The first roll, as published
On 24 July 2026 the NYC Department of Finance published the supplemental market value roll for its new non-primary residence property surcharge. This page records what was in it, so the figures stay citable after the news cycle and after DOF publishes its next roll.
What was on it
| Property type | Count | Threshold | Rate on the full value |
|---|---|---|---|
| Condominium | 12,425 | ≥ $1M | 4.0% / 5.25% / 6.5% |
| Co-operative | 12,354 | ≥ $1M | 4.0% / 5.25% / 6.5% |
| 1–3 family home | 6,762 | > $5M | 0.8% / 1.05% / 1.3% |
| Total | 31,541 |
The $1M condominium and co-op line catches 3.66× more properties than the $5M house line. That asymmetry, not the mansion-tax framing the name suggests, is the defining fact of this roll.
Four things the roll shows that the coverage mostly missed
1. The rate is a notch, not a bracket
It is a flat percentage of the full DOF market value for whichever band the property lands in, not a marginal rate on the amount above a threshold. A condominium at $2,999,999 pays 4% of the whole value; at $3,000,001 it pays 5.25% of the whole value, about $52,000 a year more for one dollar. Every band edge is therefore a cliff: 5,959 properties sit within 10% above one, with roughly $324 million a year between them riding on a revaluation.
2. Most of the roll is expected never to be collected
Priced as though nobody is exempt, the roll is worth about $2.90 billion a year. The city's own revenue estimate is around $500 million. The gap is the share DOF expects to be exempted, roughly five of every six dollars. Which five is not knowable from public data, because the surcharge turns on primary residence and no public record establishes it.
3. Co-ops are buildings, and most of them owe nothing
DOF assesses a co-operative as one parcel for the whole building, so the building's total value puts it on the roll, but the threshold applies per apartment. Of 6,011 co-op buildings on the roll, 5,525 fall under the $1M-per-apartment line and owe nothing; only 486 are charged. Co-op City is assessed across 10,914 apartments, about $56,000 each. Reading the parcel total as one apartment would charge moderate-income housing tens of millions.
4. DOF's values are not sale prices, by law
State law requires DOF to value condominiums and co-operatives from comparable rental income. Across the roll, recorded sales came in at a median 2.81× DOF's value for condominiums and 2.95× for co-operatives, while 1–3 family homes, which are valued toward sale value, landed at 0.83×. That last figure is the control: it shows the first two are a methodology difference, not undervaluation.
Sources
- DOF: Property Assessments ↗, supplemental market value roll, published 24 July 2026 (tax class 1 and 2 archives)
- DOF: non-primary residence surcharge ↗, rules, rate table, exemptions
- DOF Property Valuation and Assessment Data (
8y4t-faws), FY2027, giving taxable assessed values and co-op apartment counts - DOF Citywide Annualized Calendar Sales (
w2pb-icbu), recorded sales from 2019 - Dept. of City Planning PLUTO (
64uk-42ks), coordinates and building context - NYC Tax Commission: Surcharge Appeal ↗, appeal deadlines and grounds
Using these figures
Every number here is computed from the published roll rather than asserted, and the method behind each is documented in the app's methodology page, which has its own URL so a section of it can be cited. The full filtered dataset exports to CSV from the app, with the rate band, the formula and the explanation on every row.
If you are a reporter and want a cut of this that is not in the app, the underlying files are all free and linked above. Or just ask, and it is usually a one-line query.
Open the roll →Appeal deadlines run to March 2027 → · The exemption routes →