Watkins Glen, New York Property Taxes
The median property tax rate in Watkins Glen, NY is 1.98%, 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 Watkins Glen at $152,900, the typical annual property tax bill reaches $3,649, exceeding the national median of $2,690. Property taxes in Watkins Glen 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 Watkins Glen'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 Watkins Glen 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
Watkins Glen, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$3,027
$2,993
Ownwell’s Watkins Glen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watkins Glen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watkins Glen 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 Watkins Glen, New York
Property taxes in Watkins Glen, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watkins Glen is 1.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Watkins Glen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watkins Glen 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 Watkins Glen's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14891 has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Watkins Glen provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Watkins Glen Tax Rate
1.98%
Average Schuyler County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Watkins Glen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14891 | 1.80% | 1.80% | 1.98% | 3.10% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Watkins Glen, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Watkins Glen, NY. 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 Schuyler 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 Watkins Glen, 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 Watkins Glen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,649 in zip code 14891, which also has the lowest median tax bill at $3,649.
Average Watkins Glen Assessed Value
$152,900
Average Schuyler County Assessed Value
$150,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Watkins Glen, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14891 | $64,700 | $105,900 | $152,900 | $197,300 | $269,400 |
Source: Ownwell
Property Tax Bills Across Watkins Glen, New York
In Watkins Glen, located in Schuyler County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Watkins Glen is $152,900. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $2,284 and the 75th percentile tax bill reaching $4,996. For those in the 90th percentile, tax bills can be as high as $6,312. The tax rate in Watkins Glen is influenced by various factors, including the local government's budgetary needs and public services funding requirements. This rate is applied to the assessed value of the property to determine the final tax bill. Compared to the national median property tax rate of 0.99%, property taxes in Watkins Glen can be substantial, impacting homeowners' annual expenses. Understanding these factors can help homeowners better anticipate their financial responsibilities and plan accordingly.
Average Watkins Glen Tax Bill
$3,649
Average Schuyler County Tax Bill
$3,536
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Watkins Glen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14891 | $1,314 | $2,284 | $3,649 | $4,996 | $6,312 |
Source: Ownwell