Esopus, New York Property Taxes
The median property tax rate in Esopus, NY is 2.73%, 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 Esopus at $264,486, the typical annual property tax bill reaches $7,215, exceeding the national median of $2,690. Property taxes in Esopus 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 Esopus'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 Esopus 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
Esopus, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$7,220
$7,139
Ownwell’s Esopus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Esopus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Esopus 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 Esopus, New York
Property taxes in Esopus, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Esopus is 2.73%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Esopus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Esopus 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 Esopus's effective property tax rate to other counties in New York and the national median. For comparison, the 12429 zip code has the highest median property tax rate of 2.73%, while the same zip code also has the lowest median tax rate of 2.73%. Understanding how these areas compare with Esopus provides valuable insights into the varying tax landscape across Ulster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Esopus Tax Rate
2.73%
Average Ulster County Tax Rate
2.67%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Esopus, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12429 | 2.60% | 2.68% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Esopus, New York
In Esopus, 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 Ulster 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 Esopus, 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 Esopus is $264,486, with property tax bills ranging from $5,919 at the 25th percentile to $15,197 at the 90th percentile. Notably, the zip code 12429 has the highest median tax bill at $7,215. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Esopus Assessed Value
$264,486
Average Ulster County Assessed Value
$268,649
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Esopus, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12429 | $187,574 | $220,329 | $264,486 | $325,504 | $598,134 |
Source: Ownwell
Property Tax Bills Across Esopus, New York
In Esopus, Ulster County, 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 property's market value and applies an assessment ratio. The tax rate is set by various taxing authorities, including the county, school districts, and other local entities. For homeowners in Esopus, the median home price is $264,486, which serves as a foundation for calculating property taxes. The tax bill for the 25th percentile is $5,919, while for the 75th percentile, it's $8,770. For those at the 90th percentile, the tax bill can reach up to $15,197. The highest and lowest median tax bill in the area is $7,215, both found in the 12429 zip code. Comparatively, the national median property tax rate is 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life and property values in the community.
Average Esopus Tax Bill
$7,215
Average Ulster County Tax Bill
$6,879
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Esopus, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12429 | $5,077 | $5,919 | $7,215 | $8,770 | $15,197 |
Source: Ownwell