Assessment Ratio (Level of Assessment)
NYC DOF states the assessment ratio is 6% for Tax Class 1 and 45% for Tax Classes 2, 3, and 4. This percentage is applied to market value, subject to caps and phase-in mechanics.
- Where it applies
- New York City
- When it comes up
- Annual assessment; underwriting
- Property types
- NYC assets
Property Tax and Assessment (NYC)
- (ORPTS)
- Assessed Value (NYC)
- Equalization Rate
- Market Value (NYC Assessment Context)
- Notice of Property Value (NOPV)
- Tax Class (NYC)
- Taxable Value (NYC)
- Transitional Assessed Value
General information, not legal, tax or financial advice.