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Your property tax rate is based on your tax class. There are four tax classes. The tax rates are listed below. Learn how we Calculate Your Annual Property Tax. Property tax rates for tax year 2025. Class 1 - 20.085% ; Class 2 - 12.500% ; Class 3 - 11.181% ; Class 4 - 10.762%
Find property information. Pay property taxes online. Explore property records (ACRIS) Apply for tax exemptions and abatements.
To estimate your annual property tax: Multiply the taxable value of your property by the current tax rate for your property's tax class. Property tax rates change each year, as well as the value of exemptions and abatements.
In New York City, property tax represented 44% of all the city tax dollars collected in fiscal years 2024, which ended on June 30, 2024. This chart shows how all city tax dollars were spent. You will receive a property tax bill if you pay the taxes yourself and have a balance.
Quick Links. View property tax bills and notices. Download your current and past bills. Make a payment. You can pay online, by mail, by phone, or in person. Property tax bills and payments. Learn about your property tax bill and how it is calculated. Property tax rates.
How we calculate your Property Tax Bill: Determining market value. Determining assessed value. Determining transitional assessed value (tax classes 2, 3, and 4 only) Apply exemptions. Learn how we calculate your property tax bill in the Class 1, Class 2 and Utility property tax guides.
You must pay the Real Property Transfer Tax (RPTT) on sales, grants, assignments, transfers or surrenders of real property in New York City. You must also pay RPTT for the sale or transfer of at least 50% of ownership in a corporation, partnership, trust, or other entity that owns/leases property and transfers of cooperative housing stock shares.
Assessments. The Department of Finance values your property every year as one step in calculating your property tax bill. View your property assessment roll data.
Property Value and Assessment. Your property's value determines how much property tax you have to pay. All New York City properties are assessed and valued each year by the Department of Finance (DOF).
Properties in New York City are divided into four classes, each valued and assessed differently under the law. Tax class 1 includes one- to three-unit residential properties.