Selkirk, Albany County, New York Property Taxes
The median property tax rate in Selkirk, NY is 0.81%, which is lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Selkirk at $229,186, the typical annual property tax bill is $1,892, falling below the national median of $2,690. Property taxes in Selkirk are calculated based on the tax assessed value, which often comes in lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Selkirk's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Selkirk or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Selkirk, Albany County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,856
$1,723
Ownwell’s Selkirk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Selkirk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Selkirk to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Selkirk, Albany County, New York
Property taxes in Selkirk, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Selkirk is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Selkirk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Selkirk estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Selkirk's effective property tax rate to other areas in Albany County and the national median. For comparison, the zip code 12158 has both the highest and the lowest median property tax rate of 0.81%. Understanding how these areas compare with Selkirk provides valuable insights into the varying tax landscape across Albany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Selkirk Tax Rate
0.81%
Average Albany County Tax Rate
2.39%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Selkirk, Albany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12158 | 0.67% | 0.74% | 0.81% | 1.39% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Selkirk, Albany County, New York
In Selkirk, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Albany County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Selkirk, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Selkirk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Selkirk is $229,186, with the highest and lowest median tax bills both recorded at $1,892 in the 12158 zip code.
Property Tax Assessment Values Across Selkirk, Albany County, New York
Source: Ownwell
$94,079
$238,900
$383,721
Average Selkirk Assessed Value
$229,186
Average Albany County Assessed Value
$213,453
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Selkirk, Albany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12158 | $124,866 | $172,093 | $229,186 | $299,913 | $396,512 |
Source: Ownwell
Property Tax Bills Across Selkirk, Albany County, New York
Property tax bills in Selkirk, Albany County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. For homeowners in Selkirk, the tax bill can vary significantly. For example, the 25th percentile tax bill is around $1,308, while the 75th percentile reaches $3,927. At the higher end, the 90th percentile tax bill can be as much as $7,535. These taxes fund essential local services such as schools, emergency services, and public infrastructure. While the national median property tax rate is 0.99%, the specific rates in Selkirk can differ, impacting homeowners' annual expenses and influencing their overall cost of living.
Average Selkirk Tax Bill
$1,892
Average Albany County Tax Bill
$4,990
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Selkirk, Albany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12158 | $863 | $1,308 | $1,892 | $3,927 | $7,535 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Albany Assessment Review Commission | |
| Website | albany.sdgnys.com |