Ticonderoga, New York Property Taxes
The median property tax rate in Ticonderoga, NY is 2.15%, 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 Ticonderoga at $137,950, the typical annual property tax bill reaches $2,887, exceeding the national median of $2,690. Property taxes in Ticonderoga 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 Ticonderoga'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 Ticonderoga 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
Ticonderoga, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$2,966
$2,932
Ownwell’s Ticonderoga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ticonderoga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ticonderoga 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 Ticonderoga, New York
Property taxes in Ticonderoga, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ticonderoga is 2.15%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Ticonderoga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ticonderoga 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 Ticonderoga's effective property tax rate to other counties in New York and the national median. For comparison, the 12883 zip code has the highest median property tax rate of 2.15%, while the 12883 zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with Ticonderoga 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 Ticonderoga Tax Rate
2.15%
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 Ticonderoga, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12883 | 1.89% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Ticonderoga, New York
In Ticonderoga, 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 Essex 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 Ticonderoga, 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 Ticonderoga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12883 has the highest and lowest median tax bill, both at $2,887.
Average Ticonderoga Assessed Value
$137,950
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 Ticonderoga, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12883 | $64,050 | $98,100 | $137,950 | $217,975 | $404,750 |
Source: Ownwell
Property Tax Bills Across Ticonderoga, New York
In Ticonderoga, Essex County, 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 a local assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the property tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. In Ticonderoga, the median home price is $137,950. Homeowners can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,979, while the 75th percentile tax bill is $4,545. At the higher end, the 90th percentile tax bill reaches $8,524. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, homeowners in Ticonderoga contribute to maintaining and improving their community through their property tax payments.
Average Ticonderoga Tax Bill
$2,887
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 Ticonderoga, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12883 | $1,274 | $1,979 | $2,887 | $4,545 | $8,524 |
Source: Ownwell