Schenectady, New York Property Taxes
The median property tax rate in Schenectady, NY is 3.50%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Schenectady at $182,000, the typical annual property tax bill reaches $5,920, exceeding the national median of $2,690. Property taxes in Schenectady are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Schenectady'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 Schenectady or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Schenectady, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.5%
Estimate Property Tax Bill
$6,370
$5,911
Ownwell’s Schenectady Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Schenectady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Schenectady 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 Schenectady, New York
Property taxes in Schenectady, 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 Schenectady is 3.50%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Schenectady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Schenectady 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 Schenectady's effective property tax rate to other areas in New York and the national median. For comparison, the 12307 zip code has the highest median property tax rate of 4.78%, while the 12302 zip code has the lowest median tax rate of 2.87%. Understanding how these areas compare with Schenectady provides valuable insights into the varying tax landscape across Schenectady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Schenectady Tax Rate
3.50%
Average Schenectady County Tax Rate
3.48%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Schenectady, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12302 | 2.55% | 2.80% | 2.87% | 3.57% | 3.57% |
| 12303 | 2.72% | 3.07% | 3.07% | 4.01% | 4.73% |
| 12304 | 2.61% | 3.03% | 3.66% | 4.12% | 4.61% |
| 12305 | 0.99% | 2.98% | 3.93% | 4.43% | 4.86% |
| 12306 | 2.75% | 3.05% | 3.14% | 3.50% | 4.07% |
| 12307 | 3.15% | 4.19% | 4.78% | 5.24% | 5.73% |
| 12308 | 2.99% | 3.58% | 3.95% | 4.38% | 4.85% |
| 12309 | 3.00% | 3.71% | 3.85% | 3.96% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Schenectady, New York
In Schenectady, 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 Schenectady 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. Assessment notices in Schenectady 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. In Schenectady, the highest median tax bill is $9,634 in zip code 12309, while the lowest median tax bill is $3,943 in zip code 12307. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Schenectady Assessed Value
$182,000
Average Schenectady County Assessed Value
$185,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Schenectady, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12302 | $134,800 | $166,800 | $208,133 | $262,667 | $325,733 |
| 12303 | $89,634 | $113,171 | $156,341 | $189,200 | $225,300 |
| 12304 | $85,976 | $103,659 | $130,122 | $168,415 | $224,711 |
| 12305 | $79,024 | $99,085 | $130,366 | $169,024 | $230,122 |
| 12306 | $113,300 | $145,800 | $192,800 | $244,600 | $319,300 |
| 12307 | $49,463 | $67,896 | $83,110 | $98,841 | $119,890 |
| 12308 | $86,829 | $110,976 | $140,366 | $172,073 | $205,976 |
| 12309 | $158,537 | $196,600 | $262,195 | $337,100 | $426,040 |
Source: Ownwell
Property Tax Bills Across Schenectady, New York
In Schenectady, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, and local authorities periodically reassess properties to ensure values reflect current market conditions. With a median home price of $182,000, homeowners in Schenectady can expect varying tax bills based on their property's assessed value and specific location within the city. Factors influencing the tax bill include property size, location, and any applicable exemptions. For example, homes in the 12309 zip code have the highest median tax bill at $9,634, while those in the 12307 zip code have the lowest at $3,943. These figures highlight the disparity within the city, where tax bills range from the 25th percentile at $4,659 to the 90th percentile at $11,273. Compared to the national median property tax rate of 0.99%, Schenectady's rates can be significantly higher, impacting homeowners' annual expenses and potentially influencing their decision to buy or sell property in the area.
Average Schenectady Tax Bill
$5,920
Average Schenectady County Tax Bill
$5,926
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Schenectady, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12302 | $4,097 | $5,038 | $6,044 | $7,640 | $9,897 |
| 12303 | $3,315 | $4,275 | $5,031 | $5,883 | $6,885 |
| 12304 | $2,849 | $3,873 | $4,843 | $5,973 | $7,380 |
| 12305 | $941 | $2,733 | $4,873 | $6,436 | $8,027 |
| 12306 | $3,879 | $4,913 | $6,141 | $7,777 | $10,337 |
| 12307 | $1,933 | $2,949 | $3,943 | $4,572 | $5,422 |
| 12308 | $3,262 | $4,369 | $5,484 | $6,596 | $7,799 |
| 12309 | $5,565 | $7,267 | $9,634 | $12,727 | $16,222 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Schenectady Assessment Review Commission | |
| Website | schenectady.sdgnys.com |