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New York Property Tax

New York Property Tax is a source of revenue generation for local governments in the state of New York. The money collected as New York State Property Tax is used for the upkeep of various public utilities and welfare services. Schools, police protection, fire protection, roads and several similar sorts of services are maintained with the money you pay as NY Property Tax to your county, city, town, village etc. Moreover, it is only real property tax that you are paying in the state of New York, because there is no personal property tax here.

New York Property Tax Rate

There are two things that go into the determination of real estate taxes in New York. The taxable assessment of your real property and the Property Tax Rate. The tax rate may be different for each taxing jurisdictions within the state and is usually determined by the local taxing authorities. Moreover, the New York Property Tax Rate for a jurisdiction is directly proportional to the public expenditure made by the local government in that area. On the other hand, the assessment of real property is performed by a local assessor according to the New York Property Tax Law.

All real property in the state of New York is assessed. Houses, vacant land, gas stations, farms, office buildings, apartments, restaurants, factories, shopping centers and even mobile homes, in most instances, are assessed.

NY Property Tax Records

In fact, New York Property Tax Records are maintained for all assessed real property in the state. However, not all real property is taxed. There are properties, such as government owned or religious property, which are kept out of taxation. Similarly, there are certain categories of homeowners or renters who are provided with partial property tax exemptions under various property tax relief programs. New York State's School Tax Relief (STAR) Program is one such tax relief program, which also includes Basic STAR Property Tax Exemption, Enhanced STAR Property Tax Exemption and Middle Class STAR Rebate Program. These programs aim at providing tax exemption or property tax rebate to qualified homeowners in the state of New York. To know more about Property Tax in NYS, visit the official site of New York State Government.


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