Hobart, New York Property Taxes
The median property tax rate in Hobart, NY is 2.60%, 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 Hobart, the typical annual property tax bill reaches $2,966, exceeding the national median of $2,690. Property taxes in Hobart 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 Hobart'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 Hobart 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
Hobart, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.6%
Estimate Property Tax Bill
$2,907
$2,874
Ownwell’s Hobart Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobart to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hobart, New York
Property taxes in Hobart, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobart is 2.60%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hobart set these rates annually, and they can vary across different neighborhoods. Each year, Hobart 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 Hobart's effective property tax rate to other areas in Delaware County and the national median. For comparison, the zip code 13788 has the highest median property tax rate of 2.60%, while the lowest median tax rate is also 2.60% in the same zip code. Understanding how these areas compare with Hobart provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobart Tax Rate
2.60%
Average Delaware County Tax Rate
2.34%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobart, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13788 | 2.52% | 2.60% | 2.60% | 2.63% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Hobart, New York
In Hobart, 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 Delaware County Assessment Office 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 Hobart, 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 Hobart 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 13788, with a median bill of $2,966.
Average Hobart Assessed Value
$111,800
Average Delaware County Assessed Value
$129,271
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobart, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13788 | $33,280 | $66,625 | $111,800 | $150,250 | $219,300 |
Source: Ownwell
Property Tax Bills Across Hobart, New York
In Hobart, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. Homeowners in Hobart can expect varying tax bills depending on their property's assessed value and the specific tax rates applied by Delaware County. For example, the median home price in Hobart is $111,800. Property tax bills can range significantly, with the 25th percentile at $1,793, the 75th percentile at $3,878, and the 90th percentile reaching up to $5,532. These figures indicate that while some homeowners may pay relatively modest amounts, others could face substantially higher bills. Compared to the national median property tax rate of 0.99%, Hobart's tax rates reflect the local economic and property market conditions. High property taxes can affect homeowners' budgets, making it essential for residents to understand how their tax bills are calculated and to explore any available exemptions or appeals to potentially lower their tax burden.
Average Hobart Tax Bill
$2,966
Average Delaware County Tax Bill
$3,106
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobart, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13788 | $855 | $1,793 | $2,966 | $3,878 | $5,532 |
Source: Ownwell