Calculating RE Taxes using NOI

[Daniel Rojo]

Hi all — I've been reading and listening for a few weeks now, but haven't dove into posting anything yet, but I've hit a problem and am turning to the community as so many times suggested.

Nerdy questions, but I'm trying to calculate future real estate taxes for a property in New York City using the NYC Department of Finances' method, which uses their set cap rate applied to NOI to come up with a market value that they then apply a tax rate to. My problem is, doesn't NOI include real estate taxes? I'm trapped in a circular loop where I need estimated property taxes to calculate NOI but I need NOI to calculate property taxes. Any thoughts?

Thanks!
Daniel