New York

What You Need to Know About Property Taxes in New York

New York does not have a uniform state property tax.
Property taxes are levied locally by counties, cities, towns, villages, school districts, and special-purpose districts.
The New York State Department of Taxation and Finance provides oversight and equalization but does not directly collect property tax.

New York’s average effective property tax rate is around 1.7% – 2.5%, varying widely by region.

Upstate counties often have higher effective rates (2%–3%).
Downstate areas, especially New York City, have lower effective rates due to different assessment systems.

Most property tax revenue funds public education, local governments, and essential services.

Property taxes = (Assessed Value × Tax Rate) – Exemptions.
Assessed Value is determined by the local assessor, who estimates the property’s market value.
Local governments and school districts each set their own tax rates annually.
The state equalization rate is used to ensure fairness across municipalities with differing assessment ratios.

STAR (School Tax Relief) Program:
- Basic STAR: For owner-occupied primary residences with income under $250,000.
- Enhanced STAR: For senior homeowners (65+) with income under an annual limit (~$98,700 in 2025).
Senior Citizens Exemption: Reduces assessed value for homeowners 65+ with limited income.
Veterans’ Exemption: Reduces assessed value for eligible veterans and surviving spouses.
Disability & Limited Income Exemption: For homeowners with disabilities and limited income.
Agricultural and Forest Exemptions: For qualifying farmland or managed forestland.

March 1: Taxable status date – property ownership and exemptions determined.
May–July: Assessment rolls finalized (varies by municipality).
July 1: Start of most local tax fiscal years.
Late Summer/Fall: Tax bills mailed (varies by county and municipality).
September–January: Payment deadlines (exact dates depend on locality).

If you believe your assessment is too high, you can file a grievance with your local Board of Assessment Review (BAR).
The grievance period usually begins May 1 and ends on or around the 4th Tuesday in May, depending on the locality.
If unsatisfied, you can appeal to the Small Claims Assessment Review (SCAR) or the State Supreme Court.
Many homeowners work with professionals like Icon Property Tax to help manage appeals and maximize savings.

Payment due dates vary by municipality, but late payments typically incur interest and penalties that increase monthly.
Some counties allow installment payments, while others require full payment at once.
Escrow accounts managed by mortgage lenders often handle property tax payments automatically for homeowners with active loans.

Assessments are done annually in most jurisdictions, though some reassess less frequently.
Staying informed about when your locality reassesses is crucial, as large valuation jumps can impact your taxes significantly.

Search your property to view assessment details, STAR eligibility, and potential tax-saving opportunities.