Tax Rate for 4Fam vs 5Fam?
The taxes on a 5 family are insane! How much, if any, difference will reducing it to a 4 family make in the tax bill? Or is it calculated strictly by square footage? Anyone knowledgeable in this area please share. Is there any place to see a table of tax rates for each type of…
The taxes on a 5 family are insane! How much, if any, difference will reducing it to a 4 family make in the tax bill? Or is it calculated strictly by square footage? Anyone knowledgeable in this area please share. Is there any place to see a table of tax rates for each type of property? Thanks!
BTW, I believe a 5-unit building falls in Class 2A (4-6 unit residential building),
with a tax rate of slightly more than 13%. The rates have increased recently. Check your most recent statement of account; it will specify.
Property taxes are based on assessment and class (and sometimes mitigated through certain exemptions). Maybe some of the info you’re looking for here (and on sublinks): http://www.nyc.gov/html/dof/html/property/property.shtml
http://www.nyc.gov/html/dof/html/property/property_rates_rates.shtml