NYC PROPERTY TAX RATES FY 2010

To:              REBNY Members

Date:           November 23, 2009

Re:              Real Property Tax Rates FY 2010

The City Council recently adopted real property tax rates for fiscal year 2010, which began July 1, 2009.  Here are the 2010 tax rates by class.

Tax Class                  Tax Rate

Class 1                       17.088

Class 2                       13.241

Class 3                       12.743

Class 4                       10.426

Please note that the tax bills issued for the first half of fiscal year 2010 (July 2009 through December 2009) were based on the fiscal year 2009 tax rates.

As a result, your second half tax bill will be based on the recently adopted fiscal year 2010 tax rates and will include an adjustment for any overpayment or underpayment in the first half of the year.

Please contact Michael Slattery at ( mslattery@rebny.com ) or 212-616-5207) with any questions.