Prattsville, New York Property Taxes
The median property tax rate in Prattsville, NY is 1.93%, 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 Prattsville at $181,300, the typical annual property tax bill reaches $3,512, exceeding the national median of $2,690. Property taxes in Prattsville 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 Prattsville'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 Prattsville 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
Prattsville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$3,499
$3,460
Ownwell’s Prattsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prattsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prattsville 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 Prattsville, New York
Property taxes in Prattsville, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prattsville is 1.93%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prattsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prattsville 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 Prattsville's effective property tax rate to other areas in New York and the national median. For comparison, the 12468 zip code has the highest median property tax rate of 1.93%, while the lowest median tax rate in the same zip code is also 1.93%. Understanding how these figures compare with Prattsville provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prattsville Tax Rate
1.93%
Average Delaware County Tax Rate
2.34%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prattsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12468 | 1.87% | 1.93% | 1.93% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Prattsville, New York
In Prattsville, 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 Delaware 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 Prattsville, 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. The median home price in Prattsville is $181,300, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $2,022, while the 75th percentile tax bill reaches $5,716. The highest median tax bill in the area is $3,512, found in the 12468 zip code, which also has the lowest median tax bill at the same amount. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Prattsville Assessed Value
$181,300
Average Delaware County Assessed Value
$129,271
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prattsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12468 | $53,860 | $102,800 | $181,300 | $299,425 | $478,810 |
Source: Ownwell
Property Tax Bills Across Prattsville, New York
In Prattsville, located in Delaware County, NY, property tax bills are calculated based on the assessed value of a property. The local tax assessor determines the assessed value, which is a percentage of the market value. Homeowners in Prattsville can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $2,022, while the 75th percentile tax bill reaches $5,716, and the 90th percentile tax bill is as high as $9,261. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. The median home price in Prattsville is $181,300, which plays a crucial role in determining the overall tax liability. Compared to the national median property tax rate of 0.99%, Prattsville's rates reflect a substantial range, impacting homeowners differently based on their property values. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Prattsville Tax Bill
$3,512
Average Delaware County Tax Bill
$3,106
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Prattsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12468 | $1,064 | $2,022 | $3,512 | $5,716 | $9,261 |
Source: Ownwell