Property Tax in New York County
via TaxByCounty
Manhattan's exceptionally low effective tax rate
New York County's (Manhattan's) effective tax rate of 0.902% is among the lowest in the entire nation, far below the national median of 2.1% and positioning it in the bottom 5% of all American counties. Yet the typical homeowner pays $10,001 annually—nearly four times the national median of $2,690—because the median home value of $1,108,900 is extraordinary.
New York's lowest rate on the nation's priciest homes
New York County's 0.902% rate is by far the lowest in New York State, well below the state average of 2.046%. The median tax bill of $10,001 exceeds the state average of $4,709 more than twofold, entirely due to Manhattan's median home value of $1,108,900—the highest of any county examined.
Lowest rate in the state; highest prices in the nation
New York County's 0.902% rate beats every other county in New York by a wide margin, even Nassau County (1.518%). However, its $10,001 median tax bill matches Nassau's exactly, because New York County's homes cost 68% more, offsetting its substantially lower rate.
What a typical Manhattan home costs to own
On New York County's median home value of $1,108,900, you'll pay roughly $10,001 in annual property taxes at the current effective rate. This reflects Manhattan's status as the global center of wealth, where even low tax rates applied to extraordinary property values yield substantial absolute tax bills.
You may be overassessed—here's what to do
Across New York, many homeowners discover their assessed values exceed fair market value, opening the door to successful tax appeals. If you believe your Manhattan property is overvalued relative to recent comparable sales, filing a grievance during the assessment review period could provide meaningful relief on your substantial annual bill.