New York City's taxable property market value rose 5.4% to nearly $1.574 trillion in fiscal year 2026, with Staten Island leading growth at 7.7%. Class One residential property values increased 5.8%, while Class Two properties grew 6.9%. The total property tax levy rose 3% to nearly $38 billion. Property tax delinquencies dropped to 1.81%, aided by a lien sale. New applicants can no longer apply for the STAR exemption, shifting to a state credit program.