Residential Property Tax Guides

Information about New York City residential property taxes is available from the Department of Finance in two booklets, one for tax class 1 and another for tax class 2. These booklets explain:

  • How the City spends its tax dollars
  • How property values are determined
  • The requirements for and benefits of exemptions
  • The difference between exemptions and abatements
  • The terms used on NYC property tax bills
  • The different ways that you can pay your property tax bill
  • The terms used on the annual notice of property value (NOPV)
  • What to do if you think your NOPV is wrong
  • Your year in property taxes, month by month

Both of these property tax booklets are also available in Chinese, Korean, Russian, or Spanish.