New York has one of the most unusual property-tax systems in the United States. The bill you receive has almost nothing to do with a single statewide rate, and a house worth the same amount in Manhattan, Buffalo, or Westchester can carry a tax burden that differs by a factor of three. This calculator walks through the two numbers that actually drive the bill — the assessment ratio and the effective tax rate — so you can estimate your annual and monthly property tax before you buy, refinance, or appeal your assessment.
Type a home value, pick the assessment ratio that matches your property class, and enter the effective tax rate for your county. Every figure on the result card updates instantly, including the implied levy rate on the assessment roll and the monthly escrow amount your lender will collect.
How to Use
- Enter the Home Market Value — what you believe the home would sell for today, not what you paid five years ago. NYC assessments are capped at a fraction of this number, so market value is the starting point.
- Set the Assessment Ratio. In New York City, Class 1 one-to-three-family homes are assessed at 6% of market value, while Class 2 apartment buildings, condos, and co-ops are assessed at 45%. Most upstate towns and Long Island counties assess at or near 100% of market value.
- Enter the Effective Tax Rate — annual tax divided by market value. NYC averages roughly 0.9%; Nassau and Westchester run about 1.6%–2.0%; Rochester, Syracuse, and Albany often land between 2.0% and 3.0%. Your county's treasurer publishes the current rate each January.
- Add any Exemptions you already receive — Basic or Enhanced STAR, veteran's credits, senior or disability exemptions — as a dollar amount subtracted from assessed value. Leave this at zero if you do not claim one.
- Read the result card. The Assessed Value line shows what the city or town rolls; the Implied Levy Rate is the nominal millage on that assessed number; the Annual Property Tax and Monthly Property Tax are the two figures your lender will use to size your escrow.
The math is deliberately simple: assessed value is market value times the ratio, and annual tax is taxable assessed value times the implied levy rate. Because the effective rate already nets out NYC abatements and circuit-breakers, the result is a close approximation of the bill you will actually receive.
How New York Property Tax Actually Works
New York State does not levy a property tax itself. Every county, city, school district, fire district, and water district votes on its own tax levy, and the county treasurer combines them into one bill. Two state rules shape how that bill is calculated:
- The assessment ratio. The New York State Office of Real Property Services sets a uniform assessment ratio for each municipality. In New York City, Class 1 residential property is assessed at 6% of market value, and Class 2 (condos, co-ops, rental buildings) at 45%. Outside the five boroughs, towns typically assess close to 100% of market value, but the state equalization rate can still push the effective figure off 100%.
- The effective tax rate. Because assessment ratios differ so wildly, comparing the nominal millage across counties is meaningless. The number that matters is effective rate = annual tax ÷ market value. NYC's effective rate is low (about 0.9%) because the 6% assessment ratio shrinks the tax base even though the nominal millage on the roll is around 15%. Upstate, where homes are assessed near 100%, the effective rate is higher even though the nominal millage looks lower.
The calculator bridges the two: it converts your market value to an assessed value at the ratio you choose, then back-solves the implied nominal levy rate from the effective rate you enter, and finally applies any exemption you claim.
Examples
Example 1 — A $800,000 NYC Class 1 brownstone. Market value $800,000, assessment ratio 6%, effective rate 0.9%, no exemption. Assessed value is $48,000; the implied levy on the roll is 15%; annual property tax is $7,200, or $600 per month. That is the number your mortgage escrow will reserve each month on top of principal and interest.
Example 2 — A $1,000,000 Westchester condo. Market value $1,000,000, assessment ratio 100%, effective rate 1.9%, no exemption. Assessed value equals market value at $1,000,000; the implied levy is 1.9%; annual tax is $19,000, or about $1,583 per month. Notice that a home worth only 25% more than the NYC brownstone carries nearly three times the tax bill — the difference is the assessment ratio, not the nominal rate.
Example 3 — A $250,000 Rochester bungalow with Enhanced STAR. Market value $250,000, assessment ratio 100%, effective rate 2.1%, exemption $30,000. Taxable assessed value is $220,000; annual tax is $4,620, or $385 per month. The STAR exemption cuts the school portion of the bill by roughly $630 a year.
Example 4 — A $2,000,000 Manhattan Class 2 condo. Market value $2,000,000, assessment ratio 45%, effective rate 1.0%. Assessed value is $900,000; the implied levy is about 2.22%; annual tax is $20,000, or $1,667 per month. Class 2 condos and co-ops pay a materially higher effective rate than Class 1 homes even inside the same borough.
FAQ
How is New York property tax calculated?
Start with the home's market value, multiply by the local assessment ratio to get assessed value, subtract any exemptions (STAR, veterans, senior), and multiply by the nominal levy rate on the assessment roll. In practice, the easiest shortcut is annual tax = market value × effective tax rate, where the effective rate is published by your county treasurer each year.
What is the property tax rate in New York City?
There is no single NYC rate. The effective rate on market value averages about 0.9% for Class 1 one-to-three-family homes and roughly 1.0%–1.2% for Class 2 condos and co-ops. The nominal millage on the assessed roll looks much higher (around 15%) because assessments are capped at 6% of market value for Class 1.
How does the 6% assessment ratio work in NYC?
New York City law caps the assessed value of Class 1 residential property at 6% of market value, with annual assessment increases limited to 6% or 20% over five years, whichever is lower. That is why a $1,000,000 brownstone is assessed at roughly $60,000 rather than $1,000,000 — and why the nominal millage on the roll looks high while the effective rate on your wallet stays near 0.9%.
What is STAR and how does it reduce my bill?
STAR (School Tax Relief) is a New York State exemption that subtracts a fixed amount from the assessed value used to calculate school taxes. Basic STAR is available to owner-occupants; Enhanced STAR is for seniors 65+ with limited income. Enter the exemption dollar amount on this page to see how it lowers your annual and monthly tax.
Which New York counties have the highest property taxes?
Effective rates are highest upstate and on Long Island. Nassau County runs around 2.2%, Westchester around 1.6%–2.0%, and Rochester, Syracuse, and Buffalo between 2.0% and 3.0%. New York City has one of the lowest effective rates in the state, near 0.9%, because of the 6% assessment cap.
Can I appeal my New York property tax assessment?
Yes. Every city and town has a Board of Assessment Review, and the filing deadline is typically the third Tuesday in May. You can file a grievance if you believe your assessed value is out of line with comparable homes. The New York State Tax Department publishes the grievance form and deadlines for every county.
Is property tax included in my mortgage payment?
If you escrow your loan, your lender collects one-twelfth of the estimated annual tax each month and pays the county on your behalf. If you paid 20% down and waived escrow, you will receive the bill directly and must pay it in two installments (July and January in New York City).
Disclaimer
This New York property tax calculator is provided for informational purposes only and does not constitute tax, legal, or financial advice. Estimates use the simplified assessment-ratio and effective-rate model; actual bills depend on your property class, local levy votes, abatements, exemptions, and assessment-growth caps that this tool does not model. Confirm your exact assessed value, exemptions, and rate with your county assessor or the New York City Department of Finance before making a purchase or refinancing decision.