New York City DOF Finalizes 2016-17 Real Estate Tax Rates

The city’s Department of Finance (DOF) recently 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 (properties with more than three units) is up slightly, while the rate for Class 4 nonresidential properties (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:

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