Essex, New York Property Taxes
The median property tax rate in Essex, NY is 1.92%, 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 Essex, the typical annual property tax bill reaches $4,696, exceeding the national median of $2,690. Property taxes in Essex 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 Essex'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 Essex 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
Essex, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$4,775
$4,721
Ownwell’s Essex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Essex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Essex 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 Essex, New York
Property taxes in Essex, 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 Essex stands at 1.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within Essex set these rates annually, and they can vary across different neighborhoods. Each year, Essex 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 Essex's effective property tax rate to other areas and the national median. For comparison, the zip code 12936 has the highest median property tax rate of 1.92%, while the lowest median tax rate in the same zip code is also 1.92%. Understanding how these rates compare with Essex 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 Essex Tax Rate
1.92%
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 Essex, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12936 | 1.73% | 1.92% | 1.92% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Essex, New York
In Essex, 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 local 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 Essex, 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 Essex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Essex is in the 12936 zip code, amounting to $4,696. Conversely, the same zip code also has the lowest median tax bill, reflecting the variability within the county. The median home price in Essex is $248,700, with tax bills ranging from $2,462 at the 25th percentile to $10,181 at the 90th percentile.
Average Essex Assessed Value
$248,700
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 Essex, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12936 | $70,670 | $136,425 | $248,700 | $371,875 | $570,790 |
Source: Ownwell
Property Tax Bills Across Essex, New York
In Essex, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Essex is $248,700, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions. Homeowners in Essex can expect a wide range of tax bills. At the 25th percentile, tax bills are around $2,462, while at the 75th percentile, they rise to approximately $6,849. Those in the 90th percentile face tax bills as high as $10,181. The highest and lowest median tax bills in Essex are both $4,696, found in the zip code 12936. Compared to the national median property tax rate of 0.99%, Essex homeowners may experience higher tax rates, significantly affecting their annual expenses. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Essex Tax Bill
$4,696
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 Essex, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12936 | $1,359 | $2,462 | $4,696 | $6,849 | $10,181 |
Source: Ownwell