The last year in which the Department of Finance is aware of an alteration to the building which would change the tax assessment of the building. An alteration in this context may include work which does not require a change or re-issuance of the Certificate of Occupancy from the Department of Buildings. The Department of Buildings has separate rules and definitions for determining what is an alteration.
The property tax assessment process starts when the city's assessors
determine the market value of your property. Despite the name, this
value has little to do with what someone would actually pay
for your property. In some neighborhoods the market values are close
to actual property values. In others they can be as little as 5% of true values.
Even within neighborhoods there can be wide variations.
Market Value
$2,000,000
$1,920,000
Property tax is only levied on a portion of the market value. This portion
is called the assessed value. For 1-3 family homes and 1-3 story condos,
taxes are levied on 6% of the market value. For all other properties, taxes
are levied on 45% of the value.
Sometimes the city will exempt part of the assessed value from
taxation for a certain number of years. Usually these exemptions are granted as
an incentive to make improvements to an existing structure or to build on a
vacant lot. Larger incentives are granted in development zones. For
rental property the incentives are usually tied to rent stabilization.
Market Value
$2,000,000
$1,920,000
Assessment Ratio
x 0.45
x 0.45
City's Assessed Value
= $900,000
= $864,000
Exemptions Granted by the City
- $19
- $18
City's Net Assessed Value
=
$899,981
=
$863,982
While the city's assessors have noted the rapid appreciation
of property in New York City, the state understands that it would be burdensome
for property taxes to rise too fast. Therefore, increases in the assessed
value are phased in over a number of years. This introduces the
transitional assessed value, which is limit on the portion of the assessed
value which has been introduced into the tax base.
Unfortunately, when the assessed value is phased in, sometimes the
exemptions are as well.
Transitional Assessed Value
$246,953
$341,314
Transitional Exemption Value
- $5
- $7
Transitional Net Assessed Value
=
$246,948
=
$341,307
The taxable value is the smaller of the
city's net assessed value and the
transitional net assessed value.
Taxable Value
$246,948
$341,307
The property tax is determined by multiplying the
assessed value by the tax rate. The tax rate is different for different
types of buildings.
In addition to exemptions, the city also grants tax abatements to
some properties. An abatement is simply a discount —
it is subtracted directly from the annual tax bill.
Taxable Value
$246,948
$341,307
Tax Rate
x 0.13241
x 0.13241 *
Tax before Tax Abatements
= $32,698
= $45,192
Tax Abatements
- $0
- $0
Annual Tax Bill
=
$32,698
=
$45,192
* The current year's tax rate has been applied to the Tentative Assessment since
the new tax rates will not be set until later this year.
This web site is not an authoritative source for property tax information.
The computer program that generates this analysis
was only validated in an informal manner using a small sample of properties.
The analysis presented for this property may be incorrect, and you should
validate it independently if you will rely on it.
The only authoritative source is the New York City Department of Finance (DOF).
You can visit the property tax section of its web site
here.
The analysis presented here is based on assessment data from a point in
time. The DOF periodically revises assessments. If the assessment for this
property is raised, the tax bill will almost certainly rise as well. Some raises
are phased in (transitioned) slowly, others are not. From time to time
the city raises tax rates, which also raises tax bills.
Click on the map to expand!
In this map, view the tax value paid per square foot for this property.
The Department of Finance (DOF) issues exemptions bi-annually every fiscal year
(7/1 - 6/30). Tentative exemptions are issued at the beginning of the fiscal year
and are subject to adjustment if the DOF learns of changes in eligibility criteria.
The Final exemptions are issued at the end of the fiscal year and will reflect any
changes in exemption totals. Increases in assessed value of all class 4 properties
and coops, condos, and rental buildings with more than 10 units in class 2 must be
phased-in over a 5 year period. The transitional assessed value represents the interim
value and any changes occurring during this phase-in period.
Current Values
Transitional land
$93,682
Transitional total
$246,953
Actual land
$405,000
Actual total
$900,000
Exemption Values
Exempt land
$5
Exempt total
$5
Actual exempt land
$19
Actual exempt total
$19
Tentative Change Values
Tentative transitional land
$171,511
Tentative transitional total
$341,314
Tentative actual land
$405,000
Tentative actual total
$864,000
Tentative Change Exemption Values
Tentative exempt land
$7
Tentative exempt total
$7
Tentative actual exempt land
$18
Tentative actual exempt total
$18
Final Change Values
Final tentative transitional land
$171,511
Final tentative transitional total
$341,314
Final tentative actual land
$405,000
Final tentative actual total
$864,000
Final Change for Exemption Values
Final tentative transitional exempt land
$7
Final tentative transitional exempt total
$7
Final tentative actual exempt change land
$18
Final tentative actual exempt change total
$18
Sequence
Exemption code
Exemption description
1
41856
School Tax Relief
Exemption Code: A five-digit identification number used for designating
each specific exemption type. The first of the five digits can have a value of
1, 2, 3, or 4, and these values can be interpreted as follows:
1. Public owner, exemption not limited by State law in amount, duration, or tax purpose.
2. Private owner, exemption not limited by State law in amount, duration, or tax purpose.
3. Public owner, exemption limited by State law in amount, duration, or tax purpose.
4. Private owner, exemption limited by State law in amount, duration, or tax purpose.
The second, third, and fourth digits are read together and constitute a unique code for each
exemption statute. The fifth digit, which can have a value ranging from zero to 6, identifies
the tax purposes for which the exemption is granted and it can be interpreted as follows:
0. Exempt for county, city/town, and school purposes.
1. Exempt for county, and city/town purposes.
2. Exempt for county purposes.
3. Exempt for city/town purposes.
4. Exempt for school purposes.
5. Exempt for county and school purposes.
6. Exempt for city/town and school purposes.
_. (Underline) More than one entry possible (local-option exemptions).
PropertyShark obtains its records from the DOF and updates them bi-annually.
Please note: This section is new and is being tested.
In the future it might not be included in the basic property reports subscription.
Rather, it may be part of a separate subscription combining this section and other
more detailed information about property taxes, exemptions, and abatements.
Year
Building Change
Change in equalization building assessment, excluding STAR exemptions.
Building Value
Land Change
Change in equalization land assessment, excluding exemptions.
Land Value
Remis
This is the land and building remission values combined.
If during any assessment, the assessor establishes that a property's value has
changed substantially,it will be recorded on the next released roll. However,
a property's value cannot increase drastically in a short amount of time.
(This is to prevent a large jump in annual property tax payments
with little notice.) To allow for this change, remissions are issued to counter
the increase, which prevents these large jumps in taxes.
Total
This is the total value, including remissions, for both land and building.
Properties and businesses within NYC qualify for a number of city, state and federal economic and development incentives based on factors such as location, business type, investment, renovation, new construction, increased employment, and other factors. This section shows you for which programs this particular building may qualify.
When excessive violations are present, this can adversely affect the
support given by The NYC Department of Housing Preservation and
Development (HPD). These violations can result in building-wide
inspections, fees, and the requirement of extensive repair work to
correct underlying conditions. In some cases, outstanding violations
may result in a lien being placed on the property. It is also
substantially more difficult to mortgage a building with extensive
violations.
Click on the map to expand!
11 B & C violations/property, 0.92 B & C violations/unit
HPD Violations
In this color-coded map, view the amount of B & C
class violations that have been left uncorrected for
a specific property.
Legend
Open A class violations: 0
Open I class violations: 0
Open B class violations: 7
Open C class violations: 4
Open B & C class violations:
11
Number of units:
12
The last update of the map happened before NYC HPD added
new violations for this property so the map may not
be reflective.
Description of the Classes
Class I
Conditions that render the building uninhabitable.
Class C
Immediately hazardous, such as inadequate fire exits, rodents, lead-based paint, lack of heat, hot water, electricity, or gas. An owner has 24 hours to correct a C violation and five days to certify the correction to remove the violation. If the owner fails to comply with emergency C violations such as lack of heat or hot water, HPD initiates corrective action through its Emergency Repair Program.
Class B
Hazardous conditions, such as requiring public doors to be self-closing, adequate lighting in public areas, lack of posted Certificate of Occupancy, or removal of vermin. An owner has 30 days to correct a B violation and two weeks to certify the correction to remove the violation.
Class A
Non-hazardous conditions, such as minor leaks, chipping or peeling paint when no children under the age of six live in the home, or lack of signs designating floor numbers. An owner has 90 days to correct an A violation and two weeks to certify repair to remove the violation.
Unit
Date
Class
Description
10
6/16/2007
C
§27-2056.7 adm code -correct failure to provide to the department within 45 days of demand all records required to be maintained by owner
-
3/10/1993
C
§ 27-2033 adm code post notice, in form approved by the department, stating the name and location of the person designated by the owner to have key to buildings heating system at or near mailboxes 1 sty public hall.
-
3/10/1993
C
§ 27-2033 adm code provide ready access to buildings heating system cellar door locked.
12
3/10/1993
B
§27-2005 adm code & 309 m/d law abate the nuisance consisting of no electricity thru out 1 sty north apt 12. located at apt 12
12
3/10/1993
B
§27-2045 adm code repair or replace the smoke detector missing 1 sty north apt 12 harris. located at apt 12
12
3/10/1993
C
§27-2005, 2007 adm code remove the illegal fastening double cylinder key operated lock installed entrance door 1 sty north apt 12. located at apt 12
-
5/12/1986
B
§26-10.01, 10.05 adm code fire egress defective. restore egress by removing locking device and arrange to open readily the gate in fence at lot line double cylinder key operated lock entrance gate at fence south side yard at west.
1
1/22/1986
B
§26-10.01 adm code properly repair with similar material the broken or defective wood floor 1 sty north apt 1 front room. located at apt 1
-
1/22/1986
B
§26-10.01, 10.05 adm code remove all encumbrances consisting of cardboard boxes 4 sty public hall & bulkhead intermediate landing.
3
12/27/1985
B
§26-20.08 adm code repair or replace the smoke detector defective 1 sty apt 3 center north mock.
3
12/27/1985
B
§26-10.01 adm code & 309 m/d law abate the nuisance consisting of double cylinder key operated lock installed at entrance door 1 sty north center apt 3.
Please note: the NYC HPD is the only authoritative source for information on housing violations.
Please consult the HPD web site for up-to-date violations.
PropertyShark obtains its records from HPD and updates them monthly.
Population density is the number of persons per unit of area.
Commonly this may be calculated for a city, county, state, or the
entire world.
In this map, view the density of the New York City population.
Legend
Click on the map to expand!
Population Median Age
The median age marks the point where half the population is older
than that age and half is younger.
This color-coded map shows the distribution of the median age of
the population
Legend
Click on the map to expand!
Median Household Income
Median household income is used to provide data about geographic
areas and divides households into two equal segments with the
first half of households earning less than the median household
income.
View in this map the distribution of the median household income
for New York City.
You can order a Toxics Targeting Report to compile
detailed environmental information on or around any home,
business or property in New York.
It maps and profiles up to 19 categories of toxic sites
at varying distances as far as one mile away.
The full report will pinpoint many more sites than the screening maps.
How to get a Full Toxics Property Report:
Toxics Targeting's reports ($150.00 each)
help buyers conduct due diligence or Phase I environmental site assessments
required by mortgage lenders.
You can order on-line
or by calling 718-715-1758.
For more informations visit www.toxicstargeting.com
To understand flood zoning within the current
neighborhood you can review the full map by clicking
on this 'minimap'. Flood zoning codes, Fema map panal,
and publication date all can be extracted for this
target property.
You can now include mini-reports on your own website. Click here to get the code you need to include for 321 Clinton Ave, Brooklyn, NY 11205
Disclaimer
Copyright 2003-2010 by Property Research Partners LLC
All data comes from government sources. No attempt has been made to validate it.
No attempt has been made to validate the accuracy of the programming of this web site.
Do not rely on this report to support investment decisions. The only authoritative source for the
information in this report is the government agencies from which the data was acquired.
Recent Sale Date: 3/14/1984
