Ulster Park, New York Property Taxes
The median property tax rate in Ulster Park, NY is 2.76%, 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 Ulster Park, the typical annual property tax bill reaches $7,463, exceeding the national median of $2,690. Property taxes in Ulster Park 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 Ulster Park'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 Ulster Park 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
Ulster Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.76%
Estimate Property Tax Bill
$7,602
$7,516
Ownwell’s Ulster Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ulster Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ulster Park 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 Ulster Park, New York
Property taxes in Ulster Park, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ulster Park is 2.76%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Ulster Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ulster Park 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 Ulster Park's effective property tax rate to other counties in New York and the national median. For comparison, the 12487 zip code has the highest median property tax rate of 2.76%, while the 12487 zip code also has the lowest median tax rate of 2.76%. Understanding how these cities compare with Ulster Park 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 Ulster Park Tax Rate
2.76%
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 Ulster Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12487 | 2.67% | 2.73% | 2.76% | 2.81% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Ulster Park, New York
In Ulster Park, 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 Ulster Park, 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 Ulster Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $7,463, found in the zip code 12487.
Average Ulster Park Assessed Value
$275,429
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 Ulster Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12487 | $167,117 | $215,617 | $275,429 | $357,143 | $467,160 |
Source: Ownwell
Property Tax Bills Across Ulster Park, New York
Property tax bills in Ulster Park, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property’s market value. This assessed value is then multiplied by the tax rate set by local taxing authorities to determine the annual tax bill. Homeowners in Ulster Park experience a range of tax bills, with the 25th percentile tax bill at $5,925 and the 75th percentile reaching $9,718. The 90th percentile tax bill can go up to $12,476. The median home price in Ulster Park is $275,429, which is relatively high compared to the national median property tax rate of 0.99%. For homeowners, this means a significant portion of their annual budget may be allocated to property taxes, impacting their overall financial planning. The highest and lowest median tax bills in the area are both $7,463, indicating a consistent tax burden across different properties within the same zip code (12487).
Average Ulster Park Tax Bill
$7,463
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 Ulster Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12487 | $4,368 | $5,925 | $7,463 | $9,718 | $12,476 |
Source: Ownwell