10040 Property Tax Rate

Property owners in ZIP code 10040 (New York, New York) pay a median of $3,726/year in property taxes on homes valued at $465,700. This translates to an effective tax rate of 0.80%, which is 57% below the New York state average of 1.85%.

The monthly property tax burden for a median-valued home in 10040 is approximately $311, which factors into escrow payments on mortgages. This ZIP code is located within New York County. This is $1,526 less than the New York average of $5,252/year.

Compared to similar ZIP codes in New York, 10040 has lower property taxes. ZIP codes with similar effective rates include 11693 (0.80%) and 11212 (0.80%).

In New York, property taxes represent approximately 5.8% of the median household income of $64,022, providing context for the relative tax burden on homeowners in this area.

New York has no statewide property tax cap; New York County (Manhattan) assessments are locally set and reassess at market value upon sale without guaranteed annual increase limits. The STAR (School Tax Relief) program saves eligible primary residence owners hundreds annually — apply for Basic STAR if your household income is ≤$500,000, or Enhanced STAR if you're a senior (over 65) earning ≤$95,300 or disabled and earning ≤$80,750. File your STAR exemption application with the New York County Assessor before the March 1 deadline to lock in reduced school taxes on your property.