Esperance, New York Property Taxes
The median property tax rate in Esperance, NY is 2.82%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $137,975, the typical annual property tax bill in Esperance reaches $3,610, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Esperance'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 Esperance or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Esperance, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$3,891
$3,847
Ownwell’s Esperance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Esperance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Esperance 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 Esperance, New York
Property taxes in Esperance, 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 Esperance is 2.82%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Esperance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Esperance 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 Esperance's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 12066 has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these figures compare with Esperance provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Esperance Tax Rate
2.82%
Average Montgomery County Tax Rate
2.37%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Esperance, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12066 | 2.03% | 2.47% | 2.82% | 2.88% | 3.01% |
Source: Ownwell
Property Tax Assessment Values Across Esperance, New York
In Esperance, 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 Montgomery 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 Esperance, 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 Esperance helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $137,975, with tax bills ranging from $2,059 at the 25th percentile to $7,004 at the 90th percentile. Notably, the highest and lowest median tax bill, both at $3,610, are found in zip code 12066.
Average Esperance Assessed Value
$137,975
Average Montgomery County Assessed Value
$107,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Esperance, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12066 | $44,102 | $84,145 | $137,975 | $197,658 | $256,709 |
Source: Ownwell
Property Tax Bills Across Esperance, New York
In Esperance, located in Montgomery County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and is intended to reflect the market value of the property. Homeowners in Esperance experience a range of property tax bills, with the 25th percentile at $2,059 and the 75th percentile at $5,311, indicating variability depending on property values and specific circumstances. The highest median tax bill in the area is $3,610, which is significantly higher than the national median property tax rate of 0.99%. This higher rate can be attributed to local funding needs for public services such as schools, infrastructure, and emergency services. For homeowners, this means that owning property in Esperance can come with a substantial tax obligation, impacting their overall financial planning. Understanding these factors helps homeowners anticipate their tax liabilities and plan accordingly.
Average Esperance Tax Bill
$3,610
Average Montgomery County Tax Bill
$2,451
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Esperance, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12066 | $1,064 | $2,059 | $3,610 | $5,311 | $7,004 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Montgomery Assessment Review Commission | |
| Website | www.co.montgomery.ny.us |