Ravena, New York Property Taxes
The median property tax rate in Ravena, NY is 0.74%, considerably lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Ravena at $181,053, the typical annual property tax bill reaches $1,320, significantly below the national median of $2,690. Property taxes in Ravena 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 Ravena'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 Ravena 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
Ravena, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,340
$1,325
Ownwell’s Ravena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravena 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 Ravena, New York
Property taxes in Ravena, 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 Ravena is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Ravena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravena 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 Ravena's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12143 has the highest median property tax rate of 0.74%, while the lowest median tax rate is also 0.74% in the same zip code. Understanding how these cities compare with Ravena 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 Ravena Tax Rate
0.74%
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 Ravena, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12143 | 0.58% | 0.58% | 0.74% | 0.74% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Ravena, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ravena, 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 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 Ravena, 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 example, the median home price in Ravena is $181,053, with tax bills ranging from $958 at the 25th percentile to $2,300 at the 90th percentile. By understanding 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 Ravena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ravena Assessed Value
$181,053
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 Ravena, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12143 | $122,632 | $150,263 | $181,053 | $224,211 | $273,684 |
Source: Ownwell
Property Tax Bills Across Ravena, New York
In Ravena, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $181,053 in Albany County, homeowners can expect a 25th percentile tax bill of approximately $958 and a 75th percentile tax bill of around $1,869. The 90th percentile tax bill can reach up to $2,300, indicating a significant range depending on the home's assessed value and specific tax rate applied. Factors such as property size, location, and any improvements or renovations can influence the assessed value. In comparison to the national median property tax rate of 0.99%, homeowners in Ravena might find their tax bills to be relatively moderate. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Ravena Tax Bill
$1,320
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 Ravena, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12143 | $712 | $958 | $1,320 | $1,869 | $2,300 |
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 |