The zip code with the greatest increase calendar year above calendar year was 11234 in Maritime Park, Brooklyn, in which house taxes shot up by an absurd 363.6% from $9.8 million in 2020 to $45.2 million in 2021, in accordance to the facts. The major decrease was in 11351 in College or university Place, Queens, the place they dropped by 98.3% from $21.9 million to $363,104, the quantities clearly show.
Drastic year-over-year alterations such as these are commonly because of to compact sample sizes or distinct land parcels with significant payment amounts that could have been made just before or just after July 1 in diverse a long time, in accordance to the DOF.
Crain’s only included zip codes where at minimum 10 parcels designed house tax payments throughout the 1st quarters of both of those fiscal decades in its investigation. Overall, 122 of these zip codes noticed an maximize amongst 2020 and 2021, 54 noticed a reduce and two—11427 and 11429 in Central Queens—saw no change.
Total home tax payments in New York City as of July 1 have been about $11.1 billion for fiscal year 2021, a 4% increase in comparison to the $10.6 billion collected for the duration of the identical time period in fiscal yr 2020, in accordance to the DOF. Payments enhanced to about $12.9 billion as of July 25, a 6% raise in contrast to the $12.1 billion obtained by final July 25, in accordance to the company. Oct. 15 is the following deadline for quarterly assets tax payments.