Kerhonkson, New York Property Taxes
The median property tax rate in Kerhonkson, NY is 1.81%, 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 Kerhonkson, the typical annual property tax bill reaches $4,240, exceeding the national median of $2,690. Property taxes in Kerhonkson 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 Kerhonkson'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 Kerhonkson 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
Kerhonkson, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$4,160
$4,113
Ownwell’s Kerhonkson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kerhonkson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kerhonkson 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 Kerhonkson, New York
Property taxes in Kerhonkson, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kerhonkson is 1.81%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kerhonkson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kerhonkson 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 Kerhonkson's effective property tax rate to other counties in New York and the national median. For comparison, the 12446 zip code has the highest median property tax rate of 1.81%, while the same zip code also has the lowest median tax rate of 1.81%. Understanding how these cities compare with Kerhonkson 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 Kerhonkson Tax Rate
1.81%
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 Kerhonkson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12446 | 1.76% | 1.81% | 1.81% | 1.81% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Kerhonkson, New York
In Kerhonkson, 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 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 Kerhonkson, 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 Kerhonkson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Kerhonkson both stand at $4,240 in the 12446 zip code, highlighting the importance of understanding your specific tax obligations.
Average Kerhonkson Assessed Value
$229,853
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 Kerhonkson, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12446 | $90,653 | $145,856 | $229,853 | $349,641 | $482,213 |
Source: Ownwell
Property Tax Bills Across Kerhonkson, New York
In Kerhonkson, located in Ulster County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors, such as property size, location, and market conditions, influence the assessed value. Homeowners in Kerhonkson face a range of property tax bills. For instance, the 25th percentile tax bill is around $2,934, while those in the 75th percentile pay approximately $6,326. At the higher end, the 90th percentile tax bill reaches up to $8,613. Compared to the national median property tax rate of 0.99%, Kerhonkson's property taxes can significantly impact homeowners, particularly those with higher-valued properties. The median home price in this region is $229,853, which means that even modest homes can result in substantial tax obligations. Understanding these factors is crucial for homeowners to anticipate their annual expenses and manage their finances effectively.
Average Kerhonkson Tax Bill
$4,240
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 Kerhonkson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12446 | $1,641 | $2,934 | $4,240 | $6,326 | $8,613 |
Source: Ownwell