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Assessments and property taxes for new homebuyers

Before you buy a home

When you’re thinking of buying a new home, online real estate listings can provide a great deal of detail about the houses you’re considering, the neighborhoods, and the local school district.

We suggest you also use our Salesweb tool to review the sales prices of similar properties. Salesweb provides ten years of property sale information outside of New York City. (For New York City sales, visit the city’s Automated City Register Information System (ACRIS).)

Once you’ve narrowed down your search, contact your realtor or the assessor where the property is located for an estimate of the property taxes.

You can find assessor contact information in Municipal Profiles

For general information, see Learn about assessments and property taxes

At the closing

When you buy your new home, there are three New York State taxes and fees that will generally be collected at the closing:

After the closing

Register for the STAR credit

When the home becomes your primary residence, you should register for the STAR credit online. As long as you remain eligible, the Tax Department will issue you a STAR credit to you by mail or direct deposit each year. See STAR resource center for eligibility and other information.

Note: Depending on when you bought your home, in the first year, you may receive the prior owner’s STAR exemption instead of the STAR credit. In future years, as long as you’re eligible, you'll receive your STAR credit. 

See if you're eligible for a property tax exemption

In addition to the STAR credit, you may be eligible for one or more property tax exemptions. Most exemptions are offered at the discretion of your taxing jurisdiction (municipality, county, or school district). Check with your assessor to see what exemptions are available in your community.

For descriptions of the most common exemptions, see Property tax exemptions.

Understand your assessment

As a homeowner, you should become familiar with your property’s assessment. Your assessment is one of the factors used by your local governments and school district to determine the amount of your property taxes. Below are some key pages to help get you started.

  • Learn about assessments and property taxes. Develop a basic understanding of how the assessor determines your assessment and how taxes are calculated by taxing jurisdictions. You should also be familiar with the property tax calendar for your municipality. 
  • Check your assessment. We encourage you to review your assessment annually to:
    • ensure your assessment is fair, and
    • make sure you'll receive the exemptions you believe you're entitled to.
  • Contest your assessment. Learn how to tell if your property is assessed fairly and, if it isn’t, how to grieve (or challenge) your assessment.

Couple working in the garden of their new home

Do you work with new homebuyers?

Print out this helpful handout to help new homebuyers learn about the property assessment resources on our website: Property tax information for new homebuyers.