Leonardsville, New York Property Taxes
The median property tax rate in Leonardsville, NY is 3.08%, 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 Leonardsville at $87,284, the typical annual property tax bill reaches $2,584, just below the national median of $2,690. Property taxes in Leonardsville 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 Leonardsville'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 Leonardsville or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leonardsville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.08%
Estimate Property Tax Bill
$2,688
$2,658
Ownwell’s Leonardsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonardsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonardsville 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 Leonardsville, New York
Property taxes in Leonardsville, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonardsville is 3.08%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Leonardsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonardsville 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 Leonardsville's effective property tax rate to other counties in New York and the national median. For comparison, the 13364 zip code has the highest median property tax rate of 3.08%, while the same zip code also has the lowest median tax rate of 3.08%. Understanding how these cities compare with Leonardsville provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leonardsville Tax Rate
3.08%
Average Madison County Tax Rate
3.06%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leonardsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13364 | 2.71% | 3.00% | 3.08% | 3.08% | 3.08% |
Source: Ownwell
Property Tax Assessment Values Across Leonardsville, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leonardsville, NY. 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 Madison 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 Leonardsville, 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 Leonardsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Leonardsville, the zip code with the highest median tax bill is 13364, with a tax bill of $2,584. Conversely, the zip code with the lowest median tax bill is also 13364, with the same tax bill of $2,584.
Average Leonardsville Assessed Value
$87,284
Average Madison County Assessed Value
$136,471
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leonardsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13364 | $27,605 | $58,734 | $87,284 | $113,768 | $167,333 |
Source: Ownwell
Property Tax Bills Across Leonardsville, New York
In Leonardsville, 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 home. For example, the median home price in Leonardsville is $87,284. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. In Leonardsville, the tax bill ranges significantly, with the 25th percentile at $1,696 and the 75th percentile at $3,338. The 90th percentile tax bill reaches up to $4,661. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Homeowners in Leonardsville may find their tax bills higher than the national median property tax rate of 0.99%, impacting their overall cost of homeownership and budget planning.
Average Leonardsville Tax Bill
$2,584
Average Madison County Tax Bill
$4,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Leonardsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13364 | $776 | $1,696 | $2,584 | $3,338 | $4,661 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Madison Assessment Review Commission | |
| Website | property.madisoncounty.ny.gov |