The rate in context
On a $400,000 home, 1.30% means roughly $5,200 per year in property tax, escrowed monthly, so it lands directly in your payment and your debt-to-income ratio.
Exemptions and notes
A 2% annual cap applies to local tax levy growth; STAR gives homeowners a school-tax exemption or credit. New York City uses a separate fractional assessment system.
Sources: Tax Foundation 2026 (2024 ACS); NY Tax Dept. (mansion tax graduated 2019). County-level rates vary; your county page has local detail.
Counties in New York
FAQ
What is the average property tax rate in New York?
The average effective property tax rate in New York is about 1.30%, per Tax Foundation 2026 (2024 ACS); NY Tax Dept. (mansion tax graduated 2019). Individual counties vary above and below that average.
How do New York property taxes affect my mortgage?
Taxes are escrowed into your monthly payment, so a higher rate directly reduces how much house you qualify for. A 2% annual cap applies to local tax levy growth; STAR gives homeowners a school-tax exemption or credit. New York City uses a separate fractional assessment system.