Greene, New York Property Taxes
The median property tax rate in Greene, NY is 2.98%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Greene at $122,125, the typical annual property tax bill reaches $3,904, exceeding the national median of $2,690. Property taxes in Greene are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greene's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Greene or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greene, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$3,639
$3,598
Ownwell’s Greene Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes in Greene with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Greene to provide an estimated property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Greene, New York
Property taxes in Greene, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greene is 2.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Greene set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greene estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Greene's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13778 has the highest median property tax rate of 2.98%, while the same zip code also has the lowest median tax rate of 2.98%. Understanding how these figures compare with Greene provides valuable insights into the varying tax landscape across Chenango County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greene Tax Rate
2.98%
Average Chenango County Tax Rate
3.08%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greene, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13778 | 2.92% | 2.98% | 2.98% | 3.29% | 3.73% |
Source: Ownwell
Property Tax Assessment Values Across Greene, New York
In Greene, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Greene, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Greene helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 13778, with a tax bill of $3904, while the lowest median tax bill is also in 13778, at $3904.
Average Greene Assessed Value
$122,125
Average Chenango County Assessed Value
$92,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greene, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13778 | $49,125 | $84,875 | $122,125 | $161,548 | $217,250 |
Source: Ownwell
Property Tax Bills Across Greene, New York
In Greene, NY, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $122,125. Tax rates are applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property’s location, size, and any applicable exemptions or deductions. For homeowners in Greene, the property tax bill can vary significantly. The 25th percentile tax bill is $2,663, while the 75th percentile tax bill is $5,077. At the 90th percentile, homeowners can expect to pay around $6,589. These figures show that property tax bills in Greene can be higher than the national median property tax rate of 0.99%, reflecting the local government's revenue needs and property values. High property taxes can impact homeowners by increasing the overall cost of homeownership, which may influence decisions about buying, selling, or investing in property in the area.
Average Greene Tax Bill
$3,904
Average Chenango County Tax Bill
$2,965
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Greene, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13778 | $1,489 | $2,663 | $3,904 | $5,077 | $6,589 |
Source: Ownwell