Russell, New York Property Taxes
The median property tax rate in Russell, NY is 2.72%, 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 Russell at $61,374, the typical annual property tax bill reaches $1,697, which is below the national median of $2,690. Property taxes in Russell 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 Russell'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 Russell 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
Russell, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.72%
Estimate Property Tax Bill
$1,669
$1,651
Ownwell’s Russell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russell 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 Russell, New York
Property taxes in Russell, New York, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Russell is 2.72%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Russell set these rates annually, and they can vary considerably across different neighborhoods. Each year, Russell 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 Russell's effective property tax rate to other areas in New York and the national median. For comparison, the 13684 ZIP code has the highest median property tax rate of 2.72%, while the same ZIP code also has the lowest median tax rate of 2.72%. Understanding how these figures compare with Russell provides valuable insights into the varying tax landscape across St. Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Russell Tax Rate
2.72%
Average St. Lawrence County Tax Rate
3.02%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russell, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13684 | 2.50% | 2.72% | 2.72% | 2.77% | 6.18% |
Source: Ownwell
Property Tax Assessment Values Across Russell, New York
In Russell, 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 St. Lawrence 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 Russell, 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 Russell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13684 has both the highest and lowest median tax bill at $1,697.
Average Russell Assessed Value
$61,374
Average St. Lawrence County Assessed Value
$83,455
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Russell, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13684 | $19,020 | $33,669 | $61,374 | $96,183 | $129,282 |
Source: Ownwell
Property Tax Bills Across Russell, New York
In Russell, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the market value of the property. Homeowners in Russell experience a median home price of $61,374. Property tax bills can vary significantly; for example, the 25th percentile tax bill is $1,080, while the 75th percentile reaches up to $2,627. The 90th percentile tax bill is notably higher at $3,531. Several factors influence the final tax bill, including the property's location within St. Lawrence County and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $1,697, found in the 13684 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Russell may find their tax obligations differing based on these assessments and local rates, impacting their annual financial planning.
Average Russell Tax Bill
$1,697
Average St. Lawrence County Tax Bill
$2,611
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Russell, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13684 | $647 | $1,080 | $1,697 | $2,627 | $3,531 |
Source: Ownwell