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Village of Rye Brook Offices
938 King Street
Rye Brook, NY 10573
Hours: M-F 8:30 AM-4:30 PM
Building Dept. @ 3:30 PM
Tel: (914) 939-1121

August 25, 2019
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The Homestead Tax Option - Q&A
Release Date: January 26, 2005

In a number of places in New York State, assessments of residential property frequently have been at a lower percentage of market (full) value than other types of property, such as commercial and industrial property. When a town or city with this situation decided to conduct a property revaluation to achieve correct and fair assessments, the residential properties, as a class, would bear a much larger share of the tax burden. This discouraged other municipalities with similar situations from conducting their own property revaluations. As a result of the concern for tax-burden shifts to homeowners, a State law was passed in 1981 establishing the Homestead Tax Option.

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