New York City 2016 Real Property Tax Rates
Fiscal Year 2016 Real Property Tax Rates
Last Friday, June 26th, City Council adopted the Mayor’s executive budget for Fiscal Year 2016 (July 1, 2015- June 30, 2016). This year’s property tax levy is 7 percent greater than last year’s levy and 76 percent greater than in Fiscal Year 2006.
As part of the final steps in the budget process, the Council sets the upcoming year’s property tax rates. This year’s rates and the previous ten years’ rates are listed below.
 
source: REBNY Research
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Property tax is assessed against residential and commercial real estate according to each state's tax assessment policies. Property taxes are used to pay for needs within county communities such as law enforcement and firefighter salaries, improvements to existing schools, building of new schools, and road and infrastructure repairs.property tax appeal nj
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