Leeds, New York Property Taxes
The median property tax rate in Leeds, NY is 2.05%, 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 Leeds at $203,940, the typical annual property tax bill reaches $4,045, exceeding the national median of $2,690. Property taxes in Leeds 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 Leeds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Leeds 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
Leeds, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$4,181
$4,134
Ownwell’s Leeds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leeds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leeds 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 Leeds, New York
Property taxes in Leeds, 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 Leeds is 2.05%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Leeds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeds 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 Leeds' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12451 has the highest median property tax rate of 2.05%, while the same zip code also has the lowest median tax rate of 2.05%. Understanding how these cities compare with Leeds provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leeds Tax Rate
2.05%
Average Greene County Tax Rate
2.04%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeds, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12451 | 1.72% | 2.01% | 2.05% | 2.05% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Leeds, New York
In Leeds, 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 Greene 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 Leeds, 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. The median home price in Leeds is $203,940, with annual property tax bills ranging from $3,204 at the 25th percentile to $6,976 at the 90th percentile. The highest and lowest median tax bills are both $4,045 in zip code 12451. Being aware of these valuation processes in Leeds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leeds Assessed Value
$203,940
Average Greene County Assessed Value
$210,370
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leeds, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12451 | $125,370 | $160,498 | $203,940 | $271,660 | $353,285 |
Source: Ownwell
Property Tax Bills Across Leeds, New York
In Leeds, Greene County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Leeds see tax bills that vary significantly, reflecting a range of property values and tax rates. For instance, the tax bill at the 25th percentile is $3,204, while at the 75th percentile, it rises to $5,413, and at the 90th percentile, it reaches $6,976. The median home price in Leeds is $203,940, and with a national median property tax rate of 0.99%, homeowners in Leeds often find their tax rates to be relatively high in comparison. This can significantly impact homeowners, influencing both their monthly budgets and overall financial planning. The highest and lowest median tax bills in the area are both $4,045, highlighting that even within the same zip code, tax burdens can vary. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Leeds Tax Bill
$4,045
Average Greene County Tax Bill
$4,183
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeds, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12451 | $2,391 | $3,204 | $4,045 | $5,413 | $6,976 |
Source: Ownwell