Brainard, New York Property Taxes
The median property tax rate in Brainard, NY is 1.69%, 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 Brainard at $240,000, the typical annual property tax bill reaches $4,128, exceeding the national median of $2,690. Property taxes in Brainard 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 Brainard'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 Brainard 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
Brainard, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$4,056
$4,010
Ownwell’s Brainard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brainard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brainard 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 Brainard, New York
Property taxes in Brainard, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brainard is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brainard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brainard 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 Brainard's effective property tax rate to other counties in New York and the national median. For comparison, the 12024 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these areas compare with Brainard provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brainard Tax Rate
1.69%
Average Columbia County Tax Rate
1.71%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brainard, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12024 | 1.58% | 1.69% | 1.69% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Brainard, New York
In Brainard, 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 Columbia 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 Brainard, 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 instance, the median home price in Brainard is $240,000, and the median tax bills range from $2,780 at the 25th percentile to $7,762 at the 90th percentile. The zip code 12024 has both the highest and lowest median tax bill, recorded at $4,128. 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 processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brainard Assessed Value
$240,000
Average Columbia County Assessed Value
$284,810
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brainard, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12024 | $124,821 | $166,667 | $240,000 | $350,000 | $480,000 |
Source: Ownwell
Property Tax Bills Across Brainard, New York
Property tax bills in Brainard, located in Columbia County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is intended to reflect the market value of the property. For a median home price of $240,000, homeowners can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $2,780, while at the 75th percentile, they can reach up to $5,908. Those in the 90th percentile may see tax bills as high as $7,762. These variations are influenced by factors such as property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Brainard's rates can be relatively high, impacting homeowners' annual expenses. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Brainard Tax Bill
$4,128
Average Columbia County Tax Bill
$4,915
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Brainard, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12024 | $2,096 | $2,780 | $4,128 | $5,908 | $7,762 |
Source: Ownwell