Floral Park, New York Property Taxes
The median property tax rate in Floral Park, NY is 1.52%, 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 Floral Park, the typical annual property tax bill reaches $9,447, exceeding the national median of $2,690. Property taxes in Floral Park 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 Floral Park'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 Floral Park 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
Floral Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$9,333
$9,228
$1,148
Average Floral Park, New York Tax Savings
Ownwell’s Floral Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Floral Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Floral Park to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Floral Park. 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 Floral Park, New York
Property taxes in Floral Park, 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 Floral Park is 1.52%, which is higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Floral Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Floral Park 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 Floral Park's effective property tax rate to other areas in Nassau County and the national median. For comparison, the zip code 11003 has the highest median property tax rate of 2.18%, while the zip code 11001 has the lowest median tax rate of 1.52%. Understanding how these areas compare with Floral Park provides valuable insights into the varying tax landscape across Nassau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Floral Park Tax Rate
1.52%
Average Nassau County Tax Rate
2.10%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Floral Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11001 | 1.23% | 1.38% | 1.52% | 1.68% | 2.01% |
| 11003 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
$1,148
Average Floral Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Floral Park, New York
In Floral Park, 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 Nassau 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 Floral Park, 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. For example, the highest median tax bill in Floral Park is $11,978 in zip code 11003, while the lowest is $9,446 in zip code 11001. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Floral Park, New York
Source: Ownwell
$37,000
$1,990,750
$3,944,500
Average Floral Park Assessed Value
$614,000
Average Nassau County Assessed Value
$537,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Floral Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11001 | $487,000 | $549,000 | $614,000 | $679,000 | $745,000 |
| 11003 | $549,000 | $549,000 | $549,000 | $549,000 | $549,000 |
Source: Ownwell
$1,148
Average Floral Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Floral Park, New York
In Floral Park, Nassau County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $614,000, homeowners face substantial property tax bills. The tax bill at the 25th percentile is $8,225, while at the 75th percentile, it rises to $10,631, and at the 90th percentile, it reaches $11,933. These figures are significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property assessments, local tax rates, and any applicable exemptions. High property taxes can pose a financial burden on homeowners, making it crucial to ensure that their assessed property value is accurate. Ownwell specializes in property tax appeals and exemption services, helping homeowners in Floral Park potentially reduce their tax bills. By conducting thorough property assessments and navigating the appeal process, Ownwell can identify discrepancies and secure lower tax rates, providing significant savings for homeowners.
Average Floral Park Tax Bill
$9,447
Average Nassau County Tax Bill
$11,613
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Floral Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11001 | $7,053 | $8,225 | $9,446 | $10,631 | $11,933 |
| 11003 | $11,978 | $11,978 | $11,978 | $11,978 | $11,978 |
Source: Ownwell
$1,148
Average Floral Park Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates | |
|---|---|
| Appeal Deadline | March 18 |
Links | |
|---|---|
| Nassau Assessment Review Commission | |
| Website | lrv.nassaucountyny.gov |
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