NYC 2027 Tentative Property Tax Assessment Roll Released

The New York City Department of Finance (DOF) released the Fiscal Year 2027 (FY27) Tentative Property Tax Assessment Roll on Thursday, January 15. Based on the DOF’s press release, the total market value of all New York City properties is $1.659 trillion, representing a 5.4% increase from FY26. The citywide taxable assessed value, which is the portion of market value to which tax rates are applied, similarly increased by 5.6% to $325.8 billion during the same period. Real estate activity over the twelve-month period from January 6, 2025, to January 5,2026, the annual taxable status date, as well as income and expense information for commercial properties during calendar year 2024 and submitted to DOF in 2025 were used to determine market values for FY27. Although the citywide property values increased for the FY27 tentative tax roll, it was slightly more moderate than the 5.7% rise in FY26. Citywide construction activity added $11.8 billion in new market value, of which Manhattan Brooklyn and Queens accounted for 86.5% of the overall construction activity throughout the city, although the Bronx registered the highest percent increase of 1.2% in construction activity among the five boroughs. While the residential market reflected solid gains in value among the class categories, office, retail, and hotel properties posted stronger gains than in the prior year.

Source:    https://www.nyc.gov/site/finance/about/press/press-release-fy27-tentative-assessment-roll.page#