Vermontville, New York Property Taxes
The median property tax rate in Vermontville, NY, is 1.66%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With the median home value in Vermontville at $156,700, the typical annual property tax bill reaches $2,602, just below the national median of $2,690. Property taxes in Vermontville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vermontville'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 Vermontville 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
Vermontville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$2,601
$2,572
Ownwell’s Vermontville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vermontville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vermontville 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 Vermontville, New York
Property taxes in Vermontville, 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 Vermontville is 1.66%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Vermontville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vermontville 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 Vermontville's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12989 has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these areas compare with Vermontville 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 Vermontville Tax Rate
1.66%
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 Vermontville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12989 | 1.66% | 1.66% | 1.66% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Vermontville, New York
In Vermontville, 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 Vermontville, 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 Vermontville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,602 in the 12989 zip code, while the lowest median tax bill is also $2,602 in the same zip code.
Average Vermontville Assessed Value
$156,700
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 Vermontville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12989 | $75,880 | $102,600 | $156,700 | $192,500 | $274,140 |
Source: Ownwell
Property Tax Bills Across Vermontville, New York
In Vermontville, Essex County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Vermontville is $156,700, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, which in turn affects the tax bill. Homeowners in Vermontville can expect varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $1,704, while the 75th percentile tax bill reaches $3,197. At the higher end, the 90th percentile tax bill is $4,552. These figures highlight the range of property tax obligations homeowners might face. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Vermontville should be aware of these factors as they directly impact their annual financial planning and property-related expenses.
Average Vermontville Tax Bill
$2,602
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 Vermontville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12989 | $1,260 | $1,704 | $2,602 | $3,197 | $4,552 |
Source: Ownwell