How to Pay Your NYC Property Tax Bill
Where Your Property Tax Payment Goes and When It's Due
New York City property taxes are billed and collected by the Department of Finance, not your mortgage lender or a separate tax authority. Your bill arrives in the mail four times a year — typically in January, April, July, and October — and covers the three-month period before each due date. The due dates are February 1, May 1, August 1, and November 1, though the city gives you a grace period of about two weeks before penalties start.
The amount you owe depends on your property's assessed value, which the Department of Finance sets based on recent sales of similar properties in your neighborhood. If you own a one- to three-family home, your assessment is reviewed every five years. Condos and co-ops are assessed annually. Commercial and large rental properties follow different schedules. The tax rate itself is set by the city budget each year and applies equally to all properties in the same class.
Your bill shows the assessed value, the tax rate, and the total amount due. It also lists the property address, your account number (called the Brokerage Number or BIN), and the quarter being billed. Keep this bill — you will need the account number to make payments or check your balance online.
Key Takeaways
- NYC property tax bills arrive four times per year with due dates of February 1, May 1, August 1, and November 1, with a grace period of roughly two weeks before penalties apply.
- You can pay online through the Department of Finance website using your account number, by mail with a check, or in person at a payment center.
- Late payments trigger a 10 percent penalty on the unpaid amount, plus interest that accrues daily, so paying even a few days late costs real money.
- If you cannot pay the full amount, you can set up a payment plan through the Department of Finance or request a hardship exemption if you meet income limits.
- Your mortgage lender may collect property taxes as part of your escrow account, in which case they pay the city directly and you reimburse them monthly.
Online Payment Through the Department of Finance Website
The fastest and most direct way to pay is through the NYC Department of Finance website at nycproperty.finance.nycgov. You will need your Brokerage Number (BIN), which appears on your tax bill, or your property address. Once you log in or enter your information, the site shows your current balance, all past bills, and any penalties or interest owed.
You can pay by credit card, debit card, or electronic bank transfer (ACH). Credit and debit card payments process immediately and cost a convenience fee of roughly 2 percent of the amount paid — the exact fee is shown before you confirm. ACH transfers are free but take three to five business days to clear. The site accepts partial payments, so you can pay part of your bill now and part later if needed.
After you pay online, you receive a confirmation number immediately. The Department of Finance updates your account balance within one business day. If you pay by card or ACH close to the due date, verify that the payment posts before the deadline to avoid a late penalty.
Mailing a Check or Paying in Person
If you prefer not to pay online, you can mail a check to the address printed on your tax bill. Write your Brokerage Number on the check itself. Mail should arrive at least five business days before the due date to ensure it clears on time — the postmark date does not count as payment, only the date the Department of Finance receives it.
You can also pay in person at a Department of Finance payment center. Locations are open during business hours in lower Manhattan and in each borough. Bring your tax bill and a form of payment — cash, check, or debit card. Credit cards are not accepted at payment centers. Payment centers do not take appointments, so expect a wait during peak times (typically mid-month and near due dates).
In-person and mailed payments take longer to post to your account than online payments. Allow at least one week after mailing or paying in person before checking your balance online to confirm the payment was received.
What Happens If You Pay Late
If your payment does not arrive by the due date, the city charges a 10 percent penalty on the unpaid amount. This penalty is added to your bill immediately. In addition, interest accrues daily at a rate set by the city each year (currently around 8 percent annually, though this changes). Both the penalty and interest are added to what you owe, so a late payment becomes significantly more expensive very quickly.
If you remain unpaid for several months, the Department of Finance may file a tax lien against your property. A lien is a legal claim that gives the city the right to take money from a future sale of your home. It also damages your credit and makes it harder to refinance or borrow against your property. The city can also begin foreclosure proceedings if you owe more than a certain amount and remain unpaid for an extended period, though this is rare for residential properties.
If you realize you will miss a due date, contact the Department of Finance before the deadline to discuss a payment plan or hardship relief. Acting before you are late gives you more options than waiting until penalties have already been added.
Setting Up a Payment Plan If You Cannot Pay in Full
The Department of Finance offers installment plans for property owners who cannot pay their full bill at once. You can request a plan through the website, by phone at 311, or in person at a payment center. To set up a plan, you typically need to pay a portion of what you owe upfront (the amount varies) and then make monthly payments for the remainder.
A payment plan stops penalties and interest from accruing as long as you make each monthly payment on time. If you miss a payment on the plan, the agreement can be canceled and the full balance becomes due immediately, along with penalties and interest. The Department of Finance sends payment reminders, but it is your responsibility to pay by the date specified in your plan agreement.
Payment plans are not the same as a hardship exemption. A plan lets you spread payments over time; an exemption reduces or eliminates your tax bill based on income. If your household income is below a certain threshold (which varies by property type and changes annually), you may be able to request an exemption through the Department of Finance or through a community organization that handles tax relief applications.
How Escrow Accounts Work When You Have a Mortgage
If you have a mortgage, your lender may require you to pay property taxes through an escrow account — a separate account the lender holds in your name. Each month, you pay the lender an amount that includes your mortgage principal, interest, property taxes, and homeowners insurance. The lender then pays your property taxes directly to the Department of Finance on your behalf.
When taxes are paid through escrow, you do not receive a tax bill and do not pay the city directly. Instead, your lender sends you an annual statement showing how much they paid in taxes on your behalf. If your property assessment increases or the tax rate rises, your monthly escrow payment will increase at the next annual adjustment. Conversely, if your taxes decrease, your payment may go down.
If your lender is not paying your taxes on time, contact them immediately — the lender is responsible for the payment, not you, but a late payment still creates a lien against your property. Ask your lender for proof that they have paid the current quarter's taxes. If they have not, request that they pay immediately and ask for a written confirmation of payment.
Checking Your Balance and Payment History Online
You can check your property tax balance and see all past payments at any time through the Department of Finance website. Enter your Brokerage Number or property address, and the site displays your current bill, any unpaid amounts, penalties, interest, and a complete payment history going back several years. This is useful for confirming that a payment you made has posted, checking whether you are current, or reviewing what you owe before setting up a payment plan.
The site also shows the assessed value of your property and the tax rate applied to it. If you believe your assessment is incorrect, you can file a challenge through the Department of Finance or through the Tax Commission. The deadline to challenge an assessment is typically 30 days after your bill is mailed, so act quickly if you think the value is wrong.
If you do not have internet access, you can call 311 to request a balance statement by mail or to speak with someone who can look up your account over the phone. You can also visit a payment center in person and ask for a printout of your account.
Frequently Asked Questions
What if I pay my property taxes but my mortgage lender also pays them through escrow?
Contact your lender immediately and tell them you have paid. Provide them with your payment confirmation number. The lender should not pay again, but if they do, you will receive a credit on your account from the Department of Finance. The credit can be applied to future tax bills or refunded to you, though refunds take several weeks to process.
Can I deduct my NYC property taxes on my federal income tax return?
Yes, property taxes are deductible on your federal return if you itemize deductions. However, the total of all state and local taxes (property, income, and sales) you deduct is capped at $10,000 per year. Consult a tax professional to determine whether itemizing benefits you more than taking the standard deduction.
What if I disagree with my property assessment?
You have the right to challenge your assessment. File a Complaint of Assessment with the Department of Finance within 30 days of receiving your bill. The form is available on the Department of Finance website. If you disagree with their response, you can appeal to the Tax Commission. Many community organizations offer free help with assessment challenges if your income is below a certain level.
Do I have to pay property taxes if my house is in foreclosure?
Yes. Property taxes remain your responsibility until the foreclosure is complete and the property is sold. If you stop paying, penalties and interest accumulate, and the city can file a lien. If you are facing foreclosure, contact a housing counselor or legal aid organization — they can explain your options and may be able to help you negotiate with your lender.
How do I learn about there is a tax lien on my property?
Search the Department of Finance website using your Brokerage Number or property address. The site shows any active liens. You can also request a lien search in person at a Department of Finance office or by mail. If a lien exists and you pay the full amount owed plus penalties and interest, you can request that the lien be removed once the payment clears.