Nassau & Suffolk Counties, New York Nassau grievance deadline March 31, 2027Nassau grievance deadline Mar 31
Long Island Property Tax
Tool · Buyers

Long Island PITI and tax escrow calculator

The real monthly cost of a Long Island home: principal, interest, property tax and insurance. Unlike generic PITI tools, this one drops the seller’s exemptions and uses the parcel’s actual school district rate, so you see what you’ll pay, not what they pay.

Your numbers

Type to search, then pick a parcel to use its school district’s rate.

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Property tax

What about exemptions? The calculator removes the previous owner’s STAR, senior and veteran exemptions, because they don’t transfer to you. Register your own STAR after closing for roughly $300–$700 a year off (Basic), or up to $1,500 (Enhanced STAR, 65+).

Estimated monthly payment

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Principal and interest—
Property tax (escrow)—
Homeowner’s insurance—
PMI—
HOA—

Loan summary

Loan amount—
Down payment —
Interest over 30 years—
Total cost over 30 years—

How we estimate a new buyer’s property tax: we apply the parcel’s combined tax rate to the full market value implied by your purchase price. Long Island towns don’t usually reassess on a sale, but the assessor’s value can lag the market. Existing exemptions are removed because they don’t transfer. PMI defaults to $0; lenders typically charge 0.5–1% of the loan a year under 20% down. Insurance is a rule of thumb (about 0.5% of value a year), so get a real quote. Estimate only, not financial advice.

How it works

How PITI works on Long Island

Lenders usually require a tax and insurance escrow: you pay a twelfth of the annual property tax and insurance with each mortgage payment, and the bank pays the bills when they’re due (Nassau: school taxes in October and April, general taxes in January and July; Suffolk: two halves).

On Long Island, property tax is usually the second-largest line in the monthly cost after principal and interest. On a $750,000 home in a typical district, the tax escrow alone can run $1,800 to $2,500 a month, often close to the loan payment itself.

Why most PITI calculators are wrong here

  • They use the seller’s bill. Listings show the current owner’s reduced bill, after STAR, senior and veteran exemptions. Yours will be higher.
  • They use national tax estimates. Long Island rates vary three- to fivefold between districts.
  • They ignore exemptions rolling off. A 70-year-old seller with Enhanced STAR and a senior exemption can pay half what a new buyer will.
Buyer’s property tax guideWhat changes after closing. After closingA month-by-month timeline. STAR after buyingRegister quickly. Payment scheduleNassau and Suffolk.