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Why are property taxes different for similar apartments in a building?

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  • Why are property taxes different for similar apartments in a building?

    For example, we were looking at 255 East 49th Street #26E which lists monthly taxes of $1,043, but 19E had monthly taxes listed as $1,289 when it was on the market a month ago. How does this make sense when they are both apartments of the same E line in the building, with identical layouts and floorplans?

    Also, where are the listing agents getting these numbers from? Are the property tax figures before abatements and exemptions perhaps?
    Last edited by ping; 05-02-2019, 01:34 AM.

  • #2
    Hard to say, need more information on this exact property. Plus situation with taxes in USA https://tranio.com/usa/taxes/ is not that simple.
    Last edited by Dendiox; 05-02-2019, 08:11 AM.

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    • #3
      Originally posted by ping View Post
      For example, we were looking at 255 East 49th Street #26E which lists monthly taxes of $1,043, but 19E had monthly taxes listed as $1,289 when it was on the market a month ago. How does this make sense when they are both apartments of the same E line in the building, with identical layouts and floorplans?

      Also, where are the listing agents getting these numbers from? Are the property tax figures before abatements and exemptions perhaps?
      The official source for property tax figures in NYC is the NYC Department of Finance. Annual property taxes for 255 East 49th Street #26E are $12,513 ($1,042.75/month) according to the most recent quarterly tax bill. Annual property taxes for 255 East 49th Street #19E are $15,466 ($1,288.83/month).

      Tax Bills:
      #19E: https://a836-mspuvw-dofptsz.nyc.gov/...1&stmtType=SOA
      #26E: https://a836-mspuvw-dofptsz.nyc.gov/...1&stmtType=SOA

      Taxes are lower for 26E because it currently has an owner-occupant 'Cooperative and Condominium Tax Abatement.' Basically you can apply to reduce your property taxes if the apartment is used as your primary residence. Therefore, we may assume that 19E was not being used as a primary residence and therefore it did not receive this abatement.

      If you bought 26E and made it your primary residence, you could apply for this tax abatement.

      Is this helpful?



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