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The Department of Finance (DOF) collects more than $33.2 billion in revenue for the City and values more than one million properties worth a total market value of $988 billion. In addition, DOF also: Records property-related documents Administers exemption and abatement programs Adjudicates and collects parking tickets Maintains the city's treasury

This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property times an assessment ratio times a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.

Next, multiply the mill rate by the home’s taxable value to determine your property taxes. For example, if there are 9.5 total mills in your local tax district and your home’s taxable value is ...

The original program gets its name from section 421-a in the New York Real Property Tax Law. The 421-a program began in 1971, and the state government later added provisions to mandate the creation of affordable housing units in order for developers to qualify for the program.