Shrub Oak, New York Property Taxes
The median property tax rate in Shrub Oak, NY is 1.91%, 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 Shrub Oak, the typical annual property tax bill reaches $16,757, exceeding the national median of $2,690. Property taxes in Shrub Oak 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 Shrub Oak'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 Shrub Oak 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
Shrub Oak, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$18,668
$18,458
Ownwell’s Shrub Oak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shrub Oak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shrub Oak 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 Shrub Oak, New York
Property taxes in Shrub Oak, 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 Shrub Oak is 1.91%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Shrub Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shrub Oak 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 Shrub Oak's effective property tax rate to other areas in Putnam County and the national median. For comparison, the 10588 zip code has the highest median property tax rate of 1.91%, while the same zip code also has the lowest median tax rate of 1.91%. Understanding how these areas compare with Shrub Oak provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shrub Oak Tax Rate
1.91%
Average Putnam County Tax Rate
3.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | 0.99% | 1.33% | 1.91% | 2.49% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Shrub Oak, New York
In Shrub Oak, 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 Putnam 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 Shrub Oak, 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 Shrub Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $16,757, found in the 10588 zip code.
Average Shrub Oak Assessed Value
$977,400
Average Putnam County Assessed Value
$378,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | $845,560 | $895,000 | $977,400 | $1,059,800 | $1,109,240 |
Source: Ownwell
Property Tax Bills Across Shrub Oak, New York
Property tax bills in Shrub Oak, located in Putnam County, NY, are determined by multiplying the property's assessed value by the local tax rate. The assessed value is a percentage of the property's market value, which is influenced by factors such as location, size, and condition of the property. Shrub Oak's median home price stands at $977,400, significantly higher than the national median property tax rate of 0.99%. For homeowners in Shrub Oak, the tax bill can vary widely. The 25th percentile tax bill is $12,688, while the 75th percentile reaches $20,826, and the 90th percentile climbs to $23,267. This variability underscores the importance of the assessed value and local tax rates in determining the final tax amount. With the highest and lowest median tax bills both recorded at $16,757 in the zip code 10588, homeowners should be prepared for substantial property tax obligations. These taxes fund essential public services, impacting the overall cost of homeownership in the area.
Average Shrub Oak Tax Bill
$16,757
Average Putnam County Tax Bill
$11,749
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | $10,247 | $12,688 | $16,757 | $20,826 | $23,267 |
Source: Ownwell