It may be true that “Nothing in life is certain except death and taxes,” but at least there are a few ways New York City homeowners can reduce their property taxes. These include:

Filing for all exemptions for which the homeowner may be eligible

  • Requesting corrections of the property data that appear in the Notice of Property Value sent in January

  • Filing a written request with the NYC Department of Finance to review the estimated market value of the property listed on the Notice of Property Value sent every January

  • Filing a written request for with the NYC Taxation Commission for an assessment appeal ($175 filing fee)

Tax Exemption Requests

Different forms are used when filing for exemptions for the first time, when changing an exemption, and when renewing an exemption.

  • Basic STAR and Enhanced STAR exemption. “STAR” stands for School Tax Assessment Relief.” Basic STAR is available to homeowners of any age whose annual income is less than $500,000. Enhanced START is available to homeowners age 65 or older whose annual income is $84,550 or less. First-time applications for these exemptions must be submitted to New York State Department of Taxation and Finance (NYSDTF). Apply by calling 518-457-2036 or visiting www.tax.ny.gov/star. You must provide the homeowner’s birthday, Social Security Number, and the date the home was purchased (refer to deed) or date of last deed update. NYSDTF will decide if the homeowner is eligible for Basic or Enhanced STAR. If eligible, the homeowner will receive a rebate check.

  • Upgrading from Basic to Enhanced STAR. Applicant must be 65 or older, earn less than $84,550 per year, and apply through the NYC Department of Finance by submitting the required documentation along with the form Homeowner Tax Benefit Application for STAR Exemption

  • First-Time Requests for Senior, Veterans, Disabled, and Clergy Exemptions: Applicant must apply for these exemptions by submitting the required documentation along with the NYC Department of Finance form Tax Benefits Application for Homeowners

  • Renewal of Senior Exemption: Applicant must be 65 or older with an annual income below $37,400. Note: A senior may have BOTH the Senior Exemption AND the Enhanced STAR exemption at the same time.  Starting in 2017, seniors must now renew their senior exemption every two years. Applicants must re-apply by submitting the required documentation along with the NYC Department of Finance form Senior Citizen Homeowner Exemption (SCHE) Renewal Application for 2017/2018

  • Renewal of Disabled Exemption: Starting in 2017, disabled homeowners must now renew their disabled exemption every year. Applicants must re-apply by submitting the required documentation along with the NYC Department of Finance form Disabled Homeowner Exemption (DHE) Renewal Application for 2017/2018

Correcting Property Data

 The NYC DOF lists a description on p. 2 of the Notice of Property Value, which it sends every January. If the info is incorrect, resulting in an unnecessary increase in your property tax, file a request by April 3, 2017 to correct the data using one of the following two forms:

For 1-, 2-, or 3-unit, residential rental properties:

Request to Update Property Data for Tax Class 1 Homes 

For 4+ unit, residential rental properties, coops, and condos:

Request to Update Property Data for Tax Class 2 Homes

Challenging Property’s Market Value

 To challenge the city’s tentative assessment of a property’s market value listed on Notice of Property Value sent in January, a homeowner may file for both or either of the following: