New York State's estate tax is calculated using the tax table provided on Form ET706. There are multiple versions of Form ET-706.The property tax is an ad valorem tax, meaning that it is based on the value of real property. New York has some of the highest sales and property tax rates in the country, though rates vary depending on where you live within the state. The Estate Tax is a tax on your right to transfer property at your death. STAR is the New York State School Tax Relief program that provides an exemption from school property taxes for owner-occupied, primary residences. Find out how much you'll pay in New York state income taxes given your annual income. Customize using your filing status, deductions, exemptions and more.