Beacon, New York Property Taxes
The median property tax rate in Beacon, NY is 3.18%, 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 Beacon at $349,400, the typical annual property tax bill reaches $10,640, far exceeding the national median of $2,690. Property taxes in Beacon 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 Beacon'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 Beacon 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
Beacon, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.18%
Estimate Property Tax Bill
$11,111
$10,986
Ownwell’s Beacon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beacon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beacon 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 Beacon, New York
Property taxes in Beacon, 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 Beacon is 3.18%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Beacon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beacon 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 Beacon's effective property tax rate to other counties in New York and the national median. For comparison, the 12508 zip code has the highest median property tax rate of 3.18%, while the lowest median tax rate is also 3.18% in the same zip code. Understanding how these cities compare with Beacon provides valuable insights into the varying tax landscape across Dutchess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beacon Tax Rate
3.18%
Average Dutchess County Tax Rate
2.86%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beacon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12508 | 2.57% | 3.07% | 3.18% | 3.18% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Beacon, New York
In Beacon, 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 Dutchess 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 Beacon, 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. Beacon's median home price stands at $349,400, with the highest median tax bill recorded at $10,640 in the 12508 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beacon Assessed Value
$349,400
Average Dutchess County Assessed Value
$321,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beacon, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12508 | $251,100 | $294,500 | $349,400 | $410,300 | $501,980 |
Source: Ownwell
Property Tax Bills Across Beacon, New York
In Beacon, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate various factors, including the property's market value, location, and improvements. Homeowners in Beacon can expect their tax bills to reflect these assessments, which are then multiplied by the local tax rate to determine the final amount owed. For example, with a median home price of $349,400, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $8,719, while those at the 75th percentile could see bills as high as $12,570. For the top 10% of properties, tax bills can reach up to $15,653. This range indicates a substantial impact on homeowners, depending on their property's assessed value. Comparatively, Beacon's property tax rates can be higher than the national median property tax rate of 0.99%, reflecting the city's specific economic and real estate conditions. This variation underscores the importance of understanding local tax assessments and their implications for homeowners.
Average Beacon Tax Bill
$10,640
Average Dutchess County Tax Bill
$9,388
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Beacon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12508 | $6,482 | $8,719 | $10,640 | $12,570 | $15,653 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Dutchess Assessment Review Commission | |
| Website | gis.dutchessny.gov |