Taxes in Troy, New York
Complete tax guide for Troy, NY. State income tax up to 6.85%, 1.74% property tax, 6.31% sales tax. Calculate your total tax burden.
State Income Tax
6.85%
New York
Property Tax
1.74%
Effective rate
Sales Tax
6.31%
Combined rate
Tax Burden
Very High
Troy, NY Tax Overview
Population
51,401
Median Income
$76,800
Cost of Living
129.5 (100 = avg)
State Income Tax
6.85%
Local Income Tax
1.63%
Median Home Price
$474,000
Troy Tax Calculator
Pre-filled with Troy median: $76,800
Total Tax Burden in Troy
$20,898
Take-Home: $55,902 · Effective Rate: 27.21%
Federal Tax
$8,510
11.08% eff.
NY State + Local
$6,513
8.48% eff.
FICA
$5,875
7.65% eff.
Take-Home
$55,902
72.79% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $76,800.00 | $6,400.00 |
| Federal Income Tax | -$8,510.00 | -$709.17 |
| New York State Tax | -$5,260.80 | -$438.40 |
| Troy Local Tax (1.63%) | -$1,251.84 | -$104.32 |
| Social Security (6.2%) | -$4,761.60 | -$396.80 |
| Medicare (1.45%) | -$1,113.60 | -$92.80 |
| Take-Home Pay | $55,902.16 | $4,658.51 |
Property Tax in Troy
Median Home
$474,000
Annual Tax
$8,248
Monthly Tax
$687
Effective Rate
1.74%
Sales Tax in Troy
Combined Rate
6.31%
State Portion
~3.8%
Local Portion
~2.5%
The combined sales tax rate in Troy is 6.31%, which is below the national average of 7.12%. On a $100 purchase, you would pay $6.31 in sales tax.
Tax Burden Comparison
| Tax Type | Troy | New York Avg | National Avg |
|---|---|---|---|
| Income Tax | 6.85% + 1.63% | 6.85% | 4.6% |
| Property Tax | 1.74% | ~1.74% | 1.1% |
| Sales Tax | 6.31% | ~6.31% | 7.12% |
| Overall Burden | Very High | — | Moderate |
Tax Saving Tips for Troy Residents
- New York's income tax rate of 6.85% is above average. Maximize pre-tax retirement contributions (401k up to $23,500, IRA up to $7,000) to reduce both federal and state taxable income.
- Troy has a local income tax of 1.63%. If you work remotely, verify whether you owe city tax based on where you work or where you live. Some cities only tax people who work within city limits.
- Property tax in Troy (1.74%) is above the national average. Check if you qualify for homestead exemptions or assessment appeals to reduce your property tax bill.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Troy, NY?
Troy, New York has a state income tax rate up to 6.85%, plus a local income tax of 1.63%. The property tax rate is 1.74% and the combined sales tax rate is 6.31%.
How much is property tax in Troy?
The effective property tax rate in Troy is 1.74%. On the median home price of $474,000, this equals approximately $8,248 per year or $687 per month. This is above the national average of 1.1%.
What is the sales tax rate in Troy?
The combined sales tax rate in Troy is 6.31%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Troy's tax burden compare to other cities?
Troy has a very high overall tax burden. The effective total tax rate for a median-income household is approximately 36.3%. The combination of 6.85% state income tax, 1.74% property tax, and 6.31% sales tax determines the total burden. Cost of living index is 129.5 (100 = national average).
Are there any local taxes in Troy?
Yes. Troy imposes a local income tax of 1.63% in addition to the state income tax of 6.85%.