Long Eddy, New York Property Taxes
The median property tax rate in Long Eddy, NY is 2.17%, 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 Long Eddy at $147,738, the typical annual property tax bill reaches $3,200, exceeding the national median of $2,690. Property taxes in Long Eddy 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 Long Eddy'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 Long Eddy 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
Long Eddy, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$3,206
$3,170
Ownwell’s Long Eddy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Eddy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long Eddy 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 Long Eddy, New York
Property taxes in Long Eddy, 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 Long Eddy is 2.17%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Long Eddy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long Eddy 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. For comparison, the area with the highest median property tax rate in Delaware County is also Long Eddy, with a rate of 2.17%, while the area with the lowest median tax rate is again Long Eddy at 2.17%. Understanding how these cities compare with Long Eddy 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 Long Eddy Tax Rate
2.17%
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 Long Eddy, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12760 | 2.17% | 2.17% | 2.17% | 2.17% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Long Eddy, New York
In Long Eddy, 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 Long Eddy, 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 Long Eddy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Long Eddy is 12760, with a median tax bill of $3,200.
Average Long Eddy Assessed Value
$147,738
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 Long Eddy, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12760 | $69,252 | $104,802 | $147,738 | $207,756 | $267,775 |
Source: Ownwell
Property Tax Bills Across Long Eddy, New York
In Long Eddy, Delaware County, NY, property tax bills are calculated based on the assessed value of your home, which is determined by local tax assessors. The median home price in Long Eddy is $147,738. Property taxes are then applied to this assessed value using the local tax rate. For instance, the tax bill for the 25th percentile is $2,312, while for the 75th percentile, it reaches $4,501. Homeowners in the 90th percentile can expect to pay around $5,878. Several factors influence these bills, including property size, location, and any improvements made to the property. These taxes fund essential community services like schools, public safety, and infrastructure. The median property tax rate in Long Eddy is notably higher than the national median of 0.99%, reflecting the region's commitment to maintaining robust public services. For homeowners, this means that while property taxes can be a significant expense, they also contribute to the overall quality of life in the community.
Average Long Eddy Tax Bill
$3,200
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 Long Eddy, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12760 | $1,534 | $2,312 | $3,200 | $4,501 | $5,878 |
Source: Ownwell