New York County, New York Property Taxes

Name: Property Tax Bills Across New York County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median New York County effective property tax rate: 5.41%, significantly higher than the national median of 1.02%.
Median New York County home value: $5,233,000
Median annual New York County tax bill: $16,162, $13,762 higher than the national median property tax bill of $2,400.

How are property taxes in New York County calculated?

Property taxes in New York County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in New York City or another part of New York County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

New York County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

5.41%

Estimate Property Tax Bill

$283,105

$262,714

Ownwell’s New York County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New York County with just two data points.

By entering your property's estimated assessed value, our calculator applies New York County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in New York County. With a median property tax bill that can reach up to $16,181 in New York City, compared to the national median of $2,400, understanding your potential tax burden is crucial.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across New York County, New York

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide essential services and divides that by the total assessed 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.

Below, you can compare New York County's effective property tax rate to other counties in New York or the U.S. median property tax rate. In New York County, the median property tax rate is notably higher than the national median, reflecting the area's dense population and high property values. The highest median tax rate within the county is found in New York City, while the Bronx boasts the lowest median tax rate. These variations within the county highlight how local economic factors and budgetary needs influence property tax rates, impacting homeowners' annual tax bills. Understanding these differences can help property owners make informed decisions and potentially save on their property taxes.

Property Tax Rates Across New York County, New York

Source: Ownwell

0.43%

7.41%

14.39%

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%

Property Tax Rates Across New York County, New York

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Bronx	0.48%	0.58%	0.64%	0.75%	0.82%
New York	1.17%	5.02%	5.41%	5.58%	5.63%

Source: Ownwell

Property Tax Assessment Values Across New York County, New York

When examining property taxes in New York County, 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 Department of Finance 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. Assessment notices: In New York County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 County. For example, the median tax bill in New York County is $16,181, with tax bills ranging significantly across the county. New York has the highest median home price at $5,282,000.

Property Tax Assessment Values Across New York County, New York

Source: Ownwell

$228,475

$55,980,238

$111,732,000

Median New York County Market Value

$5,233,000

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across New York County, New York

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Bronx	$420,014	$628,000	$867,000	$1,050,000	$1,294,400
New York	$150,158	$321,418	$5,282,000	$33,866,000	$78,918,000

Source: Ownwell

Property Tax Bills Across New York County, New York

Property tax bills in New York County, NY, are determined by assessing the property's market value and applying the local tax rate. The county's median home price is significantly higher than the national average, at $5,233,000, which contributes to the higher tax bills. The tax bill is calculated by multiplying the assessed value of the property by the tax rate set by local authorities. Homeowners in New York County experience a wide range of tax bills, with the 25th percentile at $10,304 and the 75th percentile at $27,742. At the 90th percentile, tax bills can reach as high as $46,006. The highest median tax bill in the county is found in New York City, at $16,181, while the Bronx has the lowest median tax bill of $5,761. These figures highlight the variation in tax burdens within the county. The substantial property tax bills can significantly impact homeowners, affecting their overall financial planning and the affordability of homeownership in the area.

Property Tax Bills Across New York County, New York

Source: Ownwell

$4,273

$26,036

$47,799

Median New York County Tax Bill

$16,162

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across New York County, New York

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Bronx	$2,694	$3,332	$5,761	$6,776	$8,050
New York	$5,910	$10,322	$16,181	$27,759	$46,044

Source: Ownwell

Find your City

Bronx

New York