Tax Classes
Every property in New York City is assigned to a tax class based on the property's size and how it is used.
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1-, 2-, and 3-family homes Condo buildings that are 3 stories or less Small stores or offices with 1-2 apartments attached Vacant land that is zoned for residential use | Property that isn't in Class 1 and is mostly residential Primarily residential property with 4 or more units Co-op and condo buildings that are 4 stories or higher Small stores or offices with 2 or more apartments attached |
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Property with equipment owned by a gas, telephone, or electric company | All other commercial and industrial property, such as offices and factories Vacant land that is not zoned for residential use |
Vacant Land
All vacant land in Manhattan is classified as Tax Class 4 property, regardless of use.
In the City's other boroughs, the vacant land tax class depends on how it's used. If it's zoned for commercial use, it is taxed as commercial property. If zoned for residential use, it is taxed as residential property.
The market value is based on comparable sales of other vacant land.