United States:
New York City Finalizes 2016/17 Real Estate Tax Rates
05 December 2016
Stroock & Stroock & Lavan LLP
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The City of New York has finalized the real estate tax rates for
tax year 2016/17, which began July 1, 2016 and will end June 30,
2017. The rate for Class 2 residential properties is up slightly,
while the rate for Class 4 non-residential properties
(i.e., commercial) is down slightly from last year.
The following is a comparison of the annualized tax rates for
tax years 2015/16 and 2016/17:
The new tax rates were not in place for the July 1, 2016 tax
bill. Adjustments will be made to subsequent tax bills to reflect
the changes. The tax rates to be applied for the second half of tax
year 2016/17 are as follows, beginning with the tax bill due
January 1, 2017:
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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