How are the full market value and the assessed value of my real property calculated?
A property’s full market value is the amount of money that a knowledgeable and willing buyer will offer to a knowledgeable and willing seller who will accept it when neither party is pressured to do so. Such sales are said to be arm’s length sales. A property’s assessed value is the value placed on the real property for tax purposes.

Cities and counties collect real estate taxes from homeowners that are calculated according to the assessed value, which takes into consideration the full market value of a property as well as the equalization rate of the municipality.

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1. How are the full market value and the assessed value of my real property calculated?
2. What is the equalization rate for the City of Schenectady and how is it determined?
3. Where can I find a copy of the 2019 Assessment Roll?
4. What can I do if I am unhappy with the assessed value of my real property?
5. Can the Board of Assessment review raise my assessment?
6. When should I expect to hear an outcome of my grievance application?
7. What can I do if I am unhappy about the outcome of my grievance application?