NYC Property Taxes

Your guide to the NYC real estate market

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.

NYC Real Estate Taxes, from the NYS Transfer Tax to the Mansion Tax

New York City Real Estate taxes are notoriously high, and always on the rise. This guide will explore everything from the NYS and NYC transfer tax to the mansion tax.

A Guide to the New York state and NYC Mansion Tax

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.