The roll addendum, and what a Phase One value is

On July 24, 2026, the Department of Finance published a supplemental market value roll, an addendum to the assessment roll. It lists properties that may be subject to the surcharge, and it carries Phase One values.

What is an addendum?

The assessment roll is the city's published record of what each property is worth for tax purposes. This addendum is the surcharge layer on top of that record: which properties the Department of Finance has flagged, and at what value.

What does Phase One mean?

Phase One covers fiscal years 2026-27 and 2027-28. In that window, condominium and cooperative units are reached at a Department of Finance market value of $1 million or more on a three-band ladder, and one- to three-family homes above $5 million on a separate ladder.

The rate that applies runs against the entire market value once the threshold is crossed, not against the amount above it. That is why the value printed on the addendum, rather than the distance between that value and a threshold, is the number to read.

This version is not the last one

A final addendum is due December 31, 2026. Practitioners have advised owners to check the July list now rather than wait for the December version.