What Are the Commercial Real Estate Tax Rates in New York State?


Quick Answer

Municipalities in the state of New York set their own commercial real estate tax rates, according to the New York State Department of Taxation and Finance. As of 2015, New York City commercial real estate tax rates range from 10.656 percent to 19.554 percent, states the city's Department of Finance.

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Full Answer

The state of New York does not impose or collect real estate taxes, notes the New York State Department of Taxation and Finance. The total taxable assessments in a municipality or school district determine the tax rate. Cities and municipalities use the taxes they levy and collect for public schools and government operations. The value of land and any permanent structures on it determine the real estate tax, called an ad valorem tax. Generally, properties of the same value in the same community pay the same amount in property taxes, not including exemptions.

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