Mount Vernon, New York Property Taxes
The median property tax rate in Mount Vernon, NY is 3.21%, 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 Mount Vernon at $472,637, the typical annual property tax bill reaches $13,766, exceeding the national median of $2,690. Property taxes in Mount Vernon 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 Mount Vernon'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 Mount Vernon 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
Mount Vernon, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.21%
Estimate Property Tax Bill
$15,172
$15,001
$1,148
Average Mount Vernon, New York Tax Savings
Ownwell’s Mount Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Vernon to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Mount Vernon. 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 Mount Vernon, New York
Property taxes in Mount Vernon, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Vernon is 3.21%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Mount Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Vernon 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 Mount Vernon's effective property tax rate to other areas in Westchester County and the national median. For comparison, the 10550 zip code has the highest median property tax rate of 3.21%, while the 10553 zip code has the lowest median tax rate of 2.92%. Understanding how these areas compare with Mount Vernon provides valuable insights into the varying tax landscape across Westchester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Vernon Tax Rate
3.21%
Average Westchester County Tax Rate
2.29%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Vernon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10550 | 2.30% | 2.74% | 3.21% | 3.21% | 3.21% |
| 10552 | 2.45% | 2.86% | 3.21% | 3.21% | 3.21% |
| 10553 | 2.25% | 2.75% | 2.92% | 3.21% | 3.21% |
Source: Ownwell
$1,148
Average Mount Vernon Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mount Vernon, New York
In Mount Vernon, 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 Westchester County Assessor 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 Mount Vernon, 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. For instance, the median home price in Mount Vernon is $472,637, with the 25th percentile tax bill at $10,408 and the 75th percentile tax bill at $17,125. The highest median tax bill is $16,794 in zip code 10552, while the lowest median tax bill is $11,996 in zip code 10550. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mount Vernon, New York
Source: Ownwell
$143,650
$2,206,877
$4,270,103
Average Mount Vernon Assessed Value
$472,637
Average Westchester County Assessed Value
$589,473
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Vernon, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10550 | $273,632 | $333,334 | $412,935 | $497,513 | $592,737 |
| 10552 | $410,647 | $482,587 | $557,213 | $646,767 | $786,070 |
| 10553 | $283,582 | $368,159 | $447,761 | $522,388 | $597,015 |
Source: Ownwell
$1,148
Average Mount Vernon Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mount Vernon, New York
In Mount Vernon, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by Westchester County. For instance, the median home price in Mount Vernon is $472,637, leading to varying tax bills. Homeowners in the 25th percentile pay around $10,408, while those in the 75th percentile face bills of about $17,125. The highest median tax bill in the area is $16,794 in zip code 10552, and the lowest is $11,996 in zip code 10550. These tax bills can significantly impact homeowners' finances, making it crucial to ensure they are fair and accurate. Ownwell can help homeowners in Mount Vernon save on their property tax bills by providing expert property tax appeal services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify discrepancies and file appeals on your behalf, potentially lowering your tax bill and saving you money.
Average Mount Vernon Tax Bill
$13,766
Average Westchester County Tax Bill
$12,812
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Vernon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10550 | $7,037 | $9,437 | $11,996 | $15,194 | $18,032 |
| 10552 | $10,509 | $13,755 | $16,794 | $19,993 | $24,642 |
| 10553 | $7,042 | $10,073 | $12,955 | $15,834 | $18,233 |
Source: Ownwell
$1,148
Average Mount Vernon Tax Savings
Save on your property taxes & more with Ownwell.
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Dates |
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Links | |
|---|---|
| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
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