Elizabethtown, New York Property Taxes
The median property tax rate in Elizabethtown, NY is 2.12%, 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 Elizabethtown, the typical annual property tax bill reaches $3,168, exceeding the national median of $2,690. Property taxes in Elizabethtown 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 Elizabethtown'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 Elizabethtown 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
Elizabethtown, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$3,241
$3,205
Ownwell’s Elizabethtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elizabethtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elizabethtown 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 Elizabethtown, New York
Property taxes in Elizabethtown, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elizabethtown is 2.12%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Elizabethtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elizabethtown 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 Elizabethtown's effective property tax rate to other counties in New York and the national median. For comparison, the 12932 zip code has the highest median property tax rate of 2.12%, while the same zip code also has the lowest median tax rate of 2.12%. Understanding how these cities compare with Elizabethtown provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elizabethtown Tax Rate
2.12%
Average Essex County Tax Rate
1.92%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elizabethtown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12932 | 1.96% | 1.96% | 2.12% | 2.12% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Elizabethtown, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elizabethtown, Essex County, NY. 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 local assessors 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 Elizabethtown, 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. For instance, the median home price in Elizabethtown is $152,900, with tax bills ranging from $1,995 at the 25th percentile to $4,727 at the 75th percentile. The zip code 12932 has the highest median tax bill at $3,168. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Elizabethtown Assessed Value
$152,900
Average Essex County Assessed Value
$151,489
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elizabethtown, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12932 | $59,030 | $98,550 | $152,900 | $229,550 | $327,370 |
Source: Ownwell
Property Tax Bills Across Elizabethtown, New York
In Elizabethtown, Essex County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the property's market value. Once the assessed value is established, the tax rate, which is set by local authorities, is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For instance, the median home price in Elizabethtown is $152,900, and property tax bills can vary significantly. Homeowners at the 25th percentile pay around $1,995 annually, while those at the 75th percentile face bills of approximately $4,727. At the 90th percentile, tax bills can reach as high as $6,622. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, homeowners in Elizabethtown must budget for these expenses, which can be higher than the national median property tax rate of 0.99%.
Average Elizabethtown Tax Bill
$3,168
Average Essex County Tax Bill
$2,966
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Elizabethtown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12932 | $1,163 | $1,995 | $3,168 | $4,727 | $6,622 |
Source: Ownwell