Calculating Your Property Taxes

NYC property owners receive a property tax bill from the Department of Finance a few times a year. This section will help you understand how your property is valued and how those values are used to calculate your property taxes. For more information download the Class 1 and Class 2 property tax guides.

How we calculate your Property Tax Bill:

  1. Determining Market Value
  2. Determining Assessed Value
  3. Determining Transitional Assessed Value (Tax Class 2, 3 and 4 only)
  4. Apply Exemptions

Learn how we calculate your property tax bill in the
Class 1 and Class 2 property tax guides.

Property Tax Guide for Class 1 Properties

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Property Tax Guide for Class 2 Properties

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Learn how to calculate your own property tax bill