Monday, December 1, 2014

New York City Class 1 Average Property Tax Payment by Zipcode source: NYC DOF Assessment

New York City Class 1 Average Property Tax Payment by Zipcode source: NYC DOF Assessment

2014 New York City Class 1 Tax Burden
See interactive map

Based on the  New York City Department of Finance Assessment Data this study focuses on Class 1 property (Residential Properties for less than 4 families)

The red areas pay $8000 or more in property tax.  The blue areas pay $2100.  

A companion map that shows assessment ratio can be seen here: http://timingblog.brooklynmarathon.com/2014/05/2014-new-york-city-class-1-property-tax.html and details here http://timingblog.brooklynmarathon.com/2014/07/a-modest-proposal-for-new-york-city.html

These two maps show the areas that are paying relatively low property tax vs. relatively high property tax.

The Assessment Ratio map shows the areas that are assessed below 6% and these areas will slowly rise to 6% over many decades due to current tax law
Tax Assessment Ratio map
Points of interests are:


  • Manhattan Class 1 property owners are paying on average up to $80K in property tax, but the assessment ratio is low so it will continue to rise very slowly over the next decades. 
  • The Park Slope area of Brooklyn's Class 1 property owners are paying very low property tax in real dollars on average relative to almost every other area and also have a very low assessment value and assessment ratio.  This is unique to Park Slope and the immediate surrounding area.
  • It is interesting to note that residents that are badly affected by plane noise nearby LaGuardia airport and JFK airport such as Whitestone Queens and parts of Rockaway Queens pay a large tax burden on average and also have a very high assessment ratio
To make it easier to see the tax burden vs. assessment ratio we allow you to see them on a similar map and style here:
  • Class 1 Tax Payment Property: map link
  • Class 1 Tax Assessment Ratio Property: map link
2014 New York City Class 1 Tax Burden
2014 New York City Class 1 Tax Assessment Ratio

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