Willow, New York Property Taxes
The median property tax rate in Willow, NY is 1.49%, 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 Willow, the typical annual property tax bill reaches $4,781, exceeding the national median of $2,690. Property taxes in Willow 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 Willow'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 Willow 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
Willow, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$4,790
$4,736
Ownwell’s Willow Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Willow with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Willow to provide an estimate of your property tax bill. This valuable tool offers insight into your potential tax liabilities, helping you plan your finances more effectively. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by Greene County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Willow, New York
Property taxes in Willow, 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 Willow is 1.49%, which is higher than the U.S. national median of 0.99%. Local government entities within Willow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow 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 Willow's effective property tax rate to other counties in New York and the national median. For comparison, the 12495 zip code has the highest median property tax rate of 1.49%, while the same zip code has the lowest median tax rate of 1.49%. Understanding how these areas compare with Willow 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 Willow Tax Rate
1.49%
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Willow, New York
In Willow, 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 Willow, 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 Willow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Willow are both $4781, corresponding to the zip code 12495.
Average Willow Assessed Value
$321,477
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | $321,477 | $321,477 | $321,477 | $321,477 | $321,477 |
Source: Ownwell
Property Tax Bills Across Willow, New York
In Willow, located in Greene County, NY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property’s market value and apply an assessment ratio to it. This ratio helps to ensure that the assessed value reflects a percentage of the market value, which is then used to calculate the tax bill. The median home price in Willow is $321,477, which plays a significant role in determining the overall tax bill. Homeowners in Willow can expect a median property tax bill of $4,781, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity indicates a stable tax environment within the city. Compared to the national median property tax rate of 0.99%, the tax rate in Willow results in a relatively higher tax bill, impacting homeowners by increasing their annual financial obligations. Understanding these factors can help homeowners better anticipate their property tax responsibilities and manage their budgets accordingly.
Average Willow Tax Bill
$4,781
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 Willow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12495 | $4,781 | $4,781 | $4,781 | $4,781 | $4,781 |
Source: Ownwell