New York, NY Property Tax Calculator
Estimate property tax for a home in New York, NY. Homes in New York are assessed by New York City (five boroughs), where the effective property tax rate runs about 0.90% of market value — so a median-priced New York home of $750,000 generates roughly $6,750 in annual property tax. Enter your specific home value below for a custom estimate.
Annual Tax
$6,750
0.90% of $750,000
Monthly Tax
$563
Typically escrowed with your mortgage
State Rank
#9 of 51
Highest rate = #1
vs. National Average
Highest property tax states
- New Jersey2.49%
- Illinois2.23%
- New Hampshire2.18%
- Connecticut2.15%
- Vermont1.90%
Lowest property tax states
- Hawaii0.32%
- Alabama0.41%
- Colorado0.55%
- Louisiana0.56%
- District of Columbia0.57%
These are state-level averages. Individual counties and cities can vary significantly — a home in Austin's urban core may have a far higher effective rate than the Texas state average, for example. For the most accurate estimate, get the exact millage rate from your county assessor and override the rate field above.
How to use it
A two-minute guide.
The Home Value field is pre-filled with New York's median home value of $750,000. Override with your actual home's market value for a specific estimate — your tax bill scales linearly with home value.
The rate is pre-filled with New York City (five boroughs)'s effective rate of 0.90% — the county-level average for owner-occupied homes, which is more precise than New York's statewide average of 1.73%. Individual school districts and special taxing zones within New York still shift the exact figure — if you know the rate from your latest tax bill, override it for the most precise estimate.
You'll see your estimated annual property tax, the monthly amount (which is typically escrowed with your mortgage payment), and a comparison to other states.
How it works
The math behind the result.
How New York's tax bill works out. Homes in New York are assessed and billed through New York City (five boroughs). The effective rate there averages about 0.90% of market value — below New York's statewide average of 1.73%. On New York's median home value of $750,000, that's approximately $6,750/year, or $563/month when escrowed with your mortgage.
How assessment works in New York. In New York City, 1-3 family homes are Class 1 property: assessed at 6% of market value with increases capped at 6% per year and 20% over five years. Outside NYC, towns assess at a local ratio of market value.
Exemptions worth claiming. The STAR program exempts part of a primary residence's value from school taxes (Basic STAR for incomes under $500k, Enhanced for seniors). NYC also offers a small Class 1 abatement. Exemptions are the most common reason two identical New York homes pay different tax bills — make sure yours are on file with New York City (five boroughs).
What property tax actually pays for. In New York — like the rest of New York — property tax funds local schools, public safety (police, fire), road maintenance, parks, libraries, and county government. Most of your bill stays in your county and school district.
Comparing to other states. Effective rates vary enormously across the US — from about 0.3% in Hawaii to nearly 2.5% in New Jersey. New York's 0.90% puts it in the lower third nationally.
Questions
Frequently asked.
Buying in New York? Estimate your full mortgage payment with our New York Mortgage Calculator. Or see how New York property tax rates compare across the state with our New York Property Tax Calculator.
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