Could someone explain how taxes are calculated in NYS? Is there a tax rate that is used throughout?

Asked by Stephanie Medellin, Schenectady, NY Sun Jan 5, 2014

Is there a tax cap, where taxes cannot rise more than x% per year? Any limitations on assessed values? Are the assessed values even based on market value? I cannot get over the outrageous taxes on $50,000 - $100,000 properties.

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Alexander Mo…, Agent, Albany, NY
Sun Jan 5, 2014
Generally there are both a city/town tax and then a school district tax. Technically there is a 2% tax limit on the levy increase, however there are many exceptions that can allow a municipality to raise taxes more than 2% a year. You can see more about the Capital Region real estate break down on link below. If you're focused on tax rates the chart in the link below will give you a good idea of the lowest taxes areas in the Capital Region.

Alexander H. Monticello, Esq.
Owner of Monticello
Principal Real Estate Broker &
Licensed Attorney
http://www.MonticelloNYS.com
T: 518.227.0718
F: 518.223.8001
E: Alex@MonticelloNYS.com
352 State Street, Albany NY
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Here is the website again with the link to my blog post. http://www.monticellonys.com/2013/general/2012-capital-region-property-taxes-by-town
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