Hoosick Falls, New York Property Taxes
The median property tax rate in Hoosick Falls, NY is 2.98%, 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 Hoosick Falls at $135,870, the typical annual property tax bill reaches $4,286, exceeding the national median of $2,690. Property taxes in Hoosick Falls 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 Hoosick Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hoosick Falls 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
Hoosick Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$4,049
$4,003
Ownwell’s Hoosick Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hoosick Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hoosick Falls 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 Hoosick Falls, New York
Property taxes in Hoosick Falls, New York, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hoosick Falls is 2.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Hoosick Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hoosick Falls 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 Hoosick Falls' effective property tax rate to other counties in New York and the national median. For comparison, the 12090 zip code has the highest median property tax rate of 2.98%, while the 12090 zip code also has the lowest median tax rate of 2.98%. Understanding how these cities compare with Hoosick Falls 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 Hoosick Falls Tax Rate
2.98%
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 Hoosick Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12090 | 2.76% | 2.91% | 2.98% | 3.48% | 3.48% |
Source: Ownwell
Property Tax Assessment Values Across Hoosick Falls, New York
In Hoosick Falls, 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 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 Hoosick Falls, 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 Hoosick Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,286, found in the zip code 12090.
Average Hoosick Falls Assessed Value
$135,870
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 Hoosick Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12090 | $73,913 | $100,000 | $135,870 | $186,685 | $260,870 |
Source: Ownwell
Property Tax Bills Across Hoosick Falls, New York
In Hoosick Falls, located in Rensselaer County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and reflects a percentage of the property's market value. Factors such as property size, location, and improvements contribute to this assessment. Homeowners in Hoosick Falls experience a range of property tax bills, with the 25th percentile tax bill at $3,251 and the 75th percentile at $5,694. The tax bills can go as high as $7,526 for the 90th percentile. The median home price in the area is $135,870, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, the tax rates in Hoosick Falls can result in a significant financial impact on homeowners. Understanding these factors helps residents anticipate their annual property tax bills and manage their household budgets effectively.
Average Hoosick Falls Tax Bill
$4,286
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 Hoosick Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12090 | $2,457 | $3,251 | $4,286 | $5,694 | $7,526 |
Source: Ownwell