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How Much is Property Tax on a $700,000 Home in New York?
Property tax on a $700,000 home in New York typically ranges from $6,300 to $18,900 per year (roughly $525 to $1,575/month), depending on the county. Based on the statewide average effective rate of 1.73%, you can expect to pay around $12,110/year, or $1,009/month. New York has high effective property tax rates, particularly in the New York City suburbs; New York City itself uses a complex system of fractional assessments that often produces lower rates for residential property.