11416 Property Tax Rate

Property owners in ZIP code 11416 (Ozone Park, New York) pay a median of $5,709/year in property taxes on homes valued at $733,500. This translates to an effective tax rate of 0.78%, which is 58% below the New York state average of 1.85%.

The monthly property tax burden for a median-valued home in 11416 is approximately $476, which factors into escrow payments on mortgages. This ZIP code is located within Queens County. This is $457 more than the New York average of $5,252/year.

Compared to similar ZIP codes in New York, 11416 has lower property taxes. ZIP codes with similar effective rates include 11214 (0.78%) and 11378 (0.78%).

In Ozone Park, property taxes represent approximately 6.7% of the median household income of $85,544, providing context for the relative tax burden on homeowners in this area.

New York has no statewide property tax cap; Queens assessments reflect citywide revaluation cycles and market conditions without annual ceilings. Queens homeowners with primary residences earning ≤$500,000 qualify for the Basic STAR exemption, reducing school property tax bills by exempting a set dollar amount from assessed value — apply through the NYC Department of Finance or your school district. File your STAR application within 30 days of purchase with the NYC Department of Finance (visit nyc.gov/finance or call 311) to activate the exemption on your first tax bill.