Red Hook, New York Property Taxes
The median property tax rate in Red Hook, NY is 2.33%, 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 Red Hook at $350,400, the typical annual property tax bill reaches $8,208, far exceeding the national median of $2,690. Property taxes in Red Hook 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 Red Hook'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 Red Hook 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
Red Hook, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$8,164
$8,072
Ownwell’s Red Hook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Hook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Hook 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 Red Hook, New York
Property taxes in Red Hook, 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 Red Hook is 2.33%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Red Hook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Hook 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 Red Hook's effective property tax rate to other areas in Dutchess County and the national median. For comparison, the 12571 zip code has the highest median property tax rate of 2.33%, while the same zip code also has the lowest median tax rate of 2.33%. Understanding how these figures compare with Red Hook provides valuable insights into the varying tax landscape across Dutchess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Hook Tax Rate
2.33%
Average Dutchess County Tax Rate
2.86%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Hook, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12571 | 1.64% | 2.33% | 2.33% | 2.34% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Red Hook, New York
In Red Hook, 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 Dutchess 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. 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 Red Hook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12571 has both the highest and lowest median tax bill, which stands at $8,208.
Average Red Hook Assessed Value
$350,400
Average Dutchess County Assessed Value
$321,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Hook, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12571 | $223,800 | $280,150 | $350,400 | $458,900 | $624,500 |
Source: Ownwell
Property Tax Bills Across Red Hook, New York
In Red Hook, Dutchess County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions or abatements are considered in this calculation. For instance, with a median home price of $350,400, homeowners in Red Hook face varying tax bills. The tax bill at the 25th percentile is $6,448, while at the 75th percentile, it rises to $10,623, and at the 90th percentile, it reaches $14,007. These figures highlight the significant impact property taxes can have on household finances, especially when compared to the national median property tax rate of 0.99%. In Red Hook, the highest and lowest median tax bills are both $8,208, indicating a consistent tax rate across different properties within the same zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets accordingly.
Average Red Hook Tax Bill
$8,208
Average Dutchess County Tax Bill
$9,388
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Hook, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12571 | $4,708 | $6,448 | $8,208 | $10,623 | $14,007 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Dutchess Assessment Review Commission | |
| Website | gis.dutchessny.gov |