Yonkers, New York Property Taxes
The median property tax rate in Yonkers, NY is 0.34%, significantly lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Yonkers at $536,842, the typical annual property tax bill amounts to $1,814, which is well below the national median of $2,690. Property taxes in Yonkers are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Yonkers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Yonkers 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
Yonkers, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$1,825
$1,805
$1,148
Average Yonkers, New York Tax Savings
Ownwell’s Yonkers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yonkers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yonkers 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 Yonkers. 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 Yonkers, New York
Property taxes in Yonkers, 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 Yonkers is 1.62%, significantly higher than both the New York state median of 1.38% and the U.S. national median of 0.99%. Local government entities within Yonkers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yonkers 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 Yonkers's effective property tax rate to other counties in New York and the national median. For comparison, the highest median property tax rate in Westchester County is in Scarsdale, with a rate of 2.38%, while the lowest median tax rate is in Mount Vernon, at 1.25%. Understanding how these cities compare with Yonkers 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 Yonkers Tax Rate
0.34%
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 Yonkers, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10701 | 0.34% | 0.34% | 0.35% | 0.35% | 0.38% |
| 10703 | 0.34% | 0.34% | 0.35% | 0.35% | 0.35% |
| 10704 | 0.31% | 0.34% | 0.34% | 0.34% | 0.34% |
| 10705 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
| 10707 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
| 10710 | 0.32% | 0.34% | 0.34% | 0.34% | 0.35% |
Source: Ownwell
$1,148
Average Yonkers Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Yonkers, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yonkers, New York. 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 local 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 Yonkers, 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. Notably, the zip code 10707 has the highest median tax bill at $2,388, while zip code 10701 has the lowest at $1,642. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yonkers Assessed Value
$536,842
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 Yonkers, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10701 | $115,221 | $253,842 | $473,684 | $594,737 | $731,579 |
| 10703 | $204,263 | $394,737 | $505,000 | $597,921 | $705,263 |
| 10704 | $368,421 | $457,895 | $542,106 | $657,894 | $789,473 |
| 10705 | $365,663 | $458,869 | $552,631 | $646,210 | $742,105 |
| 10707 | $577,895 | $636,842 | $700,000 | $771,052 | $916,669 |
| 10710 | $382,631 | $500,000 | $578,948 | $668,421 | $768,421 |
Source: Ownwell
$1,148
Average Yonkers Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Yonkers, New York
In Yonkers, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $536,842, property taxes can significantly impact homeowners. The assessed value is determined by the Westchester County Assessor's Office, which then applies the local tax rate to this value. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Yonkers face a range of property tax bills, from $1,428 at the 25th percentile to $2,585 at the 90th percentile. The highest median tax bill in Yonkers is $2,388 in the 10707 zip code, while the lowest is $1,642 in the 10701 zip code. Ownwell's property tax consulting services can help homeowners in Yonkers save on their tax bills. By leveraging expertise in property tax appeals and exemptions, Ownwell can identify discrepancies in assessments and ensure homeowners are not overpaying. This tailored approach can lead to substantial savings, providing financial relief and peace of mind.
Average Yonkers Tax Bill
$1,814
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 Yonkers, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10701 | $394 | $890 | $1,642 | $2,047 | $2,514 |
| 10703 | $682 | $1,338 | $1,734 | $2,065 | $2,464 |
| 10704 | $1,131 | $1,508 | $1,815 | $2,214 | $2,694 |
| 10705 | $1,180 | $1,537 | $1,868 | $2,199 | $2,549 |
| 10707 | $1,972 | $2,173 | $2,388 | $2,631 | $3,128 |
| 10710 | $1,169 | $1,661 | $1,948 | $2,245 | $2,604 |
Source: Ownwell
$1,148
Average Yonkers Tax Savings
Save on your property taxes & more with Ownwell.
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Dates |
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Links | |
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| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
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