New York City property tax: where it goes
A typical New York City house pays about $6,550 a year on the property tax bill, including flat charges on the same bill. Estimated from public rates, not anyone's actual bill.
A New York City house pays 0.842% of its value in property tax. For a house at $777,600 of home value, that's about $6,547 a year.
Tax is levied on home value (Census average: median real estate taxes paid divided by median home value).
NYC's Class 1 bill is 19.843% of assessed value, and assessments are capped at 6% a year and 20% over five years, so the bill depends on how long the assessment has been capped rather than on today's market value. The Census average reflects what owners actually pay.
Pay or manage it
The combined rate
| Taxing agency | Rate | On $777,600 |
|---|---|---|
| All property taxes combined (New York City is the only taxing body), as a share of home value | 0.8419% | $6,547 |
| Total | 0.842% | $6,547 |
Census ACS 2020–2024 (5-year) median taxes paid and median home value.
How New York City compares with nearby cities
Property tax rate
- New York City0.84%
- Mount Kisco · 39 mi1.59%
- Linden · 16 mi1.79%
- Roselle Park · 17 mi2.12%
The combined rate of every agency on the bill, before exemptions.
Ways to pay less
- Seniors 65+: Senior Citizen Homeowners' Exemption (SCHE). Income limit $58,399 How: Combined annual income of owner and spouse or co-owner cannot exceed $58,399; apply by March 15.
- School Tax Relief (STAR). Tax savings: approximately $300/year How: DOF lists tax savings of approximately $300/year for STAR on its residential exemptions page.
Dates
| When | What |
|---|---|
| March 15 | Apply or renew SCHE by March 15 for the tax year beginning July 1 |
| July 1 and January 1 | Class 1 property tax due (assessed value over $250,000) |
| July 1, October 1, January 1, April 1 | Quarterly payments for assessed value of $250,000 or less |
Sources
Checked October 28, 2026. Every number here comes from the public sources listed, matched by our checker.
Rates change every year; this page shows when it was last checked. Nothing here is legal, tax or insurance advice.