Go to https://docs.google.com/spreadsheet/ccc?key=0AgXQyWhKLhmBdFFVUDJFMG9DVlFNVXlfdTNHV0UxSHc&usp=sharing for details.
You can see that tax class 3 has a declining tax rate in 2014
Tax Class: Property in NYC is divided into 4 classes:
Class 1: Most residential property of up to three units (family homes and small stores or offices with one or two apartments attached), and most condominiums that are not more than three stories.
Class 2: All other property that is not in Class 1 and is primarily residential (rentals, cooperatives and condominiums). Class 2 includes:
Sub-Class 2a (4 – 6 unit rental building)
Sub-Class 2b (7 – 10 unit rental building)
Sub-Class 2c (2 – 10 unit cooperative or condominium)
Class 2 (11 units or more).
Class 3: Most utility property.
Class 4: All commercial and industrial properties, such as office, retail, factory buildings and all other properties not included in tax classes 1, 2 or 3.