North Lawrence, New York Property Taxes
The median property tax rate in North Lawrence, NY is 2.64%, 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 North Lawrence, the typical annual property tax bill reaches $1,819, which is below the national median of $2,690. Property taxes in North Lawrence 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 North Lawrence'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 North Lawrence 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
North Lawrence, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$1,820
$1,800
Ownwell’s North Lawrence Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in North Lawrence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Lawrence to provide an estimate of 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 North Lawrence, New York
Property taxes in North Lawrence, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Lawrence is 2.64%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within North Lawrence set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Lawrence 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 North Lawrence's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12967 has both the highest and lowest median property tax rate of 2.64%. Understanding how these areas compare with North Lawrence provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Lawrence Tax Rate
2.64%
Average Franklin County Tax Rate
2.45%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12967 | 2.48% | 2.64% | 2.64% | 2.87% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across North Lawrence, New York
In North Lawrence, 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 Franklin 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 North Lawrence, 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 North Lawrence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 12967 has the highest and lowest median tax bill, both at $1,819.
Property Tax Assessment Values Across North Lawrence, New York
Source: Ownwell
$42,262
$281,378
$520,494
Average North Lawrence Assessed Value
$68,941
Average Franklin County Assessed Value
$100,730
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12967 | $20,330 | $48,118 | $68,941 | $130,941 | $165,882 |
Source: Ownwell
Property Tax Bills Across North Lawrence, New York
In North Lawrence, Franklin County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the local tax assessor. Homeowners in North Lawrence face a median property tax rate of 1.82%, significantly higher than the national median of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. For instance, the median home price in North Lawrence is $68,941, resulting in a median tax bill of approximately $1,819. However, tax bills can vary widely, with the 25th percentile around $1,270 and the 75th percentile reaching $3,456. The top 10% of tax bills can soar to $4,157. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by ensuring community well-being and property value stability. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average North Lawrence Tax Bill
$1,819
Average Franklin County Tax Bill
$2,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across North Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12967 | $583 | $1,270 | $1,819 | $3,456 | $4,157 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Franklin Assessment Review Commission | |
| Website | maps.dancgis.org |