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County tax profile · 2026 · Census ACS + IRS data

Property Tax & Income in New York County, New York

New York County has an effective property tax rate of 0.92%. On the median home value of $1,090,500, that's roughly $10,001 per year. Median household income is $103,931.

Effective Property Tax Rate1
0.92%
median tax $10,001 ÷ median home $1,090,500
Median Home Value1
$1,090,500
owner-occupied
Median Household Income1
$103,931
per-capita $95,980
Est. Annual Tax on Median Home1
$10,001
at 0.92% effective rate

What you'll pay, at a glance

Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.

MetricNew York CountyNew York (state context)
Effective property tax rate10.92%2.04%
Median home value1$1,090,500—
State income tax3top rate 10.90%top rate 10.90%
State sales tax38.54% combined8.54% combined

How this is calculated

The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.

About New York County, NY

Buying in New York County, which covers Manhattan, means confronting a median home value of $1,090,500 — one of the steepest price tags anywhere. The offset comes on the tax side: the effective property tax rate sits at 0.917%, well under New York State's 2.040% median and ranking 60th of 62 counties statewide. That lower rate yields a median annual real-estate tax bill of $10,001, while the national effective rate is 0.794%. Households here earn a median of $103,931, with per-capita income at $95,980. Affordability hinges on the balance: taxes are comparatively gentle against the state, but the purchase price dominates the equation, and carrying costs on a seven-figure home will stretch most budgets regardless of the rate.

Frequently asked questions

What is the property tax rate in New York County, NY?
The effective rate is 0.92% — meaning the median tax bill equals about 0.92% of the median home value.
How much are property taxes on a median home?
On the median home ($1,090,500), the estimated annual bill is about $10,001.
Is New York County's rate high or low?
Compare it to the state median of 2.04% and the national average near 1.1%.
How does the effective rate differ from my mill rate?
A mill rate is the nominal levy per $1,000 of assessed value. The effective rate reflects what you actually pay after exemptions and assessments — it's the median tax bill as a share of median home value, so it better predicts your real cost.
Will a reassessment raise my tax bill?
Not necessarily. If your home's assessed value rises, your bill can go up, but only if the mill rate and exemptions stay flat. Contact the New York County assessor's office to review your current assessment.
Can I appeal my property tax assessment?
Yes. Most counties allow an appeal when you believe the assessed value exceeds the market value. File with the New York County assessor within the local deadline, typically with comparable sales as evidence.
Sources
[1] U.S. Census Bureau — ACS 5-Year (2023) — Median home value (B25077), median real-estate taxes (B25103), median household income (B19013), per-capita income (B19301).
[2] IRS — Statistics of Income — County income, AGI, and real-estate taxes paid.
[3] Tax Foundation — State income, sales, corporate, and estate/inheritance tax rates.