Upper Jay, New York Property Taxes
The median property tax rate in UPPER JAY, NY is 2.79%, 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 UPPER JAY, the typical annual property tax bill reaches $4,468, exceeding the national median of $2,690. Property taxes in UPPER JAY 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 UPPER JAY'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 UPPER JAY 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
Upper Jay, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.79%
Estimate Property Tax Bill
$4,668
$4,615
Ownwell’s UPPER JAY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPPER JAY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPPER JAY 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 Upper Jay, New York
Property taxes in Upper Jay, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upper Jay is 2.79%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Upper Jay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upper Jay 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 Upper Jay's effective property tax rate to other counties in New York and the national median. For comparison, the 12987 zip code has the highest median property tax rate of 2.79%, while the same zip code also has the lowest median tax rate of 2.79%. Understanding how these cities compare with Upper Jay 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 Upper Jay Tax Rate
2.79%
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 Upper Jay, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12987 | 2.01% | 2.48% | 2.79% | 2.79% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across Upper Jay, New York
In Upper Jay, 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 Real Property Tax Service 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 Upper Jay, 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 Upper Jay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $167,300, with tax bills ranging from $2,473 at the 25th percentile to $10,038 at the 90th percentile. The zip code 12987 has both the highest and lowest median tax bill of $4,468.
Average Upper Jay Assessed Value
$167,300
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 Upper Jay, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12987 | $57,530 | $100,775 | $167,300 | $236,150 | $366,040 |
Source: Ownwell
Property Tax Bills Across Upper Jay, New York
In UPPER JAY, located in Essex County, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value as determined by the local assessor. Homeowners in UPPER JAY experience a range of property tax bills, with the 25th percentile paying around $2,473 and the 75th percentile facing bills up to $6,100. The highest tax bills can reach up to $10,038, showcasing the variability based on property values and specific circumstances. The median home price in UPPER JAY is $167,300. When compared to the national median property tax rate of 0.99%, the local tax rates in Essex County can result in significantly higher bills. This impacts homeowners by increasing their annual expenses, which can affect budgeting and financial planning. Understanding these factors is crucial for homeowners to anticipate their tax obligations and manage their finances effectively.
Average Upper Jay Tax Bill
$4,468
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 Upper Jay, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12987 | $1,443 | $2,473 | $4,468 | $6,100 | $10,038 |
Source: Ownwell