Free property tax calculator tailored for New York (NY). Calculate instantly with state-specific rates and rules.
New York has an effective property tax rate of 1.40%, producing an average annual bill of $5,884. The US national average is 1.07% — New York's rate is above, placing it at rank #37 out of 50 states (rank 1 = lowest).
New York's property tax system is highly fragmented, with 1,000+ taxing jurisdictions. New York City has a complex class-based system: Class 1 (1-3 family homes) is assessed at 6% of market value with annual increases capped at 6% (or 20% over 5 years). Outside NYC, assessment ratios vary dramatically by municipality.
The STAR (School Tax Relief) program is New York's primary homeowner exemption. Basic STAR provides a $30,000 reduction in assessed value; Enhanced STAR (for seniors 65+) provides up to $75,000 off assessed value. NYC also has the Co-op/Condo Abatement.
NYC Class 1 properties have caps of 6% annual/20% over 5 years. Outside NYC there is no statewide cap, though the STAR program functions as a partial brake.
New York's property tax system has been called one of the most complex and inequitable in the nation. A $1M townhouse in Brooklyn may be assessed at $56,000 while a $200,000 home in Buffalo is assessed at $140,000 — stark differences in tax burden relative to value.
The median home value in New York is $380,000. NYC metro remains among the world's most expensive. The suburbs — Long Island, Westchester, and Hudson Valley — saw dramatic appreciation 2020-2022. Upstate NY (Buffalo, Rochester, Albany) offers affordable housing nationally. At the 1.40% effective rate, a homeowner at the median value pays roughly $5,884/year in property taxes.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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