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:
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