RESERVE NEW YORK TAX EXEMPT TRUST, 497J, 2000-08-04

RESERVE NEW YORK TAX EXEMPT TRUST
497J, 2000-08-04

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                         [THE RESERVE FUNDS LETTERHEAD]

VIA EDGAR

August 4, 2000

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

          RE:  RESERVE NEW YORK TAX-EXEMPT TRUST
               1933 ACT FILE NO. 2-85406 AND 1940 ACT FILE NO. 811-3814

Dear Sirs:

          Pursuant to Rule 497(j) under the Securities Act of 1933, as amended,
I hereby certify on behalf of Reserve New York Tax-Exempt Trust ("Registrant"),
a registered management investment company (the "Trust"), that the form of the
Prospectus and Statement of Additional Information for the Trust and its
investment series that would have been filed under Rule 497(c) does not
substantively differ from that contained in the Trust's Post-Effective Amendment
No. 26 to its Registration Statement on Form N-1A, which was filed
electronically with the Commission on July 31, 2000.

                                 Very truly yours,
                                 /s/ MaryKathleen F. Gaza
                                 Name:    MaryKathleen F. Gaza
                                 Title:   General Counsel