What is included in Tax Class 2 (TC 2)?

Tax Class 2 (TC 2) includes residential properties with more than three units, such as apartment buildings and multi-family dwellings. This classification is specifically designed to manage the assessment and taxation of larger residential properties that serve multiple households.

In New York City, properties are grouped into different tax classes based on their usage and characteristics. Properties classified under TC 2 are significant in number and represent a substantial portion of the housing available in the city; they are subject to specific tax rates and regulations aimed at ensuring equitable taxation for larger residential buildings.

The other types of properties mentioned in the various choices correspond to different tax classes: utility company equipment falls under a different classification, while one to three unit residential properties are classified under TC 1, which is distinct from TC 2. Lastly, "all other real property" generally pertains to properties that do not fit into the specified classifications of utility, residential, or commercial, but is not accurate for TC 2.