Round Lake, New York Property Taxes
The median property tax rate in Round Lake, NY is 2.19%, 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 Round Lake at $254,000, the typical annual property tax bill reaches $5,102, exceeding the national median of $2,690. Property taxes in Round Lake 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 Round Lake'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 Round Lake 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
Round Lake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$5,563
$5,500
Ownwell’s ROUND LAKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ROUND LAKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ROUND LAKE 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 Round Lake, New York
Property taxes in Round Lake, New York, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Lake is 2.19%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Round Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Lake 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 Round Lake's effective property tax rate to other counties in New York and the national median. For comparison, the 12151 zip code has the highest median property tax rate of 2.19%, while the 12151 zip code has the lowest median tax rate of 2.19%. Understanding how these cities compare with Round Lake 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 Round Lake Tax Rate
2.19%
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 Round Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12151 | 1.55% | 1.97% | 2.19% | 2.24% | 2.33% |
Source: Ownwell
Property Tax Assessment Values Across Round Lake, New York
In Round Lake, 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 Round Lake, 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 Round Lake 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 $5,102, found in zip code 12151.
Average Round Lake Assessed Value
$254,000
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 Round Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12151 | $157,500 | $194,000 | $254,000 | $351,000 | $424,710 |
Source: Ownwell
Property Tax Bills Across Round Lake, New York
In Round Lake, located in Saratoga County, NY, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Round Lake is $254,000, and the property tax rate is applied to this assessed value to determine your tax bill. Various factors influence the assessed value, including the property's size, location, and condition. Homeowners in Round Lake can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is around $3,958, while at the 75th percentile, it rises to approximately $7,496. For those in the 90th percentile, the tax bill can be as high as $8,800. These figures illustrate the range of property tax burdens that homeowners might face, depending on their property's assessed value and other contributing factors. Comparatively, the national median property tax rate is 0.99%, making Round Lake's property taxes relatively high. This financial obligation can impact homeowners by affecting their overall housing costs and long-term financial planning.
Average Round Lake Tax Bill
$5,102
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 Round Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12151 | $1,755 | $3,958 | $5,102 | $7,496 | $8,800 |
Source: Ownwell