New York Property Tax Calculator 2026 — Annual & Monthly
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
New York's effective property tax rate is 1.40% — near the national average. On the New York median home value of $485,000, you'd pay $6,790/year ($566/month) in property taxes.
New York Housing & Mortgage Data
| Median Home Price | $485,000 |
| 30-Year Fixed Rate | 6.95%(State average, Apr 2026) |
| Property Tax Rate | 1.40%(Effective rate) |
| Avg HO Insurance | $1,700/yr ($142/mo) |
| Typical Down Payment | 12% ($58,200) |
| Median Household Income | $74,000/yr |
Key Facts for New York
- ✓New York median home price is $485,000 as of 2026
- ✓30-year fixed mortgage rates in New York average 6.95%
- ✓Property taxes in New York are 1.40% — near the national average of 1.10%
- ✓Homeowners insurance averages $1,700/year in New York
- ✓A household earning $121,250/year can typically afford the median New York home
More New York Calculators
Frequently Asked Questions — Property Tax Calculator in New York
- How is property tax calculated in New York?
- New York property taxes are calculated by multiplying your home's assessed value by the effective tax rate of 1.40%. On a $485,000 home, the annual bill is approximately $6,790. Assessed value may differ from market value depending on your county's assessment ratio.
- Can I appeal my property tax assessment in New York?
- Yes. New York homeowners can appeal their assessed value if they believe it is higher than market value. Contact your county assessor's office within the appeal window (typically 30–90 days after the assessment notice). Provide comparable sales data for similar homes in your neighborhood.
- What is the average mortgage payment in New York?
- The average monthly mortgage payment (principal + interest) in New York is approximately $2,825 for a $426,800 loan at 6.95% over 30 years. Adding property tax ($566/mo) and homeowners insurance ($142/mo) brings total PITI to about $3,533/month.
- What credit score do I need for a mortgage in New York?
- Most New York lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in New York, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $64,020 over the life of a 30-year loan.
- How much down payment is required to buy a home in New York?
- You can buy a home in New York with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the New York median home price of $485,000, a 20% down payment is $97,000 and lets you avoid PMI. New York also has state-level down payment assistance programs for first-time buyers.
- What are current mortgage rates in New York?
- Current 30-year fixed mortgage rates in New York average 6.95% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best New York mortgage rate.
- What is the property tax rate in New York?
- New York's effective property tax rate is 1.40%. On the New York median home value of $485,000, annual property taxes are approximately $6,790 ($566/month). Property taxes in New York are typically escrowed in your monthly mortgage payment.