Assessment

OVERVIEW
 

The Department of Assessment is responsible for assessing all real property within the City and administers programs that grant real property tax exemptions to eligible individuals and organizations. The Assessor annually compiles an assessment roll of approximately 31,000 properties on which real property taxes are levied. It is the duty of the Department of Assessment to ensure fairness and equity in the valuation of all of the real property within the City of Albany, and treats each property owner with courtesy and professionalism in pursuit of this goal. 

Please contact the Treasurer's Office for any questions or concerns regarding your property taxes. 

The Department of Assessment maintains the following responsibilities:

Assessing Real Property within the City of Albany

Issuing a Tentative (May 1) and Final (July 1) Assessment Roll

The purpose of issuing a Tentative Assessment Roll is to put property owners on notice as to what will appear on the Final Assessment Roll. Property owners should inspect the Tentative Assessment Roll and if there is a concern as to its accuracy, they have the right to file a protest with the Board of Assessment Review by the fourth Tuesday in May. After the Board renders a decision, the property owner may have a right to continue their protest by means of a Small Claims action for residential properties or an Real Property Tax Law Article 7 proceeding for commercial properties.

Administer Exemptions

If they qualify, Property Owners may seek exemptions. The processes and time frames of obtaining an exemption vary and are specific to each exemption. If you have a question pertaining to a specific exemption please contact the Department of Assessment. A list of exemptions, along with the relevant City Code adopted by the Albany Common Council can be found below.

Inventory

The Department of Assessment works in conjunction with the building Department in order to maintain an accurate inventory of a property. Properties are updated in order to reflect any addition or demolition.

Ownership 

ONLINE RESOURCES

 
USEFUL LINKS

EXEMPTIONS*

Basic Star – The requirement is that the property be owner occupied and a one, two, three family or a condominium or cooperative.This exemption applies only to the school taxes. All exemption applications must be filed between January 1st and March 1st.

Business Investment - 485-B Industrial Commercial Incentive – The requirement is the rehabilitation of an existing industrial or commercial structure or the new construction of an industrial or commercial structure. This is a five year abatement program as follows: 50% in year one, 40% in year two, 30% in year three, 20% in year four and 10% in year 5. The abatement only applies to the increase in the assessed value due to the rehabilitation or new construction. This exemption applies to the school taxes and the city taxes but not the county taxes. 

Capital Improvement to Multiple Dwellings - The purpose of this exemption is to afford and provide an exemption from general municipal taxes for owners of multiple dwellings that are converted into single-family residences or two-unit residences in accordance with § 421-i of the Real Property Tax Law of the State of New York. Multiple-dwelling buildings which are reconstructed, altered or converted back to an owner-occupied single-family dwelling; or any owner-occupied multiple dwelling that is reduced to at most two units by such reconstruction shall be exempt from taxation and special ad valorem levies to the extent provided by law.

Capital Improvements to Residential Building - The purpose of this exemption is to afford and provide an exemption from general municipal taxes for owners of residential buildings that are reconstructed, altered or improved in accordance with § 421-f of the Real Property Tax Law of the State of New York. Residential buildings that are reconstructed, altered or improved, pursuant to § 421-f of the NYS Real Property Tax Law shall be exempt from taxation and special ad valorem levies to the extent provided by law.

Clergy - The requirement is that the owner be a member of the clergy and the property be a one, two or three family or condominium or cooperative. The exemption is a $1,500 exemption off the property taxes only. 

Enhanced Star - The owner is required to be 65 years or older and the property must be an owner occupied one, two, three family or condominium or cooperative. This exemption applies to only the school taxes. All exemption applications must be filed between January 1st and March 1st.

First Time Home Buyer - The purpose of this exemption is to afford and provide an exemption from general municipal taxes for first-time home buyers of newly constructed or improved homes in accordance with § 457 of the Real Property Tax Law of the State of New York (RPTL).

Improvements to Assist Physically Disabled Persons - Pursuant to the provisions of § 459 of the New York State Real Property Tax Law, an improvement to any real property used solely for residential purposes as a one, two- or three-family residence shall be exempt from taxation to the extent of any increase in value attributable to such improvement if such improvement is used for the purpose of facilitating and accommodating the use and accessibility of such real property by a resident owner of the real property who is physically disabled or a member of the resident owner's household who is physically disabled, if such member resides in the real property.

Improvements to Historic Property - The requirement is that a property in a designated historic district be rehabilitated. This is a 10 year abatement program as follows: Years one through five 100%, year six 80%, year seven 60%, year eight 40%, year nine 20% and year ten 10%.This abatement only applies to the increase in the assessed value due to the rehabilitation. 

Multiple Dwellings Financed by State Housing Finance Agency - The purpose of this exemption is to afford and provide an exemption from general municipal taxes for owners of multiple dwellings that are converted into single-family residences or two-unit residences in accordance with § 421-i of the Real Property Tax Law of the State of New York.

Persons With Disabilities And Limited Income - The requirement is that the property be an owner occupied one, two, three family or Condominium or cooperative and an income below $37,400.This exemption applies to the school taxes and the property taxes. 

Private Community Service and Social Organizations and Private Community Service and Social Organizations (Permissive Class) - The requirement is that the owner of a property be a not-for profit entity and that the property be used for the purpose which the entity is exempt. The owner can rent to another not-for profit and still receive the exemption but if the owner rents to a for profit entity that portion which is rented will be taxable. This exemption applies to the school taxes and the property taxes.

Residential/Commercial Urban - 485-A Residential Commercial Urban Program - The requirement is that a formally commercial structure be converted into a mixed use structure. This is a 12 year abatement program as follows: years one through eight 100%, year nine- 80%, year ten- 60%, year 11- 40% and year 12 -20%.The abatement only applies to the increase in the assessed value due to the conversion. This exemption applies to the school taxes and the property taxes. 

Residential Construction Financed Pursuant to Private Housing Finance Law - The requirement is that the one, two or three family be built through the affordable housing program. This is a 15 year abatement. This exemption applies to the school taxes and the property taxes. 

Senior Citizen - The owner is required to be 65 years or older and the property be an owner occupied one, two, three family, and condominium and cooperative, and the income must be below $37,400.This exemption applies to the school taxes, property taxes and water taxes. 

Veterans Exemptions - Non-combat 15%, combat 25%, Cold war 15% and Veterans disability exemption where the city grants ½ of the disability. The requirement is that the veterans supply us with the (dd-214) separation papers. 

*The information is intended to help inform property owners of tax exemptions that are available within the City of Albany. Each exemption has unique qualifying factors as well as time frames in which a property owner may apply.

Contact Information

Trey Kingston, Acting Commissioner
City Hall
24 Eagle St, Room 302
Albany, NY 12207
Phone: (518) 434-5155
Fax: (518) 434-5159
tkingston@albanyny.gov