NYC Effective Tax Rates

In 3 Things Owners and Renters Should Know About New York City Property Taxes, the Citizens Budget Commission (CBC) explains why New York City property owners may face effective tax rates, or taxes paid as a percent of market value, that vary widely – even if they own the same type of property.

In this supplemental feature, the CBC presents five charts that document how wide—and inequitable—that disparity can be. Each chart shows the share of properties with a given effective tax rates for each type of property: small homes, coops and condos, small rental buildings with 10 or fewer units, large rental buildings, and commercial properties. 

Effective tax rate distribution,  NYC small homeowners (class 1)

Effective tax rate distribution, NYC coops and condos (class 2)

Effective tax rate distribution, NYC small rental property

Effective tax rate distribution, NYC large rental buildings

Effective tax rate distribution, NYC commercial property