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Property tax

If you own your home or a piece of land within New York State, you are required to pay property taxes. Property tax is a tax paid on real property owned. Real property is defined as land and any permanent structures attached to it. 

Property tax is based on the assessed value of the real property. Generally, the assessed value of your home is the value of your real property as determined by your local government officials. It is typically based on the market value of the real property.

Property taxes are assessed and paid at the town or city level. Many areas also impose school taxes which are similarly based on your property's assessed value. 

Property tax relief

Many homeowners qualify for property tax relief in the form of credits or other initiatives. 

School Tax Relief (STAR) credit

The STAR credit provides millions of homeowners with hundreds of dollars in savings each year. To be eligible, your home must be your primary residence, and the combined income of the owners and the owners’ spouses is $500,000 or less. 

Seniors may be eligible for the Enhanced STAR credit if their household income is below $92,000.

Property tax exemptions

You may also qualify for additional property tax exemptions offered by your municipality, county, or school district. Exemptions are generally available for senior citizens, veterans, and for persons with disabilities.

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