New York · 13 counties covered
New York Multifamily Property Tax Underwriting Guide
New York's property tax system varies dramatically by jurisdiction. NYC Class 2 multifamily uses income capitalization and does not reset on sale. Suburban counties like Nassau and Suffolk have among the highest effective rates in the US. Upstate markets assess annually at varying percentages of market value.
Counties with coverage
Albany County
Annual reviewAnnual market review
Annual assessment; City of Albany and surrounding towns assess independently
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Bronx County
LowCyclical hold until revaluation
Annual income-capitalization review; Class 2 AV capped at 8%/yr or 30%/5yr
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Erie County
Annual reviewAnnual market review
Annual assessment; City of Buffalo and surrounding towns assess independently
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Kings (Brooklyn) County
LowCyclical hold until revaluation
Annual income-capitalization review; Class 2 AV capped at 8%/yr or 30%/5yr
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Monroe County
Annual reviewAnnual market review
Annual assessment; City of Rochester and surrounding towns assess independently
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Nassau County
Annual reviewAnnual market review
Annual reassessment; Nassau conducts county-wide reviews annually
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New York (Manhattan) County
LowCyclical hold until revaluation
Annual income-capitalization review; Class 2 AV capped at 8%/yr or 30%/5yr
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Onondaga County
Annual reviewAnnual market review
Annual assessment; City of Syracuse and surrounding towns assess independently
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Queens County
LowCyclical hold until revaluation
Annual income-capitalization review; Class 2 AV capped at 8%/yr or 30%/5yr
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Richmond (Staten Island) County
LowCyclical hold until revaluation
Annual income-capitalization review; Class 2 AV capped at 8%/yr or 30%/5yr
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Rockland County
Annual reviewAnnual market review
Annual assessment; town-level assessors; high combined rates
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Suffolk County
LowCyclical hold until revaluation
Town-level assessment; each of 10 towns sets its own cycle and equalization rate
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Westchester County
Annual reviewAnnual market review
Annual assessment; municipalities assess at varying fractions of full value
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Run a tax reset estimate for New York
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