Hinsdale, New York Property Taxes
The median property tax rate in Hinsdale, NY is 1.62%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With a median home value of $73,418 in Hinsdale, the typical annual property tax bill reaches $1,193, which is below the national median of $2,690. Property taxes in Hinsdale 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 Hinsdale'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 Hinsdale 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
Hinsdale, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$1,189
$1,176
Ownwell’s Hinsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hinsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hinsdale 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 Hinsdale, New York
Property taxes in Hinsdale, NY, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinsdale is 1.62%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hinsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinsdale 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 Hinsdale's effective property tax rate to other areas in Cattaraugus County and the national median. For comparison, the zip code 14743 has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these areas compare with Hinsdale provides valuable insights into the varying tax landscape across Cattaraugus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hinsdale Tax Rate
1.62%
Average Cattaraugus County Tax Rate
1.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinsdale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14743 | 1.42% | 1.54% | 1.62% | 1.75% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Hinsdale, New York
In Hinsdale, 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 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 Hinsdale, 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 Hinsdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $1,193 in the 14743 zip code.
Average Hinsdale Assessed Value
$73,418
Average Cattaraugus County Assessed Value
$88,597
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hinsdale, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14743 | $18,988 | $39,241 | $73,418 | $102,215 | $143,291 |
Source: Ownwell
Property Tax Bills Across Hinsdale, New York
In Hinsdale, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Hinsdale is $73,418. Property tax rates are applied to this assessed value, with the median tax bill in Cattaraugus County being $1,193. Factors like property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in the 25th percentile can expect tax bills around $652, while those in the 75th percentile might see bills closer to $1,771. At the 90th percentile, tax bills can reach up to $2,440. These taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Hinsdale’s rates can be seen as relatively moderate, making it crucial for homeowners to understand how these factors impact their annual financial obligations.
Average Hinsdale Tax Bill
$1,193
Average Cattaraugus County Tax Bill
$1,508
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinsdale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14743 | $332 | $652 | $1,193 | $1,771 | $2,440 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Cattaraugus Assessment Review Commission | |
| Website | maps.cattco.org |