NYC Property Tax

NYC Dept. of Finance Issues First CBN of 2026

NYC Dept. of Finance Issues First CBN of 2026

Published 2/13/2026 at 10:46 AM

By: Benjamin M. Williams

The New York City Department of Finance (DOF) recently issued its first Change by Notice (CBN)—also known as a “Revised Notice of Property Value” (RNOPV)—for the 2026/27 tax year. Below is a summary of what CBNs are, why DOF issues them, and a snapshot of the key changes reflected in this year’s first batch of updates.

 1. What Are CBNs (Revised Notices of Property Value)?

CBN stands for “Change by Notice,” and it is DOF’s official way of notifying property owners of mid‐cycle changes to their tentative property tax assessments. While DOF publishes a tentative assessment roll on January 15 each year and a final roll on May 25, it has the legal authority—under NYC Charter §1512—to revise values in the interim when:

  • New or corrected property information comes to light (e.g., new construction or demolition).
  • Ownership or exemption statuses change (e.g., a fully exempt property moving back onto the taxable roll).
  • Data errors or administrative reviews require corrections.

Whenever DOF revises a property’s assessed value or exemption after January 15 (and before the roll closes on May 25), it sends the owner a “Revised Notice of Property Value”—the very reason these changes are called “Changes by Notice.”

 2. When and Why DOF Issues CBNs

Historically, DOF issues several batches of CBNs—often five rounds—spaced roughly 3–4 weeks apart between mid‐February and mid‐May. Each batch reflects DOF’s ongoing work to finalize values, capture newly reported construction, correct data, or adjust exemptions.

  • Mid‐February: First round
  • Mid‐March, Early April, Late April, Mid–May: Typical subsequent rounds

For 2026, the first CBN register was posted on February 11, 2026, with notices dated and mailed February 13, 2026.

 3. Highlights from the First 2026 CBN

  • Overall Scope
    • 36,086 tax lots were changed in this CBN.
  • Market Value Increases (Excluding New Lots)
    • 27,327 tax lots received market value increases (excluding newly created lots), totaling approximately +$808.5 million.
    • Of those, approximately 128 lots were Con Edison properties, totaling approximately +$186.4 million in market value increases—about 23% of the $808.5 million total.
    • The largest market value increase (approximately +$63.5 million) was attributed to ConEd’s Corona Substation at 55th Avenue and 98th Street.
  • Apportionments and Newly Created Lots
    • 479 newly created lots appear on the register—likely due to lot apportionments—totaling approximately +$480 million in market value.
  • Exemption Adjustments (No Market Value Change)
    • 4,787 tax lots had changes in exemption with no change in market value.
  • Tax Class Breakdown
    • Tax class 1: 3,787 lots
    • Tax class 2: 25,959 lots
    • Tax class 3: 69 lots
    • Tax class 4: 6,281 lots
  • Taxable Assessed Value Increases (Tax Class 1 and 2)
    • The February CBN is typically when DOF increases the taxable assessed values of tax class 1 and 2 properties.
    • Excluding newly created lots, 16,496 tax class 1 and 2 lots received taxable assessed value increases.
  • Comparison to Last Year
    • The first CBN of 2025 encompassed 12,943 tax lots—meaning the first CBN of 2026 is substantially larger.

 

 4. Looking Ahead: Additional 2026 CBNs

Based on prior years’ schedules, expect the next CBN postings (and mailings) in roughly:

  • Mid‐March (around March 13–16)
  • Early April (around April 3–6)
  • Late April (around April 21–23)
  • Mid–Late May (around May 15–19)

Exact dates can shift, but these ranges offer a good idea of when you might see further assessment changes if DOF identifies additional data or corrections.

5. Key Takeaways for Property Owners

  1. Monitor Your Assessment
    If you receive a Revised Notice of Property Value, review it carefully. Changes can affect your property tax liability—sometimes raising it if DOF increased the assessed value or reduced or removed a prior exemption.
  2. Appeal/Challenge Deadline
    Owners who disagree with the revised values typically have 20 days from the date of the revised notice to file for correction with the NYC Tax Commission (unless the CBN was mailed on or before February 1). Always check the appeal date on the notice itself. The 2026 Tax Commission application filing deadlines are March 2, 2026 for tax classes 2, 3, and 4, and March 15, 2026 for tax class 1.
  3. Check Exemptions
    With thousands of exemption changes in this first CBN alone, ensure your property has the exemptions it is entitled to. If you lost an exemption or see a discrepancy, you may need to contact DOF or refile.
  4. Expect Ongoing Updates
    DOF continuously refines the roll until it’s finalized on May 25, so additional CBNs may affect you even if you didn’t get one in the first round.

In Summary

This year’s first Change by Notice shows 36,086 lots getting updates—a combination of market value changes, exemption adjustments, and newly created lots. If your property appears in this CBN (or if you are simply keeping tabs on your assessment), be sure to review any updated notice promptly in case you need to file a Tax Commission application or address an exemption issue before the final roll closes.

As a general next step, review your NOPV/RNOPV carefully, and if anything looks incorrect, contact your property tax attorney or representative to discuss what (if anything) should be done.

Read about last year’s: NYC Dept. of Finance Issues First CBN of 2025

Disclaimer: This blog post is provided for general informational purposes only and does not constitute legal advice. It is not intended to be relied on, and you should consult a qualified attorney or property tax representative regarding your specific circumstances.