (taking 30–50% of first-year savings).