New York Property Tax Calculator
Estimate your annual property tax from market value, assessment ratios, and local rates — with NYC class rates and STAR savings.
Published county effective rates load a starting point; override with your actual bill below.
STAR applies only to the school-tax portion.
Westchester model — taxable assessed value ≈ $125,000 (school-tax portion ≈ $191,250)
Your actual bill combines county, city/town, school, and special-district rates and your municipality's equalization rate. Use this as a planning estimate, then check the amount on your school tax bill or via your assessor.
How New York property taxes work
New York property tax starts with your municipality's assessed value of the property. Outside New York City, each assessing unit applies its own level of assessment, equalized by a state-set equalization rate; your combined bill stacks county, city or town, school-district, and special-district rates — expressed in dollars per $1,000 of assessed value. The state Tax Department publishes a municipal profile for every assessing unit, with its equalization rate and the roll of levies behind your bill (Municipal Data Portal).
The layer that takes the largest share is the school district, not the county: about 62% of the statewide property tax levy goes to school purposes against roughly 17% to counties. That is why STAR — a school-tax relief program — is the single biggest lever most owner-occupants have, and why an assessment challenge aimed at the school share moves more dollars than one aimed at the county share (where the property tax goes).
Inside New York City: the four-class system
New York City does not tax market value directly. Every parcel falls into one of four tax classes, each with its own assessment ratio and its own annual rate. Class 1 (one- to three-family homes) is assessed at just 6% of market value while classes 2 to 4 are assessed at 45% — which is why class 1 rates look enormous next to class 4 rates but the effective rate on a small home still lands under 1% of market value.
| Tax class | Property type | Assessment ratio | TY 2026 rate | TY 2025 rate |
|---|---|---|---|---|
| Class 1 | One-, two- and three-family homes | 6% of market value | 19.843% | 20.085% |
| Class 2 | Co-ops, condos and rental buildings of four units or more | 45% of market value | 12.439% | 12.500% |
| Class 3 | Utility property | 45% of market value | 11.108% | 11.181% |
| Class 4 | Commercial and industrial property | 45% of market value | 10.848% | 10.762% |
State law also caps how fast an assessed value may climb: class 1 assessments can rise no more than 6% in a year and 20% over five years, and classes 2a, 2b and 2c are capped at 8% a year and 30% over five years. A long-held class 1 home in a rising neighbourhood therefore sits below 6% of its true market value, and the gap grows each year. The assessed value on your Department of Finance notice, not market value, is what the rate multiplies.
STAR: the school-tax relief program
STAR reduces the school-tax portion of your bill — the biggest slice of most upstate and suburban bills. It comes in two benefit levels and is paid one of two ways: as a credit (a check or direct deposit from New York State) for anyone who bought after 2015, or as a reduction on the school tax bill for owners who have held the exemption continuously since 2015. New homeowners cannot receive the exemption anymore.
| Benefit | Age test | Income test |
|---|---|---|
| Basic STAR | None | $500,000 or less for the credit; $250,000 or less to keep an existing exemption |
| Enhanced STAR | At least one owner is 65 or older by December 31 of the benefit year | $110,750 or less for 2026 benefits; $113,550 or less for 2027 |
The income test is not simply your adjusted gross income. New York starts from federal adjusted gross income and subtracts the taxable portion of IRA distributions, and it counts only the owners and their resident spouses — the income of a non-resident co-owner is excluded. Eligibility for the 2026 benefit is judged on 2024 returns, so a one-off income spike ages out two years later.
Why your actual bill may differ
- Equalization rates and reassessments shift the taxable base year to year, and a town-wide reassessment can move your share of the levy even when the levy is unchanged.
- School districts set their tax rates every September; special districts (fire, water, sewer, library) add their own levies on top.
- Class 1 assessments in New York City grow at most 6% a year, so a long-held home can sit far below true market value.
- Exemptions — senior citizens, veterans, disabled homeowners, clergy — reduce assessed value directly, and most have their own income test and filing deadline.
Property tax meets income tax
Property tax feeds two other taxes. It is deductible against federal income tax up to the state and local tax (SALT) cap — $40,400 for 2026 ($20,200 for married filing separately), phasing down by 30% of modified adjusted gross income above $505,000 but never below $10,000 — and New York offers its own real property tax credit for lower-income homeowners and renters. High property-tax counties such as Westchester and Nassau routinely push a household past the cap, while low-income owners may do better with the New York credit. Compare both on the standard versus itemized deductions guide and run the interaction through the NY income tax calculator. If your property tax pushes you toward itemizing, the filing status comparison tool shows how the same income nets out for single, joint and head-of-household filers.
Sources: NYC Department of Finance property tax rates and assessment ratios; New York State Department of Taxation and Finance STAR eligibility and the Municipal Data Portal plus where the property tax goes.