Chestertown, New York Property Taxes
The median property tax rate in Chestertown, NY is 1.25%, 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 Chestertown at $230,850, the typical annual property tax bill reaches $2,996, exceeding the national median of $2,690. Property taxes in Chestertown 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 Chestertown'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 Chestertown 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
Chestertown, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,886
$2,853
Ownwell’s Chestertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chestertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chestertown 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 Chestertown, New York
Property taxes in Chestertown, New York, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Chestertown is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chestertown set these rates annually, and they can vary across different neighborhoods. Each year, Chestertown 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 Chestertown's effective property tax rate to other areas in Warren County and the national median. For comparison, the zip code 12817 has both the highest and lowest median property tax rate of 1.25%. Understanding how these areas compare with Chestertown provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chestertown Tax Rate
1.25%
Average Warren County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chestertown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12817 | 1.18% | 1.21% | 1.25% | 1.26% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Chestertown, New York
In Chestertown, 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 Warren 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 Chestertown, 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 Chestertown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 12817 at $2,996, which is also the lowest median tax bill in the area.
Average Chestertown Assessed Value
$230,850
Average Warren County Assessed Value
$215,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chestertown, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12817 | $83,740 | $151,350 | $230,850 | $350,875 | $528,580 |
Source: Ownwell
Property Tax Bills Across Chestertown, New York
Property tax bills in Chestertown, located in Warren County, NY, 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, who evaluates the property's market value and then applies an assessment ratio to arrive at the taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, condition, and any improvements or renovations made. For homeowners in Chestertown, the median home price is $230,850. Property tax bills can vary significantly, with the 25th percentile at $1,884 and the 75th percentile at $4,474. The 90th percentile sees even higher bills, reaching up to $6,769. Compared to the national median property tax rate of 0.99%, the property tax rates in Chestertown reflect the local economic conditions and public service funding needs. These taxes directly impact homeowners by contributing to community services such as schools, roads, and emergency services.
Average Chestertown Tax Bill
$2,996
Average Warren County Tax Bill
$4,027
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Chestertown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12817 | $1,114 | $1,884 | $2,996 | $4,474 | $6,769 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Warren Assessment Review Commission | |
| Website | imo.warrencountyny.gov |