Willow, New York Property Taxes
The median property tax rate in Willow, NY is 1.60%, 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 Willow at $472,131, the typical annual property tax bill reaches $7,486, significantly exceeding the national median of $2,690. Property taxes in Willow 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 Willow'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 Willow 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
Willow, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$7,554
$7,469
Ownwell’s Willow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willow 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 Willow, New York
Property taxes in Willow, 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 Willow is 1.60%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Willow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow 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 Willow's effective property tax rate to other counties in New York and the national median. For comparison, the 12495 zip code has both the highest and lowest median property tax rate at 1.60%. Understanding how these cities compare with Willow 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 Willow Tax Rate
1.60%
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | 1.60% | 1.60% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Willow, New York
In Willow, 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 Willow, 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. The median home price is $472,131, with tax bills ranging from $5,146 at the 25th percentile to $14,032 at the 90th percentile. Willow's highest and lowest median tax bill is $7,486, found in zip code 12495. 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 Willow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Willow Assessed Value
$472,131
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | $221,311 | $338,525 | $472,131 | $609,836 | $875,410 |
Source: Ownwell
Property Tax Bills Across Willow, New York
In Willow, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the Ulster County Assessor's Office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and condition. Homeowners in Willow experience varying tax bills depending on their property’s assessed value. For instance, the 25th percentile tax bill is approximately $5,146, whereas the 75th percentile tax bill rises to around $9,784. At the higher end, the 90th percentile tax bill can reach up to $14,032. These figures show the range of property tax burdens homeowners might face, with some paying well above the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as property taxes significantly impact annual household expenses. Accurate assessments and awareness of the local tax rate can help homeowners better plan for their financial obligations.
Average Willow Tax Bill
$7,486
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | $3,283 | $5,146 | $7,486 | $9,784 | $14,032 |
Source: Ownwell