City Treasurer Darius Shahinfar Announces Drop in Albany Tax Delinquencies, Increase in Tax Collections
January 30, 2017
Contact: Darius Shahinfar
Date: January 30, 2017
For Immediate Release
ALBANY, NY – Albany City Treasurer Darius Shahinfar has announced that the results of 2016 property tax collections are in.
“Thanks to utilizing a more efficient way to identify inaccurate tax data, the City was able to correct information and locate the accurate taxpayers for properties. This resulted in tax bills being paid in a more timely manner, reducing tax delinquency, increasing cash flow, collecting earned interest on overdue bills and saving on postage costs due to eliminating bad addresses,” said Shahinfar.
The number of delinquent properties (2212) was down 15 percent from 2015 (2615), and down 28% from 2012 (3090); the amount of delinquent taxes ($2.1 million) was down 29 percent from 2015 ($2.9 million) and 36 percent from 2012 ($3.3 million) and delinquent water taxes reduced by 15 percent over both time frames (see below for full 2012-2016 delinquency numbers).
The City also collected $27,000 more in interest revenue than was budgeted ($232,000 over $205,000). The timely payments also means that the City did not give away $120,000 to $180,000 in interest to Albany County without compensation.
The number of bills returned by the post office for bad addresses was also dramatically reduced in 2017 by approximately 70 to 80 percent over previous years (currently approximately 550 returned as opposed to 1750-2750 returned in previous years), saving $500 to 1,000 in postage as well.
And as a reminder, property tax bill payments in the City of Albany are due tomorrow, January, 31, 2017 (February 1, 2017 for eligible Senior bills). Payments may now be made online at albanyny.gov directly from your checking account for the cost of a stamp ($.50), or by credit card, fee applies ($.25 plus 1.95 percent of the amount owed).
2016: 2212 properties -400 from 2015 -15% -876 from 2012 -28%
$2.1m taxes -$800K -29% -$1.2m -36%
$.970m water bill taxes -$150k -14% -$167k -15%
2015: 2615 properties
$1.125m water bill taxes
2014: 2577 properties
$1.07m water bill taxes
2013: 2741 properties
$1.09m water bill taxes
2012: 3090 properties
$1.137m water bill taxes
Chartered in 1686, the City of Albany is the oldest continuously chartered city in the United States, and has been the State Capital since 1797. Although the City is the seat of State Government and a thriving center of education, culture and commerce, its real spirit lies in its diverse and vibrant neighborhoods. In January 2014 Darius Shahinfar became the City’s Treasurer.