How to Read and Pay Your NYC Property Tax Bill
Read your NYC property tax bill, know if you pay quarterly or twice a year, hit the July/Oct/Jan/Apr due dates, avoid 6%-16% interest and set up a payment plan.
8 min read · Updated
NYC property tax bills go out about a month before each due date: if your property’s assessed value is $250,000 or less you pay quarterly (July 1, October 1, January 1, April 1), and if it is higher you pay twice a year (July 1 and January 1). Quarterly payers have until the 15th of the month to pay without interest; after that, interest of 6% to 16% a year, compounded daily, runs from the original due date.
Here is what the bill shows, which schedule you’re on, every way to pay, and what to do if you’ve fallen behind.
At a glance
- Tax year
- July 1 to June 30
- Fiscal year 2027 runs July 1, 2026 to June 30, 2027
- Quarterly billing
- Assessed value ≤ $250,000
- Due Jul 1, Oct 1, Jan 1, Apr 1
- Semiannual billing
- Assessed value > $250,000
- Due Jul 1 and Jan 1
- Grace period
- To the 15th (quarterly payers)
- Late = interest from the 1st
- Late interest 2026-27
- 6% / 9% / 16%
- By assessed value, compounded daily
- No bill?
- You still owe it
- Escrowed bills go to your servicer
What’s on the bill
The Department of Finance (DOF) mails bills and posts them online about a month before taxes are due. You can download current and past bills from DOF’s “View property tax bills and notices” link. DOF says each bill shows:
- Current and past-due property tax charges for the period.
- Exemptions and abatements you receive, such as STAR, SCHE, DHE, veterans or the co-op/condo abatement. If one you expect is missing, act now. See the exemptions finder.
- Overpayments and credits on the account.
- The early-payment discount available if you prepay.
- Other property-related charges DOF collects for other agencies.
- General information on how your tax was calculated: market value, assessed value, taxable value and tax rate. The method is explained in NYC property tax explained.
Find the borough-block-lot (BBL) number on the bill. It identifies your property for every payment, dispute and record search (see BBL and BIN explained).
Other agency charges
DOF collects some charges for other agencies, and it can’t change them. If you disagree with one, contact the agency that imposed it:
| Charge | Agency |
|---|---|
| Emergency repairs, heat/hot water violations, AEP charges, registration fees | HPD |
| Boiler, elevator, plumbing, sign and public assembly fees | Department of Buildings |
| Sidewalk installation and repair (current program) | Department of Design and Construction |
| Water liens, sewer connection, frontage and meter charges | DEP |
| Cleaning, extermination and sanitation charges | Department of Health |
| Fire prevention inspections | FDNY |
| Rent-stabilized apartment fees | NYS HCR |
| Business Improvement District charges | Small Business Services |
Due dates, grace periods and discounts
| Quarterly payer (AV ≤ $250,000) | Semiannual payer (AV > $250,000) | |
|---|---|---|
| Due dates | Jul 1, Oct 1, Jan 1, Apr 1 | Jul 1, Jan 1 |
| Interest-free until | The 15th of the due month | The due date |
| Discount for paying the year by July | 0.50% if paid by July 15 | 0.50% only if the full year is paid by July 1 |
| Discount, last three quarters | 0.33% if paid by Oct 15 | |
| Discount, last six months | 0.17% if paid by Jan 15 |
If a due date or grace date falls on a weekend or federal holiday, payment is due the next business day. A mailed payment counts on the postmark date. DOF’s level of assessment is 6% of market value for class 1 and 45% for classes 2, 3 and 4. So a one- to three-family home would need a market value above about $4.2 million to cross $250,000 and most pay quarterly, while a condo unit (class 2) crosses it at a much lower DOF market value and is more likely to be billed twice a year.
Interest if you pay late
| Assessed value | Annual rate |
|---|---|
| $250,000 or less | 6% |
| Over $250,000 up to $450,000 | 9% |
| Over $450,000 | 16% |
| Sidewalk repair charges, AV over $250,000 or vacant land | 18% |
| Sidewalk repair charges, other properties | Lesser of 8.5% or City’s cost of servicing the debt |
Interest compounds daily from the original due date. Example (Roofy calculation): a $3,000 quarterly payment due July 1 on a home assessed under $250,000, paid on July 31, accrues about $14.83 of interest, because missing the July 15 grace date means interest counts from July 1. Run your own case in the late property tax interest calculator.
Ways to pay
- 1
Online with CityPay
Pay a one-time bill online through DOF’s CityPay. Print or save the confirmation as proof of timely payment. - 2
Autopay or monthly payments (NYCePay)
Enroll in NYCePay to have payments deducted from a bank account monthly, quarterly, semiannually or annually. Monthly payments are taken on the first business day of the month in advance of the due date: one-third of a quarterly amount or one-sixth of a semiannual amount. Register at least 24 hours before a due date. Autopay does not cover past-due balances, and cards can’t be used for monthly autopay. - 3
By mail
Send a check with your payment coupon and the BBL written on the check to NYC Department of Finance, P.O. Box 5536, Binghamton, NY 13902-5536. Couriers that need a street address use JPMorgan Chase, Attn: NYC Property Lockbox #5536, 33 Lewis Rd, Binghamton, NY 13905. - 4
In person
Pay at a DOF business center. - 5
Large owners must use EFT
If your combined annual property tax for all properties is $300,000 or more, you must pay by electronic funds transfer. A failed withdrawal costs $20 plus interest.
If your mortgage pays the taxes (escrow)
If a bank or mortgage servicer pays your taxes from an escrow account, DOF sends the bill to the servicer, not to you. Your servicer collects part of each monthly mortgage payment and pays the tax when due. You’re still the owner of record, so:
- Check DOF’s online account after each due date to confirm the payment posted.
- When your assessment or exemptions change, expect your escrow payment to change at the next analysis. See mortgage escrow accounts.
- If you pay off or refinance, make sure the first bill after escrow ends reaches you. Update your mailing address with DOF.
Behind on your taxes?
Act before the account reaches the lien sale. DOF offers three payment plans:
| Plan | Terms | Who qualifies |
|---|---|---|
| Standard | 1 to 10 years, monthly or quarterly; no down payment required (one is encouraged); interest keeps accruing | Any owner, any age or income |
| PT AID | Defer some or all payments, or pay a percentage of income | Owner of a class 1 home or condo unit, primary residence for 1+ year, not held in trust, federal AGI $110,750 or less |
| Reduced Interest | 2.5% annual interest | Class 1 property assessed at $250,000 or less, primary residence 1+ year, not in a trust, owner income up to $200,000 |
Read NYC tax lien sale for the thresholds and exits. If your bill seems too high rather than late, look at your assessment: see market vs assessed value and how to appeal.
Check your bill against the rate
DOF’s most recently listed rates (tax year 2026) are 19.843% for class 1, 12.439% for class 2, 11.108% for class 3 and 10.848% for class 4. Multiply your taxable value (after exemptions) by your class rate, then subtract abatements, to get your yearly tax. Estimate it with the NYC property tax estimator, or see which tax class you’re in.
Billing schedule ($250,000 assessed value threshold, quarterly vs semiannual), due dates, 15th-of-month grace for quarterly payers, early payment discounts (0.50%/0.33%/0.17%), postmark rule from DOF due dates page. FY2027 interest rates (6%/9%/16%, compounded daily; sidewalk 18%/8.5%) from DOF late payments page. Payment plan terms (standard up to 10 years, no required down payment; Reduced Interest 2.5% for class 1 assessed at or under $250,000 and owner income up to $200,000; default after 6 months, 5-year bar) from DOF payment plans and lien sale pages. PT AID income limit corrected from $107,300 to $110,750 federal AGI per the DOF PT AID page and FAQ (the lien sale page still shows the older $107,300). 6%/45% level of assessment from DOF assessment definitions; added that condo units (class 2) cross the $250,000 billing threshold far more easily. Mailing address, NYCePay monthly autopay rules, EFT $300,000 threshold and $20 failed-withdrawal fee verified on DOF pages. Bill contents from DOF bills page; DOF does not publish a line-by-line legend, so section names are described generically. Interest example is a Roofy calculation.
Sources
- Property tax bills and payments · NYC Department of Finance (accessed October 12, 2026)
- Property tax due dates · NYC Department of Finance (accessed October 12, 2026)
- Late property tax payments · NYC Department of Finance (accessed October 12, 2026)
- Property tax payment plans · NYC Department of Finance (accessed October 12, 2026)
- Monthly advance property tax payments · NYC Department of Finance (accessed October 12, 2026)
- Property tax automatic payments · NYC Department of Finance (accessed October 12, 2026)
- Pay by mail · NYC Department of Finance (accessed October 12, 2026)
- Requirement to pay by EFT · NYC Department of Finance (accessed October 12, 2026)
- Other agency charges · NYC Department of Finance (accessed October 12, 2026)
- Definitions of property assessment terms (level of assessment) · NYC Department of Finance (accessed October 12, 2026)
- Property Tax and Interest Deferral (PT AID) · NYC Department of Finance (accessed October 12, 2026)
- Property tax rates · NYC Department of Finance (accessed October 12, 2026)
- What is an escrow or impound account? · Consumer Financial Protection Bureau (accessed October 12, 2026)
General information, not legal, tax or financial advice. Rules change; confirm with the agency or a professional before you act.