Copenhagen, New York Property Taxes
The median property tax rate in Copenhagen, NY is 2.24%, 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 Copenhagen at $107,300, the typical annual property tax bill reaches $2,501, slightly below the national median of $2,690. Property taxes in Copenhagen are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Copenhagen'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 Copenhagen 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
Copenhagen, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$2,404
$2,376
Ownwell’s Copenhagen Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Copenhagen. By simply inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Copenhagen to provide an accurate estimate of your property tax bill. This tool is designed to give you a clear understanding of your potential tax liabilities. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by the county and takes into account any applicable exemptions, ensuring a precise calculation for your tax obligations.
Property Tax Rates Across Copenhagen, New York
Property taxes in Copenhagen, 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 Copenhagen is 2.24%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Copenhagen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copenhagen 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 Copenhagen's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13626 has the highest median property tax rate of 2.24%, while the same zip code also has the lowest median tax rate of 2.24%. Understanding how these cities compare with Copenhagen provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copenhagen Tax Rate
2.24%
Average Lewis County Tax Rate
2.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | 1.88% | 2.09% | 2.24% | 2.49% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Copenhagen, New York
In Copenhagen, 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 Lewis 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 Copenhagen, 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 Copenhagen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 13626, with a tax bill of $2,501, while the lowest median tax bill is also found in the same zip code at $2,501.
Average Copenhagen Assessed Value
$107,300
Average Lewis County Assessed Value
$102,300
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | $38,570 | $62,400 | $107,300 | $155,050 | $221,990 |
Source: Ownwell
Property Tax Bills Across Copenhagen, New York
In Copenhagen, Lewis County, NY, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the tax rate set by the local taxing authorities to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Copenhagen, the median home price is $107,300. Property tax bills can vary significantly, with the 25th percentile paying around $1,370 annually, while those in the 75th percentile face bills of approximately $3,638. The top 10% of taxpayers may see tax bills as high as $4,904. For homeowners, these taxes fund essential services such as schools, emergency services, and infrastructure. Understanding how these elements interact can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Copenhagen Tax Bill
$2,501
Average Lewis County Tax Bill
$2,429
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | $839 | $1,370 | $2,501 | $3,638 | $4,904 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Lewis Assessment Review Commission | |
| Website | lewiscountyny.gov |