Understanding New York Property Taxes: 2026
The complete, authoritative resource for maximizing your New York property tax savings.
Key figures
- Class 1 rate, on assessed value
- 19.843%
- FY2026, adopted October 2025 · NYC Department of Finance
- Class 1 assessment ratio
- 6.000%
- of market value, 1-3 family homes · RPTL §1802
- Class 2 rate, on assessed value
- 12.439%
- FY2026, co-ops, condos, 4+ units · NYC Department of Finance
- Enhanced STAR income limit
- $110,750
- 2026-27 school year · NYS Tax and Finance
- Basic STAR, off assessed value
- $30,000
- school taxes only · RPTL §425
Reviewed September 1, 2026 · figures come from the same data the calculator uses; sources are cited where each figure is discussed below.
- • Enhanced STAR income limit is now $110,750
- • Enhanced STAR takes $88,500 off the value school taxes are figured on
- • A Basic STAR recipient since 2015 is now moved up to Enhanced automatically at 65, without applying
STAR Program
School Tax Relief (STAR) provides property tax relief for primary residences.
Veterans Benefits
Comprehensive veteran exemptions available statewide.
NYC 4-Class Property Tax System
Property Classes
2025 Tax Rates
How to Calculate Your Property Tax
Step 1: Market Value
The assessed market value of your property as determined by the assessor.
Step 2: Assessment Ratio
Apply the assessment ratio (varies by property type and location).
Step 3: Exemptions
Subtract applicable exemptions (STAR, veteran, senior, etc.).
Step 4: Tax Rate
Multiply by the local tax rate to get your annual tax bill.
Important Dates & Deadlines 2025
STAR Applications
Assessment Grievances
Top Money-Saving Strategies
Apply for STAR
Can save hundreds to thousands annually on school taxes.
Check Veteran Status
Multiple veteran exemptions can stack with STAR.
Senior & Disabled Benefits
Age 65+ and disabled persons qualify for additional exemptions.
Challenge Your Assessment
File a grievance if your assessment seems too high.
Official Resources
State Resources
NYC Resources
Disclaimer: Tax strategies must comply with New York law and local regulations. Requirements and savings amounts vary by location and individual circumstances. This guide provides general information and should not be considered as tax or legal advice.