If the combined annual property tax amount for all of your properties is $300,000 or more, all of your property taxes must be paid by Electronic Funds Transfer (EFT). You can make EFT payments using a Fed Wire, ACH Debit or ACH Credit from your bank account.
If you are required to pay by EFT, all of your payments must be by EFT no matter how much they are for.
If you pay less than $300,000 in combined annual property taxes for all of your properties, we still encourage you to pay by EFT.
EFT Payment Methods
You can pay one of three ways:
If you cannot use any of the EFT payment methods, or make promised payments by EFT due to a hardship, you must complete an EFT Waiver Request form at least 30 days before your payment due date. The waiver is granted at the discretion of the Commissioner of Finance based on many factors, including the nature of the hardship and the length of time requested. If the waiver is granted, you will not have to pay using EFT; however, you must still pay your property taxes by mail or by visiting a Finance Business Center.
Penalties For Not Filing by EFT If Required
If you do not file a waiver request, or if your waiver request is denied and you do not make the required EFT payment, we can issue you a warning notice on all payments that should have been made by EFT. Interest is also charged on both the unpaid taxes and the penalty. If you do not pay your taxes in full, your property may be put into a tax lien sale.
For more information download Finance Memorandum 05-2-R (Mandatory Payment of Real Property Taxes by Electronic Funds Transfer.)
Frequently Asked Questions
For help with EFT payments and technical information, visit NYCeFile.
How do I know that I am required to pay by EFT?
If your combined property taxes for all of your properties is $300,000 or more, than you must pay by EFT.
What is considered "Timely EFT payment?"
You must make your payment on or before the tax due date. For automatic payments, we must be authorized to withdraw the tax amount by the tax due date. Your bank account must have enough money to pay the amount due.
What if the Transaction does not go through?
If the money in the bank account does not cover the amount due, or the account information is not correct, penalties and interest may be added. Interest will be applied from the due date and continue to be added until you pay what you owe. You will also be charged $20.00 for each failed attempt to withdraw the money from your account.
How can I prove payment was made by the due date?
You should always print the confirmation at the end of a successful transaction for your records. This will serve as proof that that you paid on time.