Average property tax in Manhattan (2025–2026)
The median one- to three-family home in Manhattan pays about $30,653 a year in property tax — an effective rate of roughly 0.59% of its market value, computed from the city’s current assessment roll.
Property tax rates are set citywide, so Manhattan uses the same class rates as the rest of New York City — what differs is assessed values. For fiscal year 2026 the rates are 19.8433% for Class 1 homes and 12.439% for Class 2 (condos, co-ops, and larger residential buildings), applied to a taxable value far below market price — 6% of market value for Class 1, with strict growth caps.
What a typical Manhattan home actually pays
Computed directly from the city’s current assessment roll (13,095 Class 1 tax lots in Manhattan):
| Median annual property tax (Class 1 homes) | $30,653 |
| Median DOF market value | $5,163,000 |
| Effective tax rate on market value | 0.59% |
Medians computed from NYC Open Data assessment records; individual bills vary with exemptions and abatements.
Look up any Manhattan address
Get the actual tax bill, assessed value, exemptions, and building record for a specific property:
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Or estimate a full monthly payment — taxes included automatically — with the mortgage calculator, or a yearly bill from any market value with the property tax calculator. For how the system works, see the complete guide to NYC tax rates.