The Department of Finance administers a number of property related benefits including in the form of Exemptions and Abatements. Exemptions lower the amount of tax you owe by reducing your property’s assessed value. Abatements reduce your taxes by applying credits to the amount of taxes you owe.
The New York City Department of Finance (DOF) is responsible for administering the tax revenue laws of the city fairly, efficiently, and transparently to instill public confidence and encourage compliance while providing exceptional customer service. The Department of Finance (DOF) collects more than $33.2 billion in revenue for the City and values more than one million properties worth a total market value of $988 billion.