How to Search New York Property Records

Property records are public records in New York, and anyone can search them for information on mortgages, deeds, real estate sales, asset ownership, and other legal, financial, or personal reasons.

New York City uses the ACRIS (Automated City Register Information System) to store and maintain property records. Anyone can use this tool to search for information on a property by borough, block, lot (BBL), or address. For example, you can search via ACRIS if you need records from Manhattan. The five boroughs include:

• Manhattan - New York County (zip codes: 10001, 10002, 10003, 10004, 10005, 10006, 10007, 10009).
• Brooklyn - Kings County (zip codes: 11201, 11203, 11204, 11205, 11207, 11208, 11209, 11210, 11211).
• Queens - Queens County (zip codes: 11004, 11101, 11102, 11103, 11104, 11105, 11106, 11354).
• The Bronx - Bronx County (zip codes: 10451, 10452, 10453, 10454, 10455, 10456, 10457, 10458).
• Staten Island - Richmond County (zip codes: 10301, 10302, 10303, 10304, 10305, 10306, 10307, 10308).

To search for records in New York City, you can also use this directory of county clerks to find the one you need and request records from the office where the property is located.

New York City property taxes are essential to the local economy since there is no personal property tax on real property (cars/jewelry/etc.). The money pays for schools, police, firefighters, road maintenance, and other municipal services. Residential homeowners pay different property tax rates than commercial building owners.

New York City property taxes have increased considerably over the past few years because the cost of living has spiked radically since COVID-19. Each year, the city officials determine the budget required to handle the city's expenses, and if costs increase, so must property taxes. Each property owner shares in that expense. Compared with the rest of the county, New York City ranks 43rd in the nation for having the lowest property taxes.

You can pay your New York City property taxes online, through the mail, and in person at any Department of Finance business office. Checks should be made out to the "NYC Department of Finance".

Assessments

Every year, the New York City Department of Finance values each property to calculate its property taxes. These assessments are the basis for your annual property taxes. If you disagree with the value, you can appeal through the New York City Tax Commission.

Appraisals

Banks hire appraisers to value property when lending money to home buyers. They need to know that the value supports the loan. Others also use appraisers to get an accurate idea of a particular property's fair market value (FMV). The NYS Department of State (NYSDOS) issues licenses to certified appraisers.

The top rated appraisers in New York City include:

• Homeland Appraisals Inc.
• Manhattan Real Estate Appraisals Downtown
• Amsterdam Appraisal Services
• Sutton Certified Appraisals

Tax Rates

Property in New York City is taxed based on four tax classes:

• Class 1 (single-family homes, duplexes, triplexes) 20.085%
• Class 2 (apartment buildings, co-ops buildings, and condos) 12.500%
• Class 3 (utility company buildings) 11.181%
• Class 4 (commercial buildings, hotels, retail stores, and warehouses) 10.762%

Although New York State's tax rate averages 1.62%, New York City's tax rate is significantly lower at an average of 0.98%.

Tax Exemptions

To lower your annual property bill, you can also apply for exemptions or an abatement if you qualify. Some available exemptions in New York City include:

• Cooperative and Condominium Tax Abatement
• Senior Citizens Homeowners' Exemption (SCHE)
• Senior Citizen Rent Increase Exemption for Landlords/Tenants (SCRIE)
• Industrial & Commercial Abatement Program (ICAP)
• Veterans Exemptions
• Disability Rent Increase Exemption (DRIE)
• Disabled Homeowners Exemption (DHE)
• Payment in Lieu of Taxes Agreements (PILOT)
• Clergy Exemption

To learn more about these exemptions and apply, use this NYC government resource.

New York City requires building permits for most types of work, including new construction, renovations, add-ons, and demolishing. The city also requires them to convert a building for "new use" and combine apartments.

The New York City Department of Buildings is the government office that issues building permits. They created a handy online tool called DOB NOW to make applying for and downloading permits easy.

When applying, you must register online and submit your proposal, including supporting documentation like blueprints, material lists, and contractor licenses. You must also pay the required fee.

Obtaining a New York City building permit can take 2-4 weeks. After approval, you can begin work. During construction, someone from the Department of Buildings or Fire Department (DOB) of New York (FDNY) will thoroughly inspect the work. If any code violations are found, you must correct them before work can continue.

New York City is a diverse melting pot of 8.258 million people. N YC has 3,705,000 housing units. In the Big Apple, 1,109,000 housing units are owner-occupied, and 2,324,000 are rented out. Along with its distinct population, New York City contains many different types of housing units, such as single-family homes, apartments, townhouses, multi-family units, row houses, rent-regulated housing, and public housing.

The median value for real estate in New York City is $810,000, a 3.2% increase annually. Although homes in New York City list for an average of $839,000, the median home sale price is $690,000. New York County has a much higher median, and homes go for $1,139,492. Brooklyn can be more affordable, depending on where you live. For example, homes in the Wingate area are priced at $790,535, and homes in Flatbush go for $623,962. Prospect Lefferts Gardens homes sell for an average of $1,268,25, and those in Brownsville are listed for $612,236. Prospect Park South (zip codes: 11216, 11218) homes sell for $850,656.

Roughly 43% of homes sold in New York City sell above the list price. Only 25% of homeowners drop the price of their homes while on the market. At any given time, there are about 20,000 homes for sale in New York, and they sell a bit slower than in other parts of the country. Real estate in New York City tends to stay on the market for an average of 91 days.