Palatine Bridge, New York Property Taxes
The median property tax rate in Palatine Bridge, NY is 2.73%, 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 Palatine Bridge at $119,298, the typical annual property tax bill reaches $3,230, exceeding the national median of $2,690. Property taxes in Palatine Bridge 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 Palatine Bridge'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 Palatine Bridge 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
Palatine Bridge, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$3,257
$3,220
Ownwell’s Palatine Bridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palatine Bridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palatine Bridge 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 Palatine Bridge, New York
Property taxes in Palatine Bridge, 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 Palatine Bridge is 2.73%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Palatine Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palatine Bridge 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 Palatine Bridge's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13428 has the highest median property tax rate of 2.73%, while the same zip code also has the lowest median tax rate of 2.73%. Understanding how these cities compare with Palatine Bridge provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palatine Bridge Tax Rate
2.73%
Average Montgomery County Tax Rate
2.37%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palatine Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13428 | 1.75% | 2.35% | 2.73% | 3.12% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Palatine Bridge, New York
In Palatine Bridge, 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 Montgomery County Assessment Office 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 Palatine Bridge, 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 Palatine Bridge 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 13428, with a value of $3,230.
Property Tax Assessment Values Across Palatine Bridge, New York
Source: Ownwell
$18,033
$98,802
$179,570
Average Palatine Bridge Assessed Value
$119,298
Average Montgomery County Assessed Value
$107,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palatine Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13428 | $60,965 | $87,719 | $119,298 | $160,088 | $220,833 |
Source: Ownwell
Property Tax Bills Across Palatine Bridge, New York
In Palatine Bridge, Montgomery County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $119,298, homeowners can expect varying tax bills. The tax bill at the 25th percentile is around $2,110, while at the 75th percentile, it rises to approximately $4,375. At the 90th percentile, the tax bill can be as high as $5,682. These figures indicate that homeowners in Palatine Bridge face a range of property tax obligations, depending on their home's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, the rates in Palatine Bridge can significantly impact homeowners' annual expenses, potentially making property taxes a substantial part of their financial planning.
Average Palatine Bridge Tax Bill
$3,230
Average Montgomery County Tax Bill
$2,451
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Palatine Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13428 | $1,325 | $2,110 | $3,230 | $4,375 | $5,682 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Montgomery Assessment Review Commission | |
| Website | www.co.montgomery.ny.us |