Guides / Property Taxes / New York

Property Taxes in New York

Effective Rate

Statewide average effective rate of about 1.55% (6th-highest nationally), but this varies enormously: Nassau County runs about 2.0%, Westchester about 1.9%, Rockland about 2.1% — while New York City itself is only about 0.88% effective, due to its separate assessment system.

Example: Roughly $6,582/year on the statewide median home value of about $423,800.

Exemptions

Basic STAR
Amount: $30,000 reduction in school-taxable value
Available to homeowners with income up to $500,000.
Enhanced STAR
Amount: Approximately $88,050 reduction in school-taxable value for 2026 (indexed annually)
For homeowners age 65+ with income up to $98,700 (2026 limit). New applicants receive a credit check rather than a direct exemption.

New York City's much lower effective rate reflects a different assessment methodology than the rest of the state — don't apply upstate or Long Island rate expectations to an NYC purchase.

Facts on this page reflect research current as of 2026-07-05. Programs, rates, and laws change — confirm current figures with the relevant state agency before relying on them.

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