Most states have regularly scheduled assessments, either yearly or less frequently.

Much of those taxes go to school districts in the county.Ĭurious about how New York property taxes are calculated? Your home is assigned an assessment value by a local official or town assessor. In Erie County, for example, in the northwest portion of the state (where Buffalo is located), the effective property tax rate is 2.65%. Unfortunately, tax rates don’t improve for some of the smaller cities. However, if you move north to the suburbs, your effective tax rate jumps to 1.62% in Westchester County and about 1.73% in Rockland County. Owning in Manhattan will only set you back 0.98%. If you own a home in Brooklyn, which is in Kings County, your effective tax rate is a mere 0.78%.

Surprisingly, tax rates are more affordable in the city than they are in the surrounding suburbs. You might think that buying property in one of the five boroughs of New York will come with a high property tax bill. Overall, the average effective property tax rate in New York is 1.62%. are in Westchester County, which is north of New York City. Some of the highest taxes in the entire U.S. The amount of tax you pay can vary greatly county by county. New York property taxes are as diverse as the occupants in this heavily populated state. Factors in Your New York Mortgage Payment