NYC Property Tax Rates Decreased for FY 2022

Mayor de Blasio and the New York City Council agreed on and enacted the Fiscal Year 2022 (FY22) New York City budget, totaling $98.7 billion. This budget comes amidst New York's emerging recovery from the COVID-19 pandemic and includes significant federal investment to help support and shape our recovery.  Property Tax Rates for FY22 A key part of the budget for the real estate industry is the establishment of new property tax rates. Tax rates decreased across all classes except Class 4. The new tax rates for FY22, which go into effect July 2021, are as follows: