Kings (Brooklyn) County, NY — Property Tax Underwriting Guide
New York · Cyclical hold until revaluation
What this means for multifamily underwriting
Brooklyn (Kings County) is NYC's most active multifamily market. The income-cap model means even large rent-stabilized portfolios have assessed values well below market — a structural advantage for acquirers.
Transaction type breakdown
NYC does not reassess on sale. Class 2 (4+ unit multifamily) value is set annually via income capitalization, not the purchase price.
Refinance has no effect on NYC Class 2 assessed value.
Entity-level transfers and ownership changes do not trigger reassessment.
Tax appeal information
Effective rate placeholder of 1.5% of market value; rent-stabilized buildings may have especially depressed AV relative to market. Verify at nyc.gov/finance.
Guide review
County guidance last reviewed: June 15, 2026
Tax-rate scope: County-level underwriting placeholder; not a parcel-specific tax rate.
Official sources: NYC Dept of Finance
Income-cap model and growth caps are firm; 1.5% effective rate is a market-level placeholder.
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Kings (Brooklyn) County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Kings (Brooklyn) County deal.