New York City's residential property tax rate for Class 1 homes is relatively low by national standards, but premium prices across most boroughs produce some of the highest total monthly payments in the country. Co-ops and condos carry additional monthly maintenance fees beyond standard mortgage costs.
Recommended for incomes above $200k/yr (28% DTI rule)
New York City housing market
The 0.9% property tax rate reflects the county-level effective rate for New York City and is used to calculate your monthly tax escrow above. This rate may differ from the statewide New York average — county-level data produces more accurate monthly payment estimates for New York City buyers. Many New York City properties also carry HOA fees — the area average is approximately $800/month, which is not included in the calculator above.
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