Westport, New York Property Taxes
The median property tax rate in Westport, NY is 2.14%, 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 Westport at $166,000, the typical annual property tax bill reaches $3,468, exceeding the national median of $2,690. Property taxes in Westport 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 Westport'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 Westport 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
Westport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$3,552
$3,512
Ownwell’s Westport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westport 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 Westport, New York
Property taxes in Westport, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westport is 2.14%, significantly higher than the U.S. national median of 0.99%. Local government entities within Westport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westport 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 Westport's effective property tax rate to other areas in New York and the national median. For comparison, the 12993 zip code, which encompasses Westport, has a uniform median property tax rate of 2.14%. Understanding how these cities compare with Westport provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westport Tax Rate
2.14%
Average Essex County Tax Rate
1.92%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12993 | 1.96% | 2.12% | 2.14% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Westport, New York
In Westport, 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 Essex County 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 Westport, 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 Westport is $166,000, with tax bills ranging significantly across different percentiles. For instance, the 25th percentile tax bill is $2,063, while the 75th percentile reaches $5,751. Understanding these valuation concepts helps property owners better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12993 has both the highest and lowest median tax bill at $3,468.
Average Westport Assessed Value
$166,000
Average Essex County Assessed Value
$151,489
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12993 | $61,040 | $103,000 | $166,000 | $271,900 | $440,600 |
Source: Ownwell
Property Tax Bills Across Westport, New York
In Westport, Essex County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $166,000, homeowners can expect their tax bills to vary significantly depending on their property's assessed value and applicable exemptions. Factors such as property size, location, and market conditions are considered when determining the assessed value. In Westport, the tax bill at the 25th percentile is $2,063, while it rises to $5,751 at the 75th percentile and can reach as high as $9,456 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, making Westport's property taxes relatively higher. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life.
Average Westport Tax Bill
$3,468
Average Essex County Tax Bill
$2,966
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Westport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12993 | $1,190 | $2,063 | $3,468 | $5,751 | $9,456 |
Source: Ownwell