The equalization rate in the City of Schenectady is determined by the New York State Office of Real Property Tax Services (ORPTS). Equalization seeks to measure the relationship of locally assessed values to an ever-changing real estate market. In order to distribute school district or county taxes among municipalities, the level of assessment must be equalized.
This year, the equalization rate is .7900 or 79.00% of the fair market value of real property. What this means is that if you have a home that has a fair market value of $100,000 your assessed value and the value for which you pay taxes is actually $79,000. You can find this information on the 2023 tentative assessment roll published on May 1st, 2023.