Middle Falls, New York Property Taxes
The median property tax rate in Middle Falls, NY is 2.51%, 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 Middle Falls, the typical annual property tax bill reaches $2,848, exceeding the national median of $2,690. Property taxes in Middle Falls 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 Middle Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Middle Falls 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
Middle Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$2,849
$2,817
Ownwell’s Middle Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middle Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middle Falls 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 Middle Falls, New York
Property taxes in Middle Falls, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middle Falls is 2.51%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Middle Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middle Falls 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 Middle Falls's effective property tax rate to other counties in New York and the national median. For comparison, the 12848 zip code has the highest median property tax rate of 2.51%, while the same zip code also has the lowest median tax rate of 2.51%. Understanding how these areas compare with Middle Falls provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middle Falls Tax Rate
2.51%
Average Washington County Tax Rate
2.41%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middle Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12848 | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Middle Falls, New York
In Middle Falls, 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 Washington 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 Middle Falls, 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 Middle Falls 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 $2,848, found in the 12848 zip code.
Property Tax Assessment Values Across Middle Falls, New York
Source: Ownwell
$96,720
$606,110
$1,115,500
Average Middle Falls Assessed Value
$113,500
Average Washington County Assessed Value
$158,585
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middle Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12848 | $113,500 | $113,500 | $113,500 | $113,500 | $113,500 |
Source: Ownwell
Property Tax Bills Across Middle Falls, New York
In Middle Falls, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. For instance, with a median home price of $113,500 in Middle Falls, homeowners can expect their property tax bill to be around $2,848, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Middle Falls should be aware that their tax bill may fluctuate based on changes in the assessed value or adjustments in the local tax rate. This higher tax rate can impact homeowners by increasing their annual expenses, making it essential to budget accordingly. Despite the higher tax bill, these funds contribute to essential public services such as schools, infrastructure, and emergency services, ultimately benefiting the community.
Average Middle Falls Tax Bill
$2,848
Average Washington County Tax Bill
$3,943
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Middle Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12848 | $2,848 | $2,848 | $2,848 | $2,848 | $2,848 |
Source: Ownwell