Meredith, New York Property Taxes
The median property tax rate in Meredith, NY is 2.34%, 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 Meredith, the typical annual property tax bill reaches $3,146, exceeding the national median of $2,690. Property taxes in Meredith 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 Meredith'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 Meredith 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
Meredith, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.34%
Estimate Property Tax Bill
$3,143
$3,107
Ownwell’s Meredith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meredith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meredith 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 Meredith, New York
Property taxes in Meredith, 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 Meredith is 2.34%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Meredith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meredith 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 Meredith's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13753 has the highest median property tax rate of 2.34%, while the same zip code also has the lowest median tax rate of 2.34%. Understanding how these cities compare with Meredith 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 Meredith Tax Rate
2.34%
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 Meredith, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13753 | 2.34% | 2.34% | 2.34% | 2.34% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Meredith, New York
In Meredith, 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 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 Meredith, 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 Meredith 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 13753, with a value of $3,146.00, while the lowest is also 13753, with the same value of $3,146.00.
Average Meredith Assessed Value
$134,300
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 Meredith, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13753 | $134,300 | $134,300 | $134,300 | $134,300 | $134,300 |
Source: Ownwell
Property Tax Bills Across Meredith, New York
In Meredith, 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 the local assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. In Meredith, the median home price is $134,300, and the median property tax bill is $3,146, significantly higher than the national median property tax rate of 0.99%. This higher tax rate can have a substantial impact on homeowners, affecting their monthly mortgage payments and overall housing affordability. Homeowners in Meredith need to be aware of these factors, as they can influence both short-term financial planning and long-term property investment decisions. By understanding how their tax bill is calculated, homeowners can better navigate their financial responsibilities and explore potential tax relief options.
Average Meredith Tax Bill
$3,146
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 Meredith, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13753 | $3,146 | $3,146 | $3,146 | $3,146 | $3,146 |
Source: Ownwell