Grenell, New York Property Taxes
The median property tax rate in Grenell, NY is 1.73%, 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 Grenell, the typical annual property tax bill reaches $4,775, exceeding the national median of $2,690. Property taxes in Grenell 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 Grenell'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 Grenell 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
Grenell, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$4,782
$4,728
Ownwell’s Grenell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grenell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grenell 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 Grenell, New York
Property taxes in Grenell, 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 Grenell is 1.73%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Grenell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grenell 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 Grenell's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13624 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these areas compare with Grenell provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grenell Tax Rate
1.73%
Average Jefferson County Tax Rate
1.81%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grenell, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13624 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Grenell, New York
In Grenell, 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 Jefferson 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 Grenell, 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 Grenell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $4,775, are found in the 13624 zip code.
Average Grenell Assessed Value
$276,429
Average Jefferson County Assessed Value
$134,468
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grenell, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13624 | $138,690 | $206,696 | $276,429 | $331,696 | $390,893 |
Source: Ownwell
Property Tax Bills Across Grenell, New York
In Grenell, New York, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. The tax rate, which is set by local taxing authorities, is then applied to this assessed value to determine the annual tax bill. Homeowners in Grenell can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is around $3,570, while the 75th percentile tax bill is approximately $5,729. At the higher end, the 90th percentile tax bill reaches up to $6,752. These figures illustrate the range of property tax obligations in the area, which can significantly impact household budgets. When compared to the national median property tax rate of 0.99%, Grenell’s property tax bills may seem substantial, reflecting the local government's requirements for funding public services. Homeowners need to be aware of these costs, as they can influence both home affordability and long-term financial planning.
Average Grenell Tax Bill
$4,775
Average Jefferson County Tax Bill
$2,407
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Grenell, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13624 | $2,396 | $3,570 | $4,775 | $5,729 | $6,752 |
Source: Ownwell