Green Island, New York Property Taxes
The median property tax rate in Green Island, NY is 3.11%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With the median home value in Green Island at $153,154, the typical annual property tax bill reaches $4,720, far exceeding the national median of $2,690. Property taxes in Green Island are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Green Island'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 Green Island 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
Green Island, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.11%
Estimate Property Tax Bill
$4,763
$4,709
Ownwell’s Green Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Island 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 Green Island, New York
Property taxes in Green Island, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Green Island is 3.11%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Green Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Island 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 Green Island's effective property tax rate to other counties in New York and the national median. For comparison, the ZIP code 12183 has the highest median property tax rate of 3.11%, while the same ZIP code also has the lowest median tax rate of 3.11%. Understanding how these cities compare with Green Island provides valuable insights into the varying tax landscape across Albany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Island Tax Rate
3.11%
Average Albany County Tax Rate
2.39%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Island, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12183 | 3.08% | 3.08% | 3.11% | 3.13% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Green Island, New York
In Green Island, 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 Albany 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 Green Island, 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 Green Island 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 $4,720, found in the 12183 zip code.
Average Green Island Assessed Value
$153,154
Average Albany County Assessed Value
$213,453
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Island, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12183 | $127,476 | $136,012 | $153,154 | $160,030 | $178,548 |
Source: Ownwell
Property Tax Bills Across Green Island, New York
In Green Island, Albany County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $153,154, homeowners can expect varying tax bills depending on their property’s assessed value and the local tax rate. The 25th percentile tax bill is approximately $4,240, while the 75th percentile tax bill is around $4,987. At the 90th percentile, homeowners might face tax bills as high as $5,531. These figures highlight how property taxes can significantly impact homeowners, particularly when the local tax rate is above the national median property tax rate of 0.99%. In Green Island, the highest and lowest median tax bills are both recorded at $4,720 in the 12183 zip code, indicating a consistent tax rate within that area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Green Island Tax Bill
$4,720
Average Albany County Tax Bill
$4,990
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Island, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12183 | $3,945 | $4,240 | $4,720 | $4,987 | $5,531 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Albany Assessment Review Commission | |
| Website | albany.sdgnys.com |