Foreclosed Albany rental

7 Replies

@Steven Luttman After doing more research, according to smartassest calc, Albany County property tax rate is 2% (Am I correct to assume you multiply the purchasing price of house (Foreclosed home @ $17,500 x 2%, which would give me $368) OR would I have to multiply the ARV x 2%?

Average property insurance is $1,236

Thank you for all the help! 

While you may be able to purchase the building for 17k the city will valuation which can be viewed in assessment rolls. For accurate tax information call the collecting entity (city of Albany schools & City Treasurer) or obtain online.

2% sounds low. Keep in mind in the City of Albany we have County, city, and school taxes. 

On the other hand, the insurance estimate seems a little on the high side based on the value of the deal.

Originally posted by @Eric Margolis :

@Andrew Pope 

Thank you for the feedback. Would the website smartasset have that calculated given the location entered via zip code? 

I'm honestly not sure. Taxes are public record so you can look up on the city's website last year's city and county taxes and for the school tax on the school district site.