Troy, Rensselaer County, New York Property Taxes

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

Median Troy, NY effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Troy, NY home value: $175,481
Median annual Troy, NY tax bill: $4,270, $1,870 higher than the national median property tax bill of $2,400.

How are property taxes in Rensselaer calculated?

Property taxes in Troy, 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 Troy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troy, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Troy, Rensselaer County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.49%

Estimate Property Tax Bill

$4,369

$4,055

Ownwell’s Troy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Troy with just two data points. By entering your property's estimated assessed value, our calculator applies Troy’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 Rensselaer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Troy, Rensselaer County, New York

Local government entities set tax rates, which can vary widely within a state. This variation is due to the annual process where each county estimates its required budget to provide essential services. They then divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting these rates and budgets, this calculation forms the core of the process.

In Troy, located in Rensselaer County, the effective property tax rate is 2.49%, which is significantly higher than the national median of 1.02%. This places it among the higher tax rates within New York State, where rates can vary even within the same county. For instance, the highest median tax rate in the area is 2.52% in zip code 12180, while the lowest is 2.47% in zip code 12182. Comparing these figures to the national median property tax bill of $2,400 highlights the substantial differences in property tax burdens across different regions.

Property Tax Rates Across Troy, Rensselaer County, New York

Source: Ownwell

2.02%

2.68%

3.35%

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 Troy Tax Rate

2.49%

Median Effective Rensselaer County Tax Rate

2.60%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Troy, Rensselaer County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12180	1.57%	2.27%	2.52%	2.60%	2.87%
12182	1.84%	2.25%	2.47%	2.65%	2.97%
12183	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Troy, Rensselaer County, New York

When examining property taxes in Troy, 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 Rensselaer 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. Assessment notices: In Rensselaer 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 Troy. For example, the median home price in Troy is $175,481, with tax bills ranging significantly across the county. Zip code 12180 has the highest median home price at $184,211.

Property Tax Assessment Values Across Troy, Rensselaer County, New York

Source: Ownwell

$103,188

$254,822

$406,456

Median Troy Market Value

$175,481

Median Rensselaer County Market Value

$193,797

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Troy, Rensselaer County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12180	$96,053	$139,474	$184,211	$236,842	$317,281
12182	$98,684	$118,421	$144,737	$210,526	$271,549
12183	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Troy, Rensselaer County, New York

In Troy, located in Rensselaer County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Troy is $175,481. The property tax rate for the area is notably higher than the national median, resulting in substantial tax bills for homeowners. The median property tax bill in Troy's highest-taxed zip code, 12180, is $4,406, significantly surpassing the national median property tax bill of $2,400. Tax bills can vary widely, with the 25th percentile at $3,019 and the 90th percentile reaching $7,515. These figures highlight the financial burden on homeowners, especially those with properties assessed at higher values. Ownwell offers a solution by assisting homeowners in appealing their property tax assessments, potentially reducing their tax burden. Through expert knowledge and personalized service, Ownwell aims to secure fair property tax rates for homeowners, ensuring they do not overpay and helping them achieve significant savings.

Property Tax Bills Across Troy, Rensselaer County, New York

Source: Ownwell

$1,989

$5,748

$9,506

Median Troy Tax Bill

$4,270

Median Rensselaer County Tax Bill

$5,040

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Troy, Rensselaer County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12180	$2,186	$3,155	$4,406	$5,806	$7,781
12182	$2,005	$2,767	$3,764	$5,439	$6,908
12183	N/A	N/A	N/A	N/A	N/A

Source: Ownwell