Kingston, New York Property Taxes
The median property tax rate in Kingston, NY, is 3.61%, 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 Kingston at $227,941, the typical annual property tax bill reaches $7,525, significantly exceeding the national median of $2,690. Property taxes in Kingston 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 Kingston'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 Kingston 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
Kingston, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.61%
Estimate Property Tax Bill
$8,229
$8,136
Ownwell’s Kingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingston 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 Kingston, New York
Property taxes in Kingston, New York, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingston is 3.61%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kingston set these rates annually, and they can vary across different neighborhoods. Each year, Kingston 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 Kingston's effective property tax rate to other counties in New York and the national median. For comparison, the 12401 zip code has the highest median property tax rate of 3.61%, while the same zip code also has the lowest median tax rate of 3.61%. Understanding how these cities compare with Kingston 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 Kingston Tax Rate
3.61%
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 Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | 2.53% | 3.06% | 3.61% | 3.61% | 3.61% |
Source: Ownwell
Property Tax Assessment Values Across Kingston, New York
In Kingston, NY, 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 Kingston, 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 Kingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12401 has both the highest and lowest median tax bill, which is $7,525.
Average Kingston Assessed Value
$227,941
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 Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | $144,286 | $182,857 | $227,941 | $303,571 | $424,316 |
Source: Ownwell
Property Tax Bills Across Kingston, New York
In Kingston, located in Ulster County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Homeowners in Kingston face a median property tax bill of $7,525, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For example, the tax bill for properties in the 25th percentile is around $5,876, while those in the 75th percentile can expect to pay about $9,914. High-value properties, such as those in the 90th percentile, may see tax bills as high as $13,341. These property taxes significantly impact homeowners, influencing their overall cost of living and potentially affecting property values. Homeowners must budget for these taxes, which can vary widely depending on the property's assessed value and applicable tax rates.
Average Kingston Tax Bill
$7,525
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 Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | $4,418 | $5,876 | $7,525 | $9,914 | $13,341 |
Source: Ownwell