News & Noteworthy



Announcement: New York City Releases 2013-2014 Real Estate Tax Rates
Residential (Coops and Condos) Rates Decline, Commercial Rates Increase -- Ever So Slightly.
NOVEMBER 18, 2013

The City of New York has released the new real estate tax rates for 2013-14, which are effective as of July 1, 2013 and will expire on June 30, 2014.

The average new 2013-14 rates are as follows:

  • Class 1 - 1 to 3 family residential - 19.191%
  • Class 2 - 4 or more families, co-ops, condos - 13.145%
  • Class 3 - utility - 11.902%
  • Class 4 - nonresidential - 10.323%

The new rates were not in place for the July 1, 2013 tax bill. Adjustments will be made to subsequent tax bills to reflect the changes. The adjusted tax rates are to be applied for the second half of the tax year (2013-14), beginning with the tax bill due January 1, 2014, as follows:

  • Class 1 - 1 to 3 family residential - 19.813%
  • Class 2 - 4 or more families, co-ops, condos - 13.109%
  • Class 3 - utility - 11.327%
  • Class 4 - nonresidential - 10.358%

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