Round Top, New York Property Taxes
The median property tax rate in Round Top, NY is 2.04%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Round Top, the typical annual property tax bill reaches $4,826, far exceeding the national median of $2,690. Property taxes in Round Top 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 Round Top'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 Round Top 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
Round Top, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$4,894
$4,838
Ownwell’s Round Top Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Round Top with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Round Top 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 Round Top, New York
Property taxes in Round Top, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Top is 2.04%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Round Top set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Top 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 Round Top's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12473 has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with Round Top provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Round Top Tax Rate
2.04%
Average Greene County Tax Rate
2.04%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Round Top, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12473 | 2.02% | 2.04% | 2.04% | 2.04% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Round Top, New York
In Round Top, 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 Greene 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 Round Top, 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 Round Top helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 12473, with a tax bill of $4,826.
Average Round Top Assessed Value
$239,882
Average Greene County Assessed Value
$210,370
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Round Top, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12473 | $146,208 | $179,764 | $239,882 | $312,967 | $402,279 |
Source: Ownwell
Property Tax Bills Across Round Top, New York
In Round Top, NY, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the property's market value, local government budgets, and specific tax rates set by the county and city authorities. For homeowners in Round Top, the median home price is $239,882. Property tax bills can vary significantly, with the 25th percentile paying around $3,674 annually and the 75th percentile facing bills up to $6,316. The highest median tax bill in the area is recorded at $4,826. Compared to the national median property tax rate of 0.99%, Round Top's rates reflect the local economic environment and funding needs for public services. These tax bills impact homeowners by influencing their overall cost of living and potentially affecting property values and resale potential.
Average Round Top Tax Bill
$4,826
Average Greene County Tax Bill
$4,183
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Round Top, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12473 | $2,880 | $3,674 | $4,826 | $6,316 | $7,930 |
Source: Ownwell