New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NYC Continues to Top List of U.S. Cities with Highest Taxes
The latest ranking of U.S. office assets with the highest property taxes shows that, as expected, New York City dominates the list with 82 out of the top 100 properties in the ranking, according to data from PropertyShark and CommercialEdge.
In 2022, New York City’s office properties generated approximately $2.2 billion in property tax revenue, accounting for 84% of the total contributed by all 100 properties. In terms of the highest tax-paying office buildings outside of New York City, Chicago dominated the list, with 17 of the top 20 entries. The wind city had 15 entries that generated $344 million in total property taxes.
San Francisco and Washington, D.C. only managed to get three properties in the ranking. The data highlights the significant contribution of office properties to local and state economies and the varying tax burdens across different regions of the U.S.
