Insights

New York City Property Tax Alert: 2025/2026 Tentative Assessment Rolls Released

January 15, 2025

The New York City Department of Finance ("DOF") has released the 2025/2026 tentative assessment roll. Click here to access: NYC Finance ("Home Page").

  • You will need to enter either the relevant Borough/Block/Lot or property address.
  • The tentative assessment will appear on the left side of the screen under “Market Values & Assessments”.
  • You may review the “Notice of Property Value” dated January 15, 2025, for further detail.

Exemptions/Abatements

Abatements, including ICAP, do not appear on the Notice of Property Value ("NOPV") or the tentative assessment roll. Exemptions including 421-a shall appear within the NOPV and the tentative assessment roll. You may also confirm benefit status by clicking on the relevant “Benefits” link on your property’s Home Page.

Progress Assessments

Property owners should be mindful that the "Progress Law" requires the removal of the building portion of the tax assessment for new buildings in the course of construction for upwards of three years after commencement of construction depending upon the estimated completion of the construction date, property type and other relevant factors.

Final Assessment Roll

The tentative assessment roll will be finalized by mid-May 2025. Until finalized, the tentative assessment roll remains subject to change. Therefore, it is important to review the assessment roll for clerical errors including those in property description and missing exemptions.

Legal Assistance

  • Clerical Errors and Administrative Review: There is a finite period to challenge the tentative assessment roll via administrative means with DOF. Herrick can assist you with administrative challenges.
  • Exemptions/Abatement: Particular tax benefits require a careful review of tentative assessment roll to ensure maximizing incentive-based savings.
  • Update Tax Projections and Opinions: Herrick can update previously provided tax projections and opinions upon request.

Please let Brett Gottlieb know if he can be of assistance in this regard or the review of your 2025/2026 tentative assessment and applicable property tax benefit.


For more information on real estate or real estate tax incentive matters, please contact:

Brett J. Gottlieb at 212 592 1455 or [email protected]

© 2025 Herrick, Feinstein LLP. This alert is provided by Herrick, Feinstein LLP to keep its clients and other interested parties informed of current legal developments that may affect or otherwise be of interest to them. The information is not intended as legal advice or legal opinion and should not be construed as such.