Newtonville, New York Property Taxes
The median property tax rate in Newtonville, NY is 2.26%, 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 Newtonville at $251,121, the typical annual property tax bill reaches $5,505, exceeding the national median of $2,690. Property taxes in Newtonville 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 Newtonville'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 Newtonville 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
Newtonville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$5,675
$5,611
Ownwell’s Newtonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtonville 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 Newtonville, New York
Property taxes in Newtonville, 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 Newtonville is 2.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Newtonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtonville 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 Newtonville's effective property tax rate to other counties in New York and the national median. For comparison, the 12110 zip code has the highest median property tax rate of 2.26%, while the same zip code also has the lowest median tax rate of 2.26%. Understanding how these areas compare with Newtonville 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 Newtonville Tax Rate
2.26%
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 Newtonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12110 | 2.17% | 2.23% | 2.26% | 2.28% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Newtonville, New York
In Newtonville, NY, 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 Newtonville, 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 Newtonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 12110, both valued at $5,505.
Average Newtonville Assessed Value
$251,121
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 Newtonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12110 | $202,870 | $227,803 | $251,121 | $286,323 | $347,838 |
Source: Ownwell
Property Tax Bills Across Newtonville, New York
In Newtonville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate applied to this assessed value is set by the county and local taxing jurisdictions. For homeowners in Albany County, the median home price stands at $251,121. Property tax bills can vary significantly, with the 25th percentile paying around $4,936, while those in the 75th percentile face bills of approximately $6,355. At the high end, the 90th percentile sees tax bills reaching $7,706. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Newtonville pay higher property taxes compared to the national median property tax rate of 0.99%, reflecting the area's commitment to maintaining robust community services. The highest and lowest median tax bills in the region both stand at $5,505, indicating a relatively consistent tax rate across different neighborhoods. Understanding these factors helps homeowners anticipate their financial responsibilities and the community benefits supported by their tax contributions.
Average Newtonville Tax Bill
$5,505
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 Newtonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12110 | $4,553 | $4,936 | $5,505 | $6,355 | $7,706 |
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 |