Fort Montgomery, New York Property Taxes
The median property tax rate in Fort Montgomery, NY is 2.80%, 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 Fort Montgomery at $295,100, the typical annual property tax bill reaches $8,223, far exceeding the national median of $2,690. Property taxes in Fort Montgomery 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 Fort Montgomery'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 Fort Montgomery 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
Fort Montgomery, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$8,263
$8,170
Ownwell’s Fort Montgomery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Montgomery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Montgomery 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 Fort Montgomery, New York
Property taxes in Fort Montgomery, 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 Fort Montgomery is 2.80%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fort Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Montgomery 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 Fort Montgomery's effective property tax rate to other counties in New York and the national median. For comparison, the 10922 zip code has the highest median property tax rate of 2.80%, while the same 10922 zip code also has the lowest median tax rate of 2.80%. Understanding how these cities compare with Fort Montgomery provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Montgomery Tax Rate
2.80%
Average Orange County Tax Rate
2.78%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Montgomery, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10922 | 2.77% | 2.80% | 2.80% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Fort Montgomery, New York
In Fort Montgomery, 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 Orange 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 Fort Montgomery, 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 Fort Montgomery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $8,223 in the 10922 zip code.
Property Tax Assessment Values Across Fort Montgomery, New York
Source: Ownwell
$122,700
$313,000
$503,300
Average Fort Montgomery Assessed Value
$295,100
Average Orange County Assessed Value
$278,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Montgomery, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10922 | $208,260 | $249,300 | $295,100 | $379,200 | $498,020 |
Source: Ownwell
Property Tax Bills Across Fort Montgomery, New York
In Fort Montgomery, located in Orange County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $295,100. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Various factors, including property size, location, and market conditions, influence the assessed value. Homeowners in Fort Montgomery experience property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $6,982, while at the 75th percentile, it reaches $10,600. For those in the 90th percentile, the tax bill can soar to $13,818. The highest median tax bill in the area is $8,223, which is significantly higher than the national median property tax rate of 0.99%. These high property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting housing affordability and financial planning.
Average Fort Montgomery Tax Bill
$8,223
Average Orange County Tax Bill
$7,888
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Montgomery, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10922 | $5,812 | $6,982 | $8,223 | $10,600 | $13,818 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Orange Assessment Review Commission | |
| Website | gis.orangecountygov.com |