🏡 How to Lower Your Property Taxes in Brooklyn: A Smart Homeowner's Guide

How to Lower Your Property Taxes in Brooklyn: A Smart Homeowner's Guide

For many Brooklyn homeowners, property taxes are one of the largest and least understood expenses. With home values rising, especially across neighborhoods like Park Slope, Bay Ridge, and Carroll Gardens, tax bills often feel like a moving target — and not always in your favor.

But here’s the truth: you may be overpaying, and the good news is, you have options.

1. Review Your Property Tax Assessment

Your first step? Check your assessment.
Every year, NYC’s Department of Finance releases property valuations. These assessments aren’t always accurate — especially when it comes to:

• Square footage errors

• Nonexistent rooms or bathrooms

• Misclassified property use

A mistake in your home’s recorded size or condition can increase your tax bill by thousands. If something doesn’t look right, file an appeal as soon as possible through the NYC Tax Commission. Deadlines matter.

🗂 NYC Tax Commission Appeal Info

2. Claim Every Exemption You Qualify For

New York City offers a variety of property tax exemptions — but many homeowners don’t realize they qualify. Here are just a few to explore:

• STAR (School Tax Relief)

• Senior Citizen Homeowners’ Exemption (SCHE)

• Veterans Exemption

• Disability Exemption

• Clergy and nonprofit-use exemptions

• Primary Residence/Homeowner Exemption

Filing is not automatic — you must submit the right documentation to the Department of Finance. If you’re not sure where to start, a real estate professional or tax consultant can walk you through it.

📍NYC Property Tax Exemption Programs

3. Be Strategic with Renovations

Before you upgrade your brownstone’s basement or add a second story, consider this: major renovations can trigger a reassessment. This means the city may re-evaluate your property’s value and increase your taxes — even if you haven’t added square footage.

To avoid sticker shock, consult a real estate expert or architect before beginning construction. Sometimes, less is more — especially if your long-term plan includes selling.

4. Compare Your Home to Others Nearby

If your property is assessed significantly higher than similar homes on your block, you may have a strong case for appeal.

📸 Gather supporting evidence such as:

• Recent appraisals

• MLS comparables

• Photos of the property’s interior and exterior

• Contractor estimates if your home needs repairs

This documentation strengthens your case and may lead to a substantial reduction in your tax bill.

5. Don’t Go It Alone

Tax consultants, real estate attorneys, and experienced brokers can help you navigate the appeal process. Many professionals only charge if they succeed in reducing your taxes.

At Pen Realty, we connect Brooklyn homeowners with trusted tax professionals — because protecting your home’s equity is part of A Signature Experience.

Your Next Move Starts Here

Don’t let confusion — or fear — stop you from taking control of your property taxes. Whether you're planning to stay long-term, refinance, or sell, lowering your tax burden helps protect your bottom line.

✅ Want to review your assessment together? Visit https://penrealty.net to get started.
💜 And if you’re passionate about community care, please consider supporting dementia services through our partnership with CaringKind NYC.

📲 Subscribe for more Brooklyn homeowner tips