Brooklyn, New York Property Taxes
The median property tax rate in Brooklyn, NY is 0.67%, considerably lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Brooklyn, the typical annual property tax bill reaches $6,747, far exceeding the national median of $2,690. Property taxes in Brooklyn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brooklyn's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brooklyn or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brooklyn, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$7,330
$7,247
Ownwell’s Brooklyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brooklyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brooklyn to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brooklyn, New York
Property taxes in Brooklyn, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brooklyn is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Brooklyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brooklyn estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Brooklyn's effective property tax rate to other areas in Kings County and the national median. For comparison, the 11243 zip code has the highest median property tax rate of 3.37%, while the 11213 zip code has the lowest median tax rate of 0.40%. Understanding how these areas compare with Brooklyn provides valuable insights into the varying tax landscape across Kings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brooklyn Tax Rate
0.67%
Average Kings County Tax Rate
0.67%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brooklyn, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11201 | N/A | N/A | N/A | N/A | N/A |
| 11203 | 0.50% | 0.64% | 0.73% | 0.83% | 0.96% |
| 11204 | 0.40% | 0.53% | 0.63% | 0.77% | 2.23% |
| 11205 | N/A | N/A | N/A | N/A | N/A |
| 11206 | N/A | N/A | N/A | N/A | N/A |
| 11207 | 0.21% | 0.32% | 0.55% | 0.79% | 4.71% |
| 11208 | 0.30% | 0.47% | 0.61% | 0.75% | 0.90% |
| 11209 | 0.52% | 0.61% | 0.71% | 0.82% | 1.01% |
| 11210 | 0.47% | 0.64% | 0.75% | 0.85% | 0.94% |
| 11211 | 0.14% | 0.23% | 0.49% | 3.16% | 5.17% |
| 11212 | N/A | N/A | N/A | N/A | N/A |
| 11213 | 0.17% | 0.28% | 0.40% | 0.54% | 1.00% |
| 11214 | N/A | N/A | N/A | N/A | N/A |
| 11215 | 0.16% | 0.21% | 0.28% | 0.74% | 3.13% |
| 11216 | 0.17% | 0.22% | 0.32% | 0.75% | 2.15% |
| 11217 | 0.20% | 0.26% | 0.47% | 4.11% | 5.21% |
| 11218 | 0.27% | 0.36% | 0.46% | 0.59% | 1.51% |
| 11219 | 0.36% | 0.49% | 0.63% | 0.83% | 2.12% |
| 11220 | 0.26% | 0.41% | 0.52% | 0.69% | 1.83% |
| 11221 | 0.14% | 0.19% | 0.29% | 0.59% | 1.53% |
| 11222 | 0.18% | 0.26% | 0.37% | 2.22% | 4.60% |
| 11223 | 0.32% | 0.47% | 0.60% | 0.72% | 1.02% |
| 11224 | N/A | N/A | N/A | N/A | N/A |
| 11225 | 0.25% | 0.33% | 0.41% | 0.54% | 2.11% |
| 11226 | 0.32% | 0.41% | 0.54% | 0.75% | 4.99% |
| 11228 | 0.45% | 0.59% | 0.68% | 0.76% | 0.86% |
| 11229 | 0.43% | 0.62% | 0.72% | 0.83% | 0.98% |
| 11230 | 0.37% | 0.49% | 0.61% | 0.73% | 1.02% |
| 11231 | 0.17% | 0.23% | 0.41% | 1.38% | 4.96% |
| 11232 | N/A | N/A | N/A | N/A | N/A |
| 11233 | 0.17% | 0.23% | 0.30% | 0.55% | 0.88% |
| 11234 | 0.65% | 0.75% | 0.84% | 0.93% | 1.04% |
| 11235 | N/A | N/A | N/A | N/A | N/A |
| 11236 | 0.59% | 0.69% | 0.79% | 0.88% | 0.97% |
| 11237 | 0.21% | 0.29% | 0.39% | 0.59% | 2.95% |
| 11238 | N/A | N/A | N/A | N/A | N/A |
| 11239 | 0.21% | 0.30% | 0.42% | 0.60% | 0.89% |
| 11242 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
| 11243 | 3.37% | 3.37% | 3.37% | 3.37% | 3.37% |
| 11249 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Brooklyn, New York
In Brooklyn, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kings County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Brooklyn, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Brooklyn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Brooklyn is $9,937 in zip code 11217, while the lowest is $2,839 in zip code 11239.
Average Brooklyn Assessed Value
$1,094,000
Average Kings County Assessed Value
$1,094,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brooklyn, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11201 | N/A | N/A | N/A | N/A | N/A |
| 11203 | $525,000 | $669,000 | $771,000 | $920,000 | $1,169,000 |
| 11204 | $337,491 | $971,000 | $1,290,000 | $1,694,750 | $2,191,300 |
| 11205 | N/A | N/A | N/A | N/A | N/A |
| 11206 | N/A | N/A | N/A | N/A | N/A |
| 11207 | $106,396 | $582,000 | $811,000 | $1,015,000 | $1,336,000 |
| 11208 | $590,000 | $713,000 | $841,000 | $957,000 | $1,067,000 |
| 11209 | $948,000 | $1,314,000 | $1,822,000 | $7,330,000 | $12,810,000 |
| 11210 | $678,000 | $814,000 | $1,111,000 | $2,027,000 | $5,891,000 |
| 11211 | $120,614 | $206,492 | $429,319 | $2,032,000 | $2,528,000 |
| 11212 | N/A | N/A | N/A | N/A | N/A |
| 11213 | $618,000 | $1,024,000 | $1,457,000 | $1,861,000 | $2,364,000 |
| 11214 | N/A | N/A | N/A | N/A | N/A |
| 11215 | $203,302 | $1,111,028 | $2,362,000 | $3,492,000 | $5,178,000 |
| 11216 | $152,523 | $570,250 | $1,583,000 | $1,945,000 | $2,284,000 |
| 11217 | $167,758 | $374,963 | $2,228,000 | $3,786,000 | $6,538,700 |
| 11218 | $605,588 | $1,344,000 | $1,835,000 | $4,685,000 | $6,987,000 |
| 11219 | $187,447 | $640,786 | $1,380,000 | $1,813,000 | $2,586,600 |
| 11220 | $173,291 | $1,125,500 | $1,446,000 | $1,717,000 | $11,505,000 |
| 11221 | $251,052 | $1,079,250 | $1,401,000 | $1,651,000 | $1,888,000 |
| 11222 | $151,487 | $243,930 | $1,390,000 | $2,156,000 | $2,676,000 |
| 11223 | $267,519 | $984,000 | $1,319,000 | $1,891,000 | $4,627,000 |
| 11224 | N/A | N/A | N/A | N/A | N/A |
| 11225 | $196,148 | $1,256,000 | $1,781,000 | $3,369,000 | $6,867,000 |
| 11226 | $194,143 | $897,250 | $1,460,000 | $3,296,000 | $5,993,000 |
| 11228 | $907,000 | $1,076,000 | $1,248,000 | $1,517,000 | $1,759,000 |
| 11229 | $153,468 | $721,500 | $1,018,000 | $1,664,000 | $5,399,000 |
| 11230 | $226,744 | $1,223,000 | $1,971,000 | $5,174,000 | $9,498,000 |
| 11231 | $163,312 | $483,898 | $1,607,000 | $2,978,500 | $3,976,500 |
| 11232 | N/A | N/A | N/A | N/A | N/A |
| 11233 | $718,400 | $978,000 | $1,254,000 | $1,695,000 | $1,930,600 |
| 11234 | $619,000 | $719,000 | $836,000 | $1,035,000 | $1,399,200 |
| 11235 | N/A | N/A | N/A | N/A | N/A |
| 11236 | $541,940 | $672,000 | $805,000 | $938,000 | $1,052,000 |
| 11237 | $153,221 | $587,000 | $1,128,000 | $1,309,250 | $1,542,200 |
| 11238 | N/A | N/A | N/A | N/A | N/A |
| 11239 | $416,729 | $525,000 | $627,000 | $755,000 | $800,000 |
| 11242 | $881,000 | $881,000 | $881,000 | $881,000 | $881,000 |
| 11243 | $168,503 | $196,920 | $255,420 | $317,215 | $363,644 |
| 11249 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Brooklyn, New York
In Brooklyn, Kings County, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and condition. For instance, the median home price in Brooklyn is $1,094,000, which is significantly higher than the national median. Homeowners in Brooklyn can expect a wide range of tax bills. The 25th percentile tax bill is $4,676, while the 75th percentile is $9,153, and the 90th percentile reaches $12,568. The highest median tax bill in the area is $9,937 in the 11217 zip code, while the lowest median tax bill is $2,839 in the 11239 zip code. These variations significantly impact homeowners, as higher property values and tax rates can lead to substantial annual expenses, making it crucial for homeowners to understand how their tax bills are calculated.
Average Brooklyn Tax Bill
$6,747
Average Kings County Tax Bill
$6,747
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Brooklyn, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11201 | N/A | N/A | N/A | N/A | N/A |
| 11203 | $4,026 | $5,154 | $5,761 | $6,457 | $7,416 |
| 11204 | $4,599 | $6,679 | $8,376 | $10,449 | $14,324 |
| 11205 | N/A | N/A | N/A | N/A | N/A |
| 11206 | N/A | N/A | N/A | N/A | N/A |
| 11207 | $1,885 | $2,863 | $3,952 | $5,479 | $7,379 |
| 11208 | $2,481 | $3,670 | $5,043 | $6,297 | $7,358 |
| 11209 | $5,418 | $8,072 | $9,704 | $11,550 | $14,520 |
| 11210 | $5,157 | $6,016 | $7,279 | $9,503 | $12,290 |
| 11211 | $401 | $3,203 | $5,835 | $9,346 | $13,709 |
| 11212 | N/A | N/A | N/A | N/A | N/A |
| 11213 | $2,006 | $4,094 | $5,997 | $7,837 | $9,787 |
| 11214 | N/A | N/A | N/A | N/A | N/A |
| 11215 | $1,882 | $4,058 | $7,012 | $10,714 | $16,940 |
| 11216 | $2,015 | $3,663 | $5,109 | $6,876 | $9,722 |
| 11217 | $3,972 | $6,735 | $9,937 | $14,171 | $21,980 |
| 11218 | $3,600 | $5,502 | $7,077 | $8,834 | $10,964 |
| 11219 | $3,209 | $5,872 | $8,463 | $11,588 | $15,630 |
| 11220 | $2,755 | $4,922 | $7,275 | $8,613 | $10,319 |
| 11221 | $1,942 | $2,783 | $4,234 | $6,722 | $8,601 |
| 11222 | $2,438 | $4,510 | $5,994 | $8,040 | $11,295 |
| 11223 | $4,591 | $6,232 | $8,116 | $10,182 | $13,726 |
| 11224 | N/A | N/A | N/A | N/A | N/A |
| 11225 | $2,798 | $4,972 | $6,795 | $7,861 | $9,888 |
| 11226 | $3,090 | $5,141 | $6,477 | $8,381 | $10,473 |
| 11228 | $5,613 | $7,346 | $8,660 | $10,069 | $11,873 |
| 11229 | $3,473 | $5,288 | $7,036 | $8,636 | $10,437 |
| 11230 | $4,485 | $6,690 | $8,917 | $11,594 | $15,405 |
| 11231 | $2,976 | $4,758 | $7,772 | $11,348 | $16,358 |
| 11232 | N/A | N/A | N/A | N/A | N/A |
| 11233 | $1,921 | $2,936 | $4,663 | $6,632 | $8,503 |
| 11234 | $4,684 | $5,622 | $6,700 | $8,250 | $10,315 |
| 11235 | N/A | N/A | N/A | N/A | N/A |
| 11236 | $3,646 | $5,161 | $6,323 | $7,475 | $8,485 |
| 11237 | $1,386 | $3,211 | $4,752 | $5,928 | $8,017 |
| 11238 | N/A | N/A | N/A | N/A | N/A |
| 11239 | $1,423 | $1,937 | $2,839 | $3,507 | $4,408 |
| 11242 | $7,556 | $7,556 | $7,556 | $7,556 | $7,556 |
| 11243 | $5,654 | $6,698 | $8,660 | $10,675 | $12,273 |
| 11249 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Kings Assessment Review Commission | |
| Website | propertyinformationportal.nyc.gov |