Halfmoon, New York Property Taxes
The median property tax rate in Halfmoon, NY is 1.90%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Halfmoon at $273,684, the typical annual property tax bill reaches $4,983, surpassing the national median of $2,690. Property taxes in Halfmoon 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 Halfmoon'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 Halfmoon 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
Halfmoon, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$5,200
$5,141
Ownwell’s Halfmoon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halfmoon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halfmoon 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 Halfmoon, New York
Property taxes in Halfmoon, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Halfmoon is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Halfmoon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halfmoon 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 Halfmoon's effective property tax rate to other areas in Saratoga County and the national median. For comparison, the zip code 12065 has both the highest and lowest median property tax rate of 1.90%. Understanding how these areas compare with Halfmoon provides valuable insights into the varying tax landscape across Saratoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halfmoon Tax Rate
1.90%
Average Saratoga County Tax Rate
1.62%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halfmoon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12065 | 1.01% | 1.73% | 1.90% | 2.02% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Halfmoon, New York
In Halfmoon, 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 Saratoga 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 Halfmoon, 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. For instance, the median home price in Halfmoon is $273,684, with tax bills ranging from $3,090 at the 25th percentile to $10,245 at the 90th percentile. The zip code 12065 has the highest median tax bill of $4,983, which is above the national median property tax rate of 0.99%. 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 Halfmoon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Halfmoon Assessed Value
$273,684
Average Saratoga County Assessed Value
$282,609
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halfmoon, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12065 | $132,737 | $199,579 | $273,684 | $404,211 | $531,790 |
Source: Ownwell
Property Tax Bills Across Halfmoon, New York
In Halfmoon, located in Saratoga County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value typically reflects a percentage of the market value of the property. Homeowners in Halfmoon face a median property tax bill of $4,983, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any improvements made. For instance, the tax bill at the 25th percentile is $3,090, while it rises to $7,556 at the 75th percentile and $10,245 at the 90th percentile. These variations highlight how different property characteristics and local tax rates impact what homeowners ultimately pay. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly, ensuring they are prepared for these annual expenses.
Average Halfmoon Tax Bill
$4,983
Average Saratoga County Tax Bill
$4,340
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Halfmoon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12065 | $1,689 | $3,090 | $4,983 | $7,556 | $10,245 |
Source: Ownwell