Nyack, New York Property Taxes
The median property tax rate in Nyack, NY is 2.87%, 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 Nyack, the typical annual property tax bill reaches $12,468, exceeding the national median of $2,690. Property taxes in Nyack 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 Nyack'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 Nyack 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
Nyack, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$12,214
-$127,998
Ownwell’s Nyack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nyack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nyack 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 Nyack, New York
Property taxes in Nyack, NY, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nyack is 2.87%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Nyack set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nyack 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 Nyack's effective property tax rate to other counties in New York and the national median. For comparison, the 10960 zip code has the highest median property tax rate of 2.87%, while the same zip code also reflects the lowest median tax rate of 2.87%. Understanding how these cities compare with Nyack provides valuable insights into the varying tax landscape across Rockland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nyack Tax Rate
2.87%
Average Rockland County Tax Rate
9.36%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nyack, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10960 | 0.92% | 1.05% | 2.87% | 10.89% | 13.62% |
Source: Ownwell
Property Tax Assessment Values Across Nyack, New York
In Nyack, 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 Rockland County Assessor's 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 Nyack, 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 Nyack helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Nyack are both $12,468 in the 10960 zip code.
Average Nyack Assessed Value
$425,560
Average Rockland County Assessed Value
$130,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nyack, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10960 | $82,800 | $144,200 | $425,560 | $570,971 | $867,129 |
Source: Ownwell
Property Tax Bills Across Nyack, New York
In Nyack, Rockland County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the local assessor's office. Factors such as property size, location, and improvements can influence the assessed value. For example, with a median home price of $425,560, homeowners might see a range of tax bills. The 25th percentile tax bill is around $5,677, while the 75th percentile reaches up to $17,535, and the 90th percentile can be as high as $25,931. The highest median tax bill in Nyack, recorded at $12,468, is significantly higher than the national median property tax rate of 0.99%. These tax bills can substantially impact homeowners, influencing decisions related to buying, selling, and maintaining properties. Higher property taxes can lead to increased monthly mortgage payments, making it crucial for homeowners to understand their tax obligations fully.
Average Nyack Tax Bill
$12,468
Average Rockland County Tax Bill
$10,993
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Nyack, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10960 | $3,810 | $5,677 | $12,468 | $17,535 | $25,931 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Rockland Assessment Review Commission | |
| Website | app.regrid.com |