North Bangor, New York Property Taxes
The median property tax rate in North Bangor, NY is 2.47%, 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 North Bangor at $82,222, the typical annual property tax bill reaches $2,048, slightly below the national median of $2,690. Property taxes in North Bangor are calculated based on the assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding North Bangor'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 North Bangor or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Bangor, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$2,031
$2,008
Ownwell’s North Bangor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Bangor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Bangor 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 North Bangor, New York
Property taxes in North Bangor, New York, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bangor is 2.47%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within North Bangor set these rates annually, and they can vary across different neighborhoods. Each year, North Bangor 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 North Bangor's effective property tax rate to other areas in Franklin County and the national median. For comparison, the highest and lowest median property tax rates in Franklin County are both 2.47%, within the zip code 12966. Understanding how these areas compare with North Bangor provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Bangor Tax Rate
2.47%
Average Franklin County Tax Rate
2.45%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Bangor, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12966 | 2.42% | 2.43% | 2.47% | 2.63% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across North Bangor, New York
In North Bangor, 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 Franklin County Assessor 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 North Bangor, 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 North Bangor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in North Bangor is $82,222, with the 25th percentile tax bill at $1,156 and the 75th percentile tax bill at $3,024. The highest and lowest median tax bills are both $2,048, found in the zip code 12966.
Average North Bangor Assessed Value
$82,222
Average Franklin County Assessed Value
$100,730
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Bangor, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12966 | $26,972 | $45,624 | $82,222 | $120,972 | $173,525 |
Source: Ownwell
Property Tax Bills Across North Bangor, New York
In North Bangor, located in Franklin 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 the local assessor and reflects the market value of the property. Homeowners in North Bangor can expect their property tax bills to vary significantly depending on their home's value. For instance, the 25th percentile tax bill is $1,156, while the 75th percentile tax bill reaches $3,024, and the 90th percentile tax bill can soar to $4,219. The median home price in North Bangor stands at $82,222, and the property tax rate in this region is considerably higher than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, infrastructure, and emergency services. Consequently, higher property taxes can impact homeowners by increasing their annual expenses, which is an important consideration for both current residents and potential homebuyers.
Average North Bangor Tax Bill
$2,048
Average Franklin County Tax Bill
$2,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across North Bangor, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12966 | $685 | $1,156 | $2,048 | $3,024 | $4,219 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Franklin Assessment Review Commission | |
| Website | maps.dancgis.org |