Property Tax Rates FY 2019

The City of New York has approved the final property tax rates for Fiscal Year 2019 (July 1st, 2018 – June 30th, 2019.)  The tax rates for Class 2 properties (four or more family dwellings, co-ops, condos) and Class 3 properties (utility property) decreased compared to last year’s rates, Class 4 properties’ rates (commercial) were unchanged from last year, and Class 1 properties’ rates (one-to-three family dwellings) increased year-over-year.  This year’s and last year’s rates are listed below.

Property Class

FY 19 Tax Rate

 

FY 18 Tax Rate

Class 1 (1-3 Family Dwellings)

20.919%

 

20.385%

Class 2 (4+ Family Dwellings, Coops, and Condos)

12.612%

 

12.719%

Class 3 (Utility)

12.093%

 

11.891%

Class 4 (Commecial)

10.514%

 

10.514%