Jasper, New York Property Taxes
The median property tax rate in Jasper, NY is 2.60%, 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 Jasper, the typical annual property tax bill reaches $2,267, slightly below the national median of $2,690. Property taxes in Jasper 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 Jasper'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 Jasper 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
Jasper, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.6%
Estimate Property Tax Bill
$2,295
$2,269
Ownwell’s Jasper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jasper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jasper 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 Jasper, New York
Property taxes in Jasper, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 2.60%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14855 has the highest median property tax rate of 2.60%, while the same zip code 14855 also has the lowest median tax rate of 2.60%. Understanding how these areas compare with Jasper provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jasper Tax Rate
2.60%
Average Steuben County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14855 | 2.19% | 2.42% | 2.60% | 2.68% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, New York
In Jasper, 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 local 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 Jasper, 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. Jasper's median home price is $88,250, with tax bills ranging from $1,610 at the 25th percentile to $5,209 at the 90th percentile. The highest and lowest median tax bills both stand at $2,267 in the 14855 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jasper Assessed Value
$88,250
Average Steuben County Assessed Value
$102,326
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jasper, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14855 | $34,000 | $59,875 | $88,250 | $144,000 | $227,750 |
Source: Ownwell
Property Tax Bills Across Jasper, New York
In Jasper, located in Steuben County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the property's market value, set by local assessors. Various factors influence this assessed value, including market trends, property size, and improvements made to the home. For example, with a median home price of $88,250, homeowners in Jasper can expect tax bills ranging from $1,610 at the 25th percentile to $5,209 at the 90th percentile. This variability illustrates how different factors can affect individual tax bills. The highest median tax bill in the area is $2,267, which aligns with the national median property tax rate of 0.99%, indicating that property taxes in Jasper can be relatively high compared to other regions. Homeowners need to be aware of these factors, as property taxes can significantly impact their annual expenses. Understanding how these elements interact helps homeowners better anticipate their financial commitments.
Average Jasper Tax Bill
$2,267
Average Steuben County Tax Bill
$2,992
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14855 | $935 | $1,610 | $2,267 | $3,689 | $5,209 |
Source: Ownwell