NYC Property Taxes

Your guide to the NYC real estate market

A Comprehensive Guide to NYC Real Estate Taxes

New Yorkers are among the most highly taxed people in America. Most already know that NYC is one of only a handful of cities to have an income tax, but what about real estate taxes in New York City? Well, if you're a property owner in the city, your tax burden is even greater. And to make matters worse, real estate taxes are only going up and increasing in number.

Our Guide to the NY State and NYC Transfer Tax

How much is the NY State and NYC Transfer Tax, who pays it, and how can you save money on these taxes and other closing costs? Read on to find out.

A look at the Byzantine NYC Property Tax System

It’s no secret that people who purchase property are often concerned with the and amount of property tax payments they will have to make, and NYC owners are no exception. We're taking a look at how rates are assessed and why some uber-luxury condos and co-ops receive tax bills that seem far too low.

New York state and NYC Mansion Tax in 2020

Learn everything you need to know about the New York state and NYC mansion tax, from their history to the newly implemented progressive mansion tax in New York City, with rates as high as 3.9% for properties priced over $25 million.

Flip Tax in NYC

NYC flip taxes, also known as transfer fees, were first implemented in the 1970s and 1980s as a way to generate capital for co-op buildings so that they could invest in major capital improvements without increasing maintenance fees for their shareholders (something no shareholder enjoys). Today, a the flip tax still generates substantial incomes for buildings, as well as discouraging buyers & investors from buying and selling co-op apartments with the intentions of making a quick profit, especially with HDFC apartments.

A Guide to the NYC 421-a Tax Abatement

While searching for a co-op or condo in New York City, you may have come across listings that include what is called a 421-a tax abatement. This tax exemption was originally put in place to encourage property developers to build new residential real estate in NYC. In recent years however the 421-a tax abatement has been revived with a focus on affordable housing.