NYC CITY ASSESSOR FINAL EXAM
QUESTIONS AND ANSWERS 2026/2027
1. Under the NYC property tax system, which property class includes residential properties
with three units or less?
A. Class 2
B. Class 4
C. Class 3
D. Class 1
Answer: D
Conceptual Explanation: Class 1 consists of most residential property of one, two, and
three units, including vacant land zoned for residential use in most areas.
2. What is the mandated assessment ratio for Class 1 properties in New York City?
A. 6%
B. 45%
C. 15%
,D. 8%
Answer: A
Conceptual Explanation: Class 1 properties are assessed at 6% of their market value.
3. For Class 2 and Class 4 properties, the target assessment ratio is currently set at:
A. 10%
B. 25%
C. 6%
D. 45%
Answer: D
Conceptual Explanation: Properties in Class 2 and Class 4 are assessed at 45% of their
market value.
4. Which New York State law requires that cooperatives and condominiums be valued as if
they were rental properties?
A. RPTL Section 421-a
B. RPTL Section 581
C. RPTL Section 730
D. General Municipal Law Section 50-i
Answer: B
, Conceptual Explanation: Real Property Tax Law Section 581 mandates that condos and
coops (except for those in Class 1) must be valued as if they were residential rental
buildings.
5. What is the ‘Taxable Status Date’ for real property in New York City?
A. July 1st
B. January 5th
C. March 1st
D. December 31st
Answer: B
Conceptual Explanation: In NYC, the Taxable Status Date is January 5th, which determines
the property’s condition and ownership for the upcoming tax year.
6. What is the maximum allowable increase in the assessed value of a Class 1 property in a
single year, excluding physical changes?
A. 8%
B. 20%
C. 6%
D. 5%
Answer: C
QUESTIONS AND ANSWERS 2026/2027
1. Under the NYC property tax system, which property class includes residential properties
with three units or less?
A. Class 2
B. Class 4
C. Class 3
D. Class 1
Answer: D
Conceptual Explanation: Class 1 consists of most residential property of one, two, and
three units, including vacant land zoned for residential use in most areas.
2. What is the mandated assessment ratio for Class 1 properties in New York City?
A. 6%
B. 45%
C. 15%
,D. 8%
Answer: A
Conceptual Explanation: Class 1 properties are assessed at 6% of their market value.
3. For Class 2 and Class 4 properties, the target assessment ratio is currently set at:
A. 10%
B. 25%
C. 6%
D. 45%
Answer: D
Conceptual Explanation: Properties in Class 2 and Class 4 are assessed at 45% of their
market value.
4. Which New York State law requires that cooperatives and condominiums be valued as if
they were rental properties?
A. RPTL Section 421-a
B. RPTL Section 581
C. RPTL Section 730
D. General Municipal Law Section 50-i
Answer: B
, Conceptual Explanation: Real Property Tax Law Section 581 mandates that condos and
coops (except for those in Class 1) must be valued as if they were residential rental
buildings.
5. What is the ‘Taxable Status Date’ for real property in New York City?
A. July 1st
B. January 5th
C. March 1st
D. December 31st
Answer: B
Conceptual Explanation: In NYC, the Taxable Status Date is January 5th, which determines
the property’s condition and ownership for the upcoming tax year.
6. What is the maximum allowable increase in the assessed value of a Class 1 property in a
single year, excluding physical changes?
A. 8%
B. 20%
C. 6%
D. 5%
Answer: C
