Late Payments

All property tax bills have a payment due date. If your payment is not received or postmarked by the payment due date, your payment is considered late.

The Department of Finance is required to charge interest on late property taxes. The interest compounds daily, so the later you make your payment, the more interest you will owe.

As a property owner, it is your responsibility to pay your taxes on time, even if you don’t receive a property tax bill. Please make sure that we have your correct address on file so that you receive all your notices and bills. You can update your address here.

Making a Partial Payment

If you cannot pay online, and you mail us a partial payment, you must include the coupon that was included with your property tax bill. You can also print out your property tax bill with coupon from our website.

If you cannot send us your coupon, be sure to write the property’s borough, Block, and Lot (BBL) number on the front of your check.

Interest Rates for Late Payments of Property Tax

Interest rates are set annually by local law. The interest rate for a late payment depends on the assessed value of the property.

Please note that for tax class two properties of more than 10 units and all class four properties, interest is charged based on the property’s “actual assessed value.” Annual assessed value changes for such properties are phased in over a five-year period to generate a property's "transitional assessed value," which is used as part of the computation of the property's taxable value. The actual assessed value is defined as the property’s assessed value before the phasing in of any changes or the application of any exemptions. To view your property’s actual assessed value, visit www.nyc.gov/nycproperty.

  • Interest Rates:

Annual Interest Rate

Assessed Value of Property

Effective Dates

3% Less than $250,000 July 1, 2021 through June 30, 2022
6% Between $250,000 and $450,000 July 1, 2021 through June 30, 2022
13% Greater than $450,000 July 1, 2021 through June 30, 2022
  • The sidewalk repair interest rate varies. For properties with an assessed value of more than $250,000, and for all vacant land, the annual interest rate on sidewalk repair charges is 18%. For all other properties, the annual interest rate on sidewalk repair charges is the lesser of 8.5% or the City’s cost of servicing the debt.