What does a Notice of Property Value actually tell you?
Updated 2026-08-27.
It arrives on or about January 15, nothing is due on it, and it is the only document that shows what the city has decided about your property before that decision starts being billed.
What is printed on it?
- A description of the property: the size of any improvements in square feet, the size of the land in square feet, the number of residential units, the number of non-residential units such as stores or offices, and the number of floors.
- The name of the property owner, and the street address.
- The estimated market value of the property.
- The tentative assessed value, determined by Finance.
- The tax class, determined by Finance.
- Information about applicable exemptions: STAR, senior citizen, veteran's, disability, clergy, J51, 421A or nonprofit.
Why does a January notice matter in March?
The Tax Commission's own description of the timing: owners receive a Notice of Property Value from Finance on or about January 15, and it carries assessment information applicable to the tax year that begins the following July 1 and runs to June 30 of the year after that. The window for challenging it closes in early March. Six weeks, and they are the only six weeks that count.
The one correction Finance owns, and nobody else
A wrong description is not a Tax Commission matter. The Tax Commission's instruction is explicit: if any of that information is incorrect, you must contact Finance, not the Tax Commission, and request that the information be corrected. Square footage, unit counts and floors are Finance's record to fix, and the fix is a Request for Review.
What if a revised notice arrives later?
A Revised Notice of Property Value dated after February 1 can shorten the calendar rather than extend it. If the revised notice increases the assessed value, or reduces or removes an exemption, the deadline to file with the Tax Commission becomes 20 calendar days after the date of that notice, instead of the March dates. A revision that lowers the value does not trigger it.
What does it cost to have it read?
Nothing to ask. MGNY Consulting has worked in NYC property tax since 2008 and files these every season: 212-343-1111. The filing mechanics are on the Tax Commission page, and the full calendar is on the deadlines page.