You can apply for benefits that can help you save on your property tax bill.
New York City and New York State offer homeowners property tax relief in the form of exemptions, abatements, and credits. Eligibility criteria for each program is different. You may qualify to receive more than one benefit.
Exemptions
Your property’s assessed value is one of the factors used to calculate how much property tax you owe each year. Exemptions reduce your property’s assessed value before the dollar amount of taxes owed is calculated. This reduced value, when multiplied by the tax rate, lowers the amount of taxes that you owe.
The Annual Notice of Property Value (NOPV) you receive in January lists the exemptions you are granted for the upcoming tax year and will see on your bill.
Abatements
Abatements reduce your taxes after they've been calculated by applying credits to the dollar amount of taxes owed. Abatements aren’t listed on the Annual Notice of Property Value (NOPV), but any granted abatements will appear on your property tax bill. If you own a condo or are a co-op shareholder, your managing agent or board of directors will receive a tax benefit breakdown report that will reflect your abatement amount.
Credits
Creditsmay be applied to your taxes or be given to you as arefund check.
The Clergy Exemption reduces your property's assessed value by up to a maximum of $1,500 a year.
You may qualify for the Clergy Exemption if you own a 1-, 2-, or 3-family home or condominium and are an active, disabled-unable to perform such work due illness or impairment, retired clergy member- over age 70, or a deceased clergy member’s unremarried spouse.
To keep receiving the benefit, you must file a renewal application every year.
Visit theClergy Property Tax Exemptionpage to learn how to apply.
Property owners and developers may be eligible for tax incentives if they:
- Build new residential properties
- Renovate existing properties to create residential units
- Make certain enhancements or improvements to residential properties
Programs include:
- 421a Exemption
- Green Roof Abatement
- J-51 Program
- Major Capital Improvement (MCI) Abatement
Visit theResidential Construction Tax Benefit Programspage to learn how to apply.
Co-op and condo unit owners are eligible for a property tax abatement. Building management, boards of directors, or other official representatives must apply for the co-op or condo abatement on behalf of the eligible building units.
To be eligible, the unit must be your primary residence.
Visit theCo-op and Condo Property Tax Abatementpage to learn how to apply.
The Crime Victim or Good Samaritan Exemption provides property tax relief to crime victims who have a disability because they were victims of a crime or were trying to prevent a crime.
To be eligible, the home must have been modified to accommodate the owner's special needs due to the disability.
This exemption doesn't need to be renewed.
Visit theCrime Victim Property Tax Exemptionpage to learn how to apply.
The Disabled Homeowners’ Exemption (DHE) provides a reduction of 5 to 50% on New York City's real property tax to low-income homeowners with disabilities.
To be eligible for DHE, you must have a disability, earn no more than $58,399 for the last calendar year, and the property must be your primary residence.
You must renew every year to continue to receive the benefit.
Visit theDisabled Homeowners' Exemption (DHE)page to learn how to apply.
Homeowners may be eligible for a School Tax Relief (STAR) credit or exemption.
The STAR Credit is offered by New York State in the form of a rebate check. The STAR Exemption is offered by New York City andappears on your property tax bill. You can’t receive both at the same time.
New STAR applicants must apply for the benefit with the State.
You are considered a new STAR applicant if you:
- Didn't own your property on March 15, 2015, or
- Didn't have Basic or Enhanced STAR for tax year 2015/2016, or
- Removed the STAR Exemption from your property so you can receive STAR as a credit instead, or
If you received the NYC STAR Exemption in the 2015/2016 tax year or earlier and later lost it and have a total household income of $250,000 or less, you can choose to either apply to restore your benefit with the City or apply for the STAR Credit with NY State. If you have a total household income more than $250,000, you can only apply for the STAR Credit. If you are receiving the STAR Exemption but your income goes over $250,000, you must apply for the STAR Credit.
The STAR Credit may offer a greater benefit than the STAR Exemption because the amount of the credit will increase in the future, but the value of the exemption will not.
Visit theSchool Tax Relief for Homeowners (STAR)page to learn more.
The Senior Citizen Homeowners' Exemption (SCHE) provides a reduction of 5 to 50% on New York City's real property tax to seniors age 65 and older.
To be eligible for SCHE, you must be 65 or older, earn no more than $58,399 for the last calendar year, and the property must be your primary residence.
The exemption must be renewed every two years.
Visit theSenior Citizen Homeowners' Exemption (SCHE)page to learn how to apply.
The Veterans Exemption helps veterans and their family members reduce their property taxes.
To be eligible, the property must be your primary residence and you must be:
- A veteran who served during one of the Qualified Service periods of war or conflict
- The spouse of a qualified veteran
- The surviving spouse of a qualified veteran who has not remarried
- A Gold Star parent (the parent of a child who died in the line of duty while serving during one of the Qualified Service periods)
Visit the Veterans Property Tax Exemption page to learn how to apply.
The NYC Residential Property Taxes booklet provides information for homeowners about:
- How to pay your property tax bill
- How property values are determined and how you can dispute your property's value
- Exemption benefits and requirements
- The difference between exemptions and abatements
- The terms used on property tax bills and Notices of Property Value (NOPV)
- How the City spends its tax dollars
You can download the guide online or request a paper copyby mail.
Tax Class 1
This guide is for 1- to 3-family homes.
Online
Download the property tax guide for Class 1.
Download the property tax guide for Class 1 in Arabic, Bengali, Chinese, French, Haitian Creole, Korean, Polish, Russian,Spanish, or Urdu.
By Mail
Call 311 or 212-NEW-YORK (212-639-9675) to request a copy.
Tax Class 2
This guide is for residential properties with more than 3 units, including cooperatives and condominiums.
Online
Download the property tax guide for Class 2.
Download the property tax guide for Class 2 in Chinese, Korean, Russian, or Spanish.
By Mail
Call 311 or 212-NEW-YORK (212-639-9675) to request a copy.
