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Village Of Garden City, New York Property Taxes

The median property tax rate in the Village of Garden City, NY is 1.42%, 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 the Village of Garden City at $1,193,000, the typical annual property tax bill reaches $16,768, exceeding the national median of $2,690. Property taxes in the Village of Garden City 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 the Village of Garden City'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 the Village of Garden City 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

Village Of Garden City, New York Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.42%

Estimate Property Tax Bill

$16,941

$16,750

SAVE WITH OWNWELL

$1,148

Average Village Of Garden City, New York Tax Savings

Ownwell’s Village of Garden City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Village of Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Village of Garden City 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 Village of Garden City. 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 Village Of Garden City, New York

Property taxes in the Village of Garden City, 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 the Village of Garden City is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within the Village of Garden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, the Village of Garden City 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 the Village of Garden City's effective property tax rate to other areas in Nassau County and the national median. For comparison, the zip code 11530 has the highest median property tax rate of 1.42%, while the lowest median tax rate is also 1.42%, indicating uniformity in the tax rate across the area. Understanding how these figures compare with the Village of Garden City 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.

Property Tax Rates Across Village Of Garden City, New York

Source: Ownwell

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0.17%

1.74%

3.30%

Average Village Of Garden City Tax Rate

1.42%

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 Village Of Garden City, New York

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
115301.28%1.40%1.42%1.44%1.48%

Source: Ownwell

Property Tax Assessment Values Across Village Of Garden City, New York

In the Village of Garden City, 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 the Village of Garden City, 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. The median home price here is $1,193,000, with tax bills ranging from $16,571 at the 25th percentile to $20,617 at the 90th percentile. The highest and lowest median tax bills are both $16,768 in the 11530 zip code. 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 the Village of Garden City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Village Of Garden City, New York

Source: Ownwell

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$37,000

$1,990,750

$3,944,500

Average Village Of Garden City Assessed Value

$1,193,000

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 Village Of Garden City, New York

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
11530$1,103,000$1,168,000$1,193,000$1,294,000$1,444,600

Source: Ownwell

Property Tax Bills Across Village Of Garden City, New York

In the Village of Garden City, Nassau County, NY, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. With a median home price of $1,193,000, homeowners in this area face substantial tax bills. The tax bill at the 25th percentile is $16,571, while at the 75th percentile, it's $17,871, and at the 90th percentile, it reaches $20,617. These figures are significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. High property taxes can strain homeowners, making it crucial to ensure that assessments are fair and accurate. Ownwell can help homeowners in the Village of Garden City save on their property tax bills by providing expert property tax appeal and exemption services. By reviewing assessments and identifying potential errors or opportunities for exemptions, Ownwell can help reduce the financial burden on homeowners, ensuring they pay only their fair share.

Property Tax Bills Across Village Of Garden City, New York

Source: Ownwell

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$850

$26,740

$52,630

Average Village Of Garden City Tax Bill

$16,768

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 Village Of Garden City, New York

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
11530$14,580$16,571$16,768$17,871$20,617

Source: Ownwell

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