Which buildings pay the most tax? You’ll find the most costly ones in NYC

general motors building
he 49-year-old, 50-story office building at 767 Fifth Ave. is one of Manhattan‘s most recognizable–and most expensive–office gems. Property owners Boston Properties, Zhang Xin and the Safra family shelled out nearly $72 million on property taxes in 2016, making the General Motors Building the top taxpaying building in the U.S.

The Commercialcafe.com blog has compiled a list of the top 100 taxpaying properties in the US and most of the most costly properties indeed are in New York City.

In fact, 83 of the top taxed properties are in Manhattan and The Avenue of the Americas seems to be the most expensive street in the U.S.–15 properties on the list are located here, commanding a total of $443 million in property taxes in 2016. The NYC property owners managed to pay $2 million in taxes in the past year.

These results should not be surprising.

he New York City commercial real estate market remains the destination of choice for national and offshore investors alike, and some of the largest corporations in the world are based there. However, there are a few properties outside of New York that also fork over big wads of cash on taxes every year. Some you’ll recognize, and some might surprise you, but they all earned a spot on our list of the top 100 taxpaying properties in the U.S.

The blog’s publishers used public records to compile a list of the 100 buildings that paid the highest property taxes in the U.S. in 2016 (see ‘Methodology’ for details). The results are a mixed bag: The list includes office buildings, apartment buildings, mall and entertainment parks and industrial properties, scattered across nine different states.

In case you are wondering, some landmark buildings are not on the list including One World Trade Center, Woolworth Building and the Chrysler Building because they are tax exempt.



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