Colonie, Albany County, New York Property Taxes

Name: Property Tax Bills Across Colonie, Albany County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Colonie, NY effective property tax rate: 2.47%, significantly higher than the national median of 1.02% but slightly higher than the New York state median of 2.39%. Median Colonie, NY home value: $157,938. Median annual Colonie, NY tax bill: $3,826, $1,426 higher than the national median property tax bill of $2,400. How are property taxes in Albany calculated? Property taxes in Colonie, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Colonie’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Colonie, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Colonie, Albany County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.47%

Estimate Property Tax Bill

$3,901

$3,620

Ownwell’s Colonie Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Colonie with just two data points. By entering your property's estimated assessed value, our calculator applies Colonie’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Albany County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Colonie, Albany County, New York

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Colonie in Albany County, NY, presents a compelling case study in property tax rates. The effective property tax rate in Colonie stands at 2.47%, significantly higher than the national median property tax rate of 1.02%. This places Colonie among the higher property tax regions in the United States.

When comparing Colonie’s property tax rate to the broader state average, it aligns closely with New York’s median, which is also 2.47%. This consistency within the state highlights the uniform approach to property tax assessments in this area. For homeowners in Colonie, understanding these rates is crucial for financial planning and maximizing potential savings through tax appeals or exemptions. By staying informed, residents can make educated decisions to manage their property tax liabilities effectively.

Property Tax Rates Across Colonie, Albany County, New York

Source: Ownwell

0.73%

1.97%

3.20%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Colonie Tax Rate

2.47%

Median Effective Albany County Tax Rate

2.39%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Colonie, Albany County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12110	N/A	N/A	N/A	N/A	N/A
12205	2.16%	2.16%	2.47%	2.51%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Colonie, Albany County, New York

When examining property taxes in Colonie, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Albany County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Albany County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Colonie. For example, the median home price in Colonie is $157,938, with tax bills ranging significantly across the county. Zip code 12205 has the highest median home price at $158,027.

Property Tax Assessment Values Across Colonie, Albany County, New York

Source: Ownwell

$94,079

$238,900

$383,721

Median Colonie Market Value

$157,938

Median Albany County Market Value

$213,453

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Colonie, Albany County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12110	N/A	N/A	N/A	N/A	N/A
12205	$127,354	$139,910	$158,027	$186,547	$206,974

Source: Ownwell

Property Tax Bills Across Colonie, Albany County, New York

In Colonie, Albany County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property location, size, and improvements can influence the assessed value. The median property tax bill in Colonie is $3,827, notably higher than the national median of $2,400. Homeowners at the 25th percentile pay around $3,306, while those at the 75th percentile pay $4,332, and the 90th percentile reaches $4,942. Such high tax bills can significantly impact homeowners' budgets. Ownwell offers a solution by providing property tax appeal services to help homeowners reduce their tax burdens. Through expert analysis and strategic appeals, Ownwell can identify opportunities for tax reductions, ensuring that homeowners pay only their fair share. By leveraging Ownwell's expertise, homeowners can potentially save hundreds or even thousands of dollars on their property tax bills.

Property Tax Bills Across Colonie, Albany County, New York

Source: Ownwell

$1,107

$4,878

$8,648

Median Colonie Tax Bill

$3,826

Median Albany County Tax Bill

$4,990

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Colonie, Albany County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12110	N/A	N/A	N/A	N/A	N/A
12205	$2,955	$3,306	$3,827	$4,333	$4,943

Source: Ownwell

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Dates

Links
Albany Assessment Review Commission
Website	albany.sdgnys.com