NYC Property Tax-Coop,Comm,Utl

This is a map of the relative property tax assessment for Coops, Commercial, and Utilities in NYC.

This includes your gross tax bill amount when you zoom in to the block level.

See http://timingblog.brooklynmarathon.com/2016/04/see-your-property-tax-bill-relative-to.html (blog) and http://bit.ly/nyctaxclass234 for a web version.

Blue = Low (e.g, < 20 percent),
Green = Medium (e.g., 20 to 40 percent),
Red = High (e.g., > 40 percent).

What is Assessed Value?
This is a number that NYC Department of Finance assigns to your property in order to tax you.

What is Market Value?
This is the amount that NYC Department of Finance assigns to your property see https://www1.nyc.gov/assets/finance/downloads/pdf/brochures/class_2_guide.pdf for an explanation. It is usually NOT what your property will sell for approximately. Also see https://www1.nyc.gov/site/finance/taxes/property-determining-your-market-value.page

What is Assessment Ratio?
This is your assessed value divided by your market value.
Please note that for class 2,3,4 property the assessment ratio target is 45 percent but thanks to real estate law https://www.nysenate.gov/legislation/laws/RPT/1805 the assessment cannot change by more than 8 percent per year and 30 percent per 5 year period

Why does this matter to me?
The truth is each property is taxed at a rate based on it's history. This seems to be organized to have to new development pay more and the older unimproved properties pay less.