Castleton On Hudson, New York Property Taxes
The median property tax rate in Castleton on Hudson, NY, is 2.96%, 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 Castleton on Hudson at $239,494, the typical annual property tax bill reaches $7,098, exceeding the national median of $2,690. Property taxes in Castleton on Hudson 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 Castleton on Hudson'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 Castleton on Hudson 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
Castleton On Hudson, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.96%
Estimate Property Tax Bill
$7,089
$7,009
Ownwell’s Castleton on Hudson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castleton on Hudson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castleton on Hudson 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 Castleton On Hudson, New York
Property taxes in Castleton on Hudson, New York, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Castleton on Hudson is 2.96%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Castleton on Hudson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castleton on Hudson 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 Castleton on Hudson's effective property tax rate to other counties in New York and the national median. For comparison, the 12033 zip code has both the highest and lowest median property tax rate at 2.96%. Understanding how these cities compare with Castleton on Hudson provides valuable insights into the varying tax landscape across Rensselaer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castleton On Hudson Tax Rate
2.96%
Average Rensselaer County Tax Rate
2.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castleton On Hudson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | 2.83% | 2.90% | 2.96% | 3.05% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Castleton On Hudson, New York
In Castleton on Hudson, 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 Rensselaer 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 Castleton on Hudson, 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. The median home price here is $239,494, and the median tax bill stands at $7,098, which is significantly higher than the national median property tax rate of 0.99%. 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 Castleton On Hudson, New York
Source: Ownwell
$43,478
$224,967
$406,456
Average Castleton On Hudson Assessed Value
$239,494
Average Rensselaer County Assessed Value
$193,797
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castleton On Hudson, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | $151,747 | $190,506 | $239,494 | $303,481 | $409,418 |
Source: Ownwell
Property Tax Bills Across Castleton On Hudson, New York
In Castleton on Hudson, located in Rensselaer County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The tax rate is applied to the assessed value, which is determined by the local assessor's office and reflects a percentage of the property's market value. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that properties with higher market values will generally have higher tax bills. In Castleton on Hudson, the median home price is $239,494, and the median property tax bill is $7,098, significantly above the national median property tax rate of 0.99%. Tax bills can vary widely, with the 25th percentile at $5,750 and the 75th percentile reaching $9,029. For the top 10% of properties, tax bills can go up to $12,010. These property taxes fund local services such as schools, infrastructure, and public safety, directly impacting the quality of life in the community.
Average Castleton On Hudson Tax Bill
$7,098
Average Rensselaer County Tax Bill
$5,040
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Castleton On Hudson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | $4,558 | $5,750 | $7,098 | $9,029 | $12,010 |
Source: Ownwell