Market Value (NYC Assessment Context)
NYC DOF defines market value as the Department's estimate of a property's worth used for assessment purposes, with valuation methods tied to tax class. DOF explains that income_toggle rules apply for certain classes, while Class 1 relies heavily on comparable sales modeling.
- Where it applies
- New York City
- When it comes up
- Annual assessment; underwriting and appeals
- Property types
- NYC assets (all classes)
Read more in the Knowledge Base
Property Tax and Assessment (NYC)
- (ORPTS)
- Assessed Value (NYC)
- Assessment Ratio (Level of Assessment)
- Equalization Rate
- Notice of Property Value (NOPV)
- Tax Class (NYC)
- Taxable Value (NYC)
- Transitional Assessed Value
General information, not legal, tax or financial advice.