Hammond, New York Property Taxes
The median property tax rate in Hammond, 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 Hammond at $88,554, the typical annual property tax bill reaches $1,814, exceeding the national median of $2,690. Property taxes in Hammond 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 Hammond'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 Hammond 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
Hammond, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$1,815
$1,795
Ownwell’s Hammond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hammond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hammond 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 Hammond, New York
Property taxes in Hammond, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hammond 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 Hammond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hammond 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 Hammond's effective property tax rate to other counties in New York and the national median. For comparison, the 13646 zip code 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 Hammond provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hammond Tax Rate
2.05%
Average Jefferson County Tax Rate
1.81%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hammond, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13646 | 1.97% | 2.05% | 2.05% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Hammond, New York
In Hammond, 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 Jefferson 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 Hammond, 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 Hammond 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 Hammond are both $1,814, found in the 13646 zip code.
Average Hammond Assessed Value
$88,554
Average Jefferson County Assessed Value
$134,468
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hammond, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13646 | $39,217 | $64,066 | $88,554 | $188,825 | $208,903 |
Source: Ownwell
Property Tax Bills Across Hammond, New York
In Hammond, Jefferson County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Hammond is $88,554. Once a property's assessed value is determined, it is multiplied by the local tax rate to calculate the tax bill. The median property tax rate in the area is higher than the national median of 0.99%, leading to significant tax bills for homeowners. Factors considered in determining a property's assessed value include its market value, location, and condition. Homeowners in Hammond can expect tax bills to vary widely. For example, the 25th percentile tax bill is $1,262, while the 75th percentile tax bill is $3,798, and the 90th percentile tax bill reaches up to $4,226. The highest median tax bill in the region is $1,814, recorded in the 13646 zip code. These tax bills can significantly impact homeowners, influencing their monthly expenses and overall financial planning.
Average Hammond Tax Bill
$1,814
Average Jefferson County Tax Bill
$2,407
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Hammond, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13646 | $803 | $1,262 | $1,814 | $3,798 | $4,226 |
Source: Ownwell