The city of Albany reassessed more than 29,000 properties for the first time since 2016. Property owners should expect to receive notices the week of April 8, 2024, reflecting significant value increases across both commercial and residential properties. The commercial properties are valued based on factors such as income and expenses of the property owner rather than the businesses within them. That procedure will result in a total value of taxable commercial properties increase from $1.8 billion to $2.6 billion.
The deadline for filing grievances is May 28, 2024. We encourage property owners to take prompt action to ensure fair and accurate assessments that reflect the current values.
The local experts at Ryan are the most experienced professionals in the state of New York, with both industry and property type expertise. Our professionals are more valuation focused and proactive than law firms, and our relationships with the jurisdictions and assessors translate into maximum tax savings realized for clients. We are available to answer questions and assist with the process of filing grievances.
Read Our Roadmap to New York Property Taxes
TECHNICAL INFORMATION CONTACT:
Paul Steimle
Principal
Ryan
716.998.5300
paul.steimle@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Paul Steimle
- Property Tax
- New York