New York, New York County, New York Property Taxes
Median NEW YORK, NY effective property tax rate: 5.41%, significantly higher than the national median of 1.02%, but lower than the NY state median of 2.39%.
Median NEW YORK, NY home value: $5,282,000
Median annual NEW YORK, NY tax bill: $16,181, $13,781 higher than the national median property tax bill of $2,400.
How are property taxes in New York calculated?
Property taxes in NEW YORK, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding NEW YORK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in NEW YORK, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New York, New York County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
5.41%
Estimate Property Tax Bill
$285,756
$265,174
Property Tax Rates Across New York, New York County, New York
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In New York, the effective property tax rate of 5.41% is significantly higher than the national median of 1.02%, indicating a substantial property tax burden. Within New York County, the highest median tax rate is 14.39% in the 10282 zip code, while the lowest is 0.43% in the 10030 zip code. This disparity highlights the significant variation in property tax rates even within the same county. New York's property tax rates are notably higher than both the state and national medians, reflecting the unique fiscal demands and property values of the area. Understanding these variations is crucial for property owners seeking to manage their tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New York Tax Rate
5.41%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New York County Tax Rate
5.41%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
New York, New York vs Similar New York Cities
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hempstead Tax Rate
2.03%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oyster Bay Tax Rate
1.95%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Islip Tax Rate
2.67%
Property Tax Rates Across New York, New York County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10003 | 2.35% | 5.00% | 5.45% | 5.48% | 5.63% |
| 10004 | 4.47% | 5.33% | 5.33% | 5.51% | 5.63% |
| 10005 | 5.43% | 5.43% | 5.50% | 5.63% | 5.63% |
| 10006 | 5.41% | 5.41% | 5.46% | 5.63% | 5.63% |
| 10007 | 3.68% | 5.40% | 5.55% | 5.62% | 5.63% |
| 10010 | 5.25% | 5.38% | 5.55% | 5.63% | 5.63% |
| 10011 | 2.89% | 5.06% | 5.37% | 5.50% | 5.63% |
| 10012 | 1.50% | 3.72% | 5.07% | 5.48% | 5.57% |
| 10013 | 2.44% | 4.89% | 5.43% | 5.61% | 5.63% |
| 10014 | 0.50% | 4.26% | 5.23% | 5.52% | 5.63% |
| 10016 | 4.83% | 5.25% | 5.43% | 5.56% | 5.60% |
| 10017 | 5.06% | 5.24% | 5.48% | 5.63% | 5.63% |
| 10018 | 5.16% | 5.32% | 5.63% | 5.63% | 5.63% |
| 10019 | 5.15% | 5.33% | 5.44% | 5.59% | 5.63% |
| 10021 | 2.66% | 5.33% | 5.43% | 5.63% | 5.63% |
| 10022 | 5.05% | 5.18% | 5.46% | 5.58% | 5.63% |
| 10023 | 4.51% | 5.04% | 5.41% | 5.63% | 5.63% |
| 10024 | 1.88% | 4.97% | 5.26% | 5.57% | 5.63% |
| 10025 | 3.43% | 4.92% | 5.38% | 5.53% | 5.63% |
| 10028 | 3.86% | 4.88% | 5.35% | 5.55% | 5.63% |
| 10030 | 0.12% | 0.15% | 0.43% | 2.23% | 5.43% |
| 10031 | 0.20% | 0.31% | 1.32% | 5.25% | 5.44% |
| 10034 | 0.51% | 0.84% | 5.63% | 5.63% | 5.63% |
| 10036 | 4.58% | 5.09% | 5.28% | 5.54% | 5.54% |
| 10037 | 0.12% | 0.14% | 3.95% | 5.30% | 5.30% |
| 10065 | 4.57% | 5.23% | 5.52% | 5.60% | 5.63% |
| 10069 | 0.18% | 4.52% | 5.45% | 5.55% | 5.56% |
| 10075 | 4.96% | 5.27% | 5.52% | 5.61% | 5.63% |
| 10118 | 5.06% | 5.06% | 5.06% | 5.06% | 5.06% |
| 10128 | 4.34% | 5.27% | 5.48% | 5.63% | 5.63% |
| 10282 | 14.39% | 14.39% | 14.39% | 14.39% | 14.39% |
| 10001 | N/A | N/A | N/A | N/A | N/A |
| 10002 | N/A | N/A | N/A | N/A | N/A |
| 10009 | N/A | N/A | N/A | N/A | N/A |
| 10026 | N/A | N/A | N/A | N/A | N/A |
| 10027 | N/A | N/A | N/A | N/A | N/A |
| 10029 | N/A | N/A | N/A | N/A | N/A |
| 10032 | N/A | N/A | N/A | N/A | N/A |
| 10033 | N/A | N/A | N/A | N/A | N/A |
| 10035 | N/A | N/A | N/A | N/A | N/A |
| 10038 | N/A | N/A | N/A | N/A | N/A |
| 10039 | N/A | N/A | N/A | N/A | N/A |
| 10040 | N/A | N/A | N/A | N/A | N/A |
| 10044 | N/A | N/A | N/A | N/A | N/A |
| 10280 | N/A | N/A | N/A | N/A | N/A |
| 10463 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across New York, New York County, New York
When examining property taxes in New York, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The New York County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In New York County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New York. For example, the median home price in New York is $5,282,000, with tax bills ranging significantly across the county. Zip code 10118 has the highest median home price at $111,732,000.
Property Tax Assessment Values Across New York, New York County, New York
Source: Ownwell
$228,475
$55,980,238
$111,732,000
Median New York Market Value
$5,282,000
Median New York County Market Value
$5,233,000
Median New York Market Value
$255,644
Median United States Market Value
$235,294
New York, New York vs Similar New York Cities
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Hempstead Market Value
$353,000
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Oyster Bay Market Value
$756,000
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Islip Market Value
$471,014
Property Tax Assessment Values Across New York, New York County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10003 | $326,996 | $3,542,000 | $27,388,000 | $50,228,000 | $117,261,000 |
| 10004 | $205,534 | $278,920 | $416,494 | $600,953 | $53,176,000 |
| 10005 | $196,652 | $283,957 | $373,438 | $535,878 | $670,123 |
| 10006 | $166,035 | $189,736 | $228,475 | $426,396 | $861,932 |
| 10007 | $241,950 | $400,444 | $660,318 | $1,028,312 | $1,825,830 |
| 10010 | $230,920 | $410,131 | $13,518,000 | $48,396,000 | $73,932,000 |
| 10011 | $108,669 | $394,808 | $4,537,000 | $35,633,000 | $82,878,000 |
| 10012 | $268,942 | $1,017,870 | $6,892,000 | $17,815,000 | $68,474,000 |
| 10013 | $233,999 | $430,922 | $767,320 | $2,550,068 | $12,225,000 |
| 10014 | $66,317 | $417,990 | $4,050,000 | $17,146,000 | $45,112,000 |
| 10016 | $188,675 | $271,360 | $778,356 | $31,230,000 | $55,224,000 |
| 10017 | $181,506 | $316,532 | $17,244,000 | $60,096,000 | $90,538,000 |
| 10018 | $348,690 | $426,518 | $2,168,000 | $17,969,000 | $34,529,000 |
| 10019 | $183,187 | $266,063 | $525,323 | $16,336,000 | $81,347,000 |
| 10021 | $375,802 | $9,254,000 | $30,707,000 | $52,965,000 | $79,547,000 |
| 10022 | $255,256 | $736,837 | $24,886,000 | $80,998,000 | $125,584,000 |
| 10023 | $249,296 | $499,548 | $24,683,000 | $89,238,000 | $135,259,000 |
| 10024 | $274,465 | $1,444,902 | $14,340,000 | $32,871,000 | $63,485,000 |
| 10025 | $124,559 | $254,689 | $7,877,000 | $21,132,000 | $29,044,000 |
| 10028 | $372,924 | $4,094,000 | $23,666,000 | $44,931,000 | $67,471,000 |
| 10030 | $134,443 | $184,344 | $291,123 | $2,268,000 | $3,070,200 |
| 10031 | $96,329 | $227,917 | $2,149,500 | $4,365,000 | $25,366,000 |
| 10034 | $3,135,000 | $4,186,000 | $5,438,000 | $6,474,000 | $9,970,000 |
| 10036 | $212,066 | $267,927 | $377,233 | $1,890,000 | $19,920,000 |
| 10037 | $46,773 | $191,824 | $2,769,500 | $35,143,000 | $43,690,000 |
| 10065 | $196,896 | $385,108 | $21,364,000 | $40,869,000 | $70,991,000 |
| 10069 | $233,121 | $312,238 | $536,732 | $739,118 | $1,073,580 |
| 10075 | $211,655 | $637,181 | $19,413,000 | $50,815,000 | $61,116,000 |
| 10118 | $647,858 | $871,565 | $111,732,000 | $111,732,000 | $111,732,000 |
| 10128 | $196,729 | $365,491 | $10,707,000 | $46,074,000 | $74,991,000 |
| 10282 | $340,757 | $435,382 | $539,902 | $636,391 | $911,611 |
| 10001 | N/A | N/A | N/A | N/A | N/A |
| 10002 | N/A | N/A | N/A | N/A | N/A |
| 10009 | N/A | N/A | N/A | N/A | N/A |
| 10026 | N/A | N/A | N/A | N/A | N/A |
| 10027 | N/A | N/A | N/A | N/A | N/A |
| 10029 | N/A | N/A | N/A | N/A | N/A |
| 10032 | N/A | N/A | N/A | N/A | N/A |
| 10033 | N/A | N/A | N/A | N/A | N/A |
| 10035 | N/A | N/A | N/A | N/A | N/A |
| 10038 | N/A | N/A | N/A | N/A | N/A |
| 10039 | N/A | N/A | N/A | N/A | N/A |
| 10040 | N/A | N/A | N/A | N/A | N/A |
| 10044 | N/A | N/A | N/A | N/A | N/A |
| 10280 | N/A | N/A | N/A | N/A | N/A |
| 10463 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across New York, New York County, New York
In New York City, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The city uses a complex formula that considers factors such as property type, exemptions, and abatements to determine the final tax bill. Homeowners in New York County face a median property tax bill significantly higher than the national median of $2,400, with figures ranging from $10,322 at the 25th percentile to $46,044 at the 90th percentile. Notably, the highest median tax bill reaches $47,799 in zip code 10282, while the lowest is $4,273 in zip code 10037. These high property tax bills can place a considerable financial burden on homeowners.
Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing and challenging assessed values, Ownwell can help reduce tax liabilities, ensuring homeowners pay only their fair share. This service can lead to substantial savings, alleviating the financial pressure of high property tax bills in New York City.
Median New York Tax Bill
$16,181
Median New York County Tax Bill
$16,162
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
New York, New York vs Similar New York Cities
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Hempstead Tax Bill
$6,830
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Oyster Bay Tax Bill
$15,011
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Islip Tax Bill
$12,107
Property Tax Bills Across New York, New York County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10003 | $10,385 | $13,735 | $19,447 | $30,783 | $52,305 |
| 10004 | $9,070 | $12,079 | $15,290 | $21,660 | $26,885 |
| 10005 | $10,139 | $14,998 | $19,826 | $27,896 | $32,568 |
| 10006 | $8,977 | $10,363 | $12,353 | $24,006 | $48,232 |
| 10007 | $12,531 | $18,033 | $30,371 | $46,061 | $63,258 |
| 10010 | $12,571 | $14,913 | $22,187 | $34,808 | $54,181 |
| 10011 | $10,289 | $13,797 | $23,216 | $38,260 | $59,950 |
| 10012 | $8,552 | $13,489 | $26,277 | $47,642 | $90,961 |
| 10013 | $11,454 | $17,980 | $28,912 | $44,235 | $65,784 |
| 10014 | $8,709 | $13,721 | $23,650 | $39,782 | $59,333 |
| 10016 | $8,140 | $10,827 | $14,753 | $21,988 | $34,515 |
| 10017 | $7,390 | $9,829 | $13,001 | $21,086 | $34,050 |
| 10018 | $17,295 | $19,340 | $22,608 | $30,713 | $43,542 |
| 10019 | $9,196 | $11,814 | $17,275 | $27,802 | $52,247 |
| 10021 | $9,452 | $13,064 | $21,642 | $37,983 | $67,921 |
| 10022 | $8,473 | $11,806 | $18,567 | $30,179 | $48,189 |
| 10023 | $7,635 | $11,556 | $17,056 | $27,361 | $44,955 |
| 10024 | $8,050 | $11,767 | $18,337 | $31,165 | $52,849 |
| 10025 | $4,624 | $6,318 | $9,475 | $15,643 | $25,661 |
| 10028 | $8,688 | $12,663 | $22,581 | $35,565 | $63,122 |
| 10030 | $245 | $381 | $4,636 | $8,532 | $13,310 |
| 10031 | $1,075 | $3,653 | $5,998 | $8,383 | $11,935 |
| 10034 | $1,923 | $3,481 | $4,482 | $5,917 | $8,972 |
| 10036 | $8,518 | $12,485 | $15,983 | $20,920 | $29,197 |
| 10037 | $146 | $351 | $4,273 | $7,421 | $11,553 |
| 10065 | $9,554 | $13,121 | $20,036 | $29,889 | $58,373 |
| 10069 | $1,961 | $13,793 | $22,221 | $35,634 | $48,635 |
| 10075 | $9,832 | $11,677 | $16,772 | $28,469 | $57,262 |
| 10118 | $31,874 | $32,787 | $35,041 | $47,760 | $75,356 |
| 10128 | $8,206 | $10,966 | $15,581 | $23,148 | $40,030 |
| 10282 | $47,799 | $47,799 | $47,799 | $47,799 | $47,799 |
| 10001 | N/A | N/A | N/A | N/A | N/A |
| 10002 | N/A | N/A | N/A | N/A | N/A |
| 10009 | N/A | N/A | N/A | N/A | N/A |
| 10026 | N/A | N/A | N/A | N/A | N/A |
| 10027 | N/A | N/A | N/A | N/A | N/A |
| 10029 | N/A | N/A | N/A | N/A | N/A |
| 10032 | N/A | N/A | N/A | N/A | N/A |
| 10033 | N/A | N/A | N/A | N/A | N/A |
| 10035 | N/A | N/A | N/A | N/A | N/A |
| 10038 | N/A | N/A | N/A | N/A | N/A |
| 10039 | N/A | N/A | N/A | N/A | N/A |
| 10040 | N/A | N/A | N/A | N/A | N/A |
| 10044 | N/A | N/A | N/A | N/A | N/A |
| 10280 | N/A | N/A | N/A | N/A | N/A |
| 10463 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell