New York Mortgage Calculator
Calculate your monthly payment in New York, with property tax included using the state's effective rate of 1.55%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in New York: the numbers
Few states tax homes more heavily than New York does. Its effective property tax rate is 1.55%, a full 68% higher than the 0.92% national average, and it ranks 6th out of 50 when states are ordered from highest rate to lowest.
Looking at the median home in New York ($423,800), the median annual property tax is $6,582. Divided by twelve, that is about $549 each month.
| Effective property tax rate | 1.55% |
|---|---|
| Median home value | $423,800 |
| Median annual property tax | $6,582 |
| Rank by rate (1 = highest of 50) | 6 |
| Difference vs 0.92% national average | 0.63 points above (68% above) |
What this means for your monthly payment
Two worked examples for New York, using the figures above:
Example 1: the median home
$6,582 per year ÷ 12 = about $549 per month in property tax (median home value: $423,800).
Example 2: a $300,000 home
$300,000 × 1.55% ÷ 12 = about $388 per month, or $4,650 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In New York it is about $4,650, which is $1,890 more per year (about $158 more per month).
Compare with similar states
States ranked just above and just below New York by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
- New Jersey — 2.11% (rank 1)
- Illinois — 2.01% (rank 2)
- Connecticut — 1.81% (rank 3)
- New Hampshire — 1.66% (rank 4)
- Vermont — 1.59% (rank 5)
New York property tax FAQ
What is the property tax rate in New York?
The effective property tax rate in New York is 1.55%. That is 68% above the 0.92% national average, and the state ranks 6th out of 50 when states are ordered from highest rate to lowest.
How much is property tax on a $300,000 home in New York?
At New York's effective rate of 1.55%, property tax on a $300,000 home works out to about $4,650 per year, or about $388 per month. At the 0.92% national average, the same home would be about $2,760 per year, so New York is about $1,890 more per year.
How much is property tax on the median home in New York?
The median home value in New York is $423,800, and the median annual property tax is $6,582, which is about $549 per month.
Does the property tax rate vary inside New York?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 1.55% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.