Modena, New York Property Taxes
The median property tax rate in Modena, NY is 2.66%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Modena at $315,298, the typical annual property tax bill reaches $8,211, far exceeding the national median of $2,690. Property taxes in Modena are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Modena'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 Modena or another part of Ulster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Modena, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.66%
Estimate Property Tax Bill
$8,387
$8,292
Ownwell’s Modena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Modena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Modena 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 Modena, New York
Property taxes in Modena, New York, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Modena stands at 2.66%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Modena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Modena 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 Modena's effective property tax rate to other regions in New York and the national median. For comparison, the 12548 zip code has the highest median property tax rate of 2.66%, while the same zip code also shows the lowest median tax rate of 2.66%. Understanding how these cities compare with Modena 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 Modena Tax Rate
2.66%
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 Modena, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12548 | 2.53% | 2.66% | 2.66% | 2.68% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Modena, New York
In Modena, 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. 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 Modena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 12548 has the highest median tax bill at $8,211.
Average Modena Assessed Value
$315,298
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 Modena, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12548 | $41,045 | $214,925 | $315,298 | $376,119 | $447,388 |
Source: Ownwell
Property Tax Bills Across Modena, New York
In Modena, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in the area is $315,298. Homeowners' tax bills vary significantly, with the 25th percentile at $5,467 and the 75th percentile reaching $9,941. The 90th percentile tax bill can go up to $11,611. These figures are influenced by factors such as property size, location, and any applicable exemptions. The local tax rate in Ulster County is a key component in determining the final tax bill, and it can vary from year to year based on budgetary needs and economic conditions. This rate is applied to the assessed value of the property to calculate the tax owed. For homeowners, these taxes can represent a significant annual expense, often higher than the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Modena Tax Bill
$8,211
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 Modena, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12548 | $835 | $5,467 | $8,211 | $9,941 | $11,611 |
Source: Ownwell