Jun 28, 2014

2015 NYC Property Tax rates


The City Council adopted real property tax rates for fiscal year 2015, which begins July 1, 2014.  Here are the 2015 tax rates by class.

Tax Rates by Class

Definition FY 2015 FY 2014 Difference
Class 1 All One-, Two-, and Three-Family Residential Real Property 19.157 19.191 -0.034
Class 2 All other Residential Real Property 12.855 13.145 -0.29
Class 3 Utility Real Property 11.125 11.902 -0.777
Class 4 All Other Real Property 10.684 10.323 0.361






Please note that the tax bills issued for the first half of fiscal year 2015 (July 2014 through December 2014) were based on the fiscal year 2014 tax rates.

As a result, your second half tax bill will be based on the recently adopted fiscal year 2015 tax rates and will include an adjustment for any overpayment or underpayment in the first half of the year.

source courtesy: REBNY

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