Elmont, New York Property Taxes
The median property tax rate in Elmont, NY is 2.26%, 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 Elmont at $463,000, the typical annual property tax bill reaches $10,416, far exceeding the national median of $2,690. Property taxes in Elmont 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 Elmont'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 Elmont 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
Elmont, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$10,464
$10,346
$1,148
Average Elmont, New York Tax Savings
Ownwell’s Elmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elmont to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Elmont. 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 Elmont, New York
Property taxes in Elmont, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmont is 2.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elmont 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 Elmont's effective property tax rate to other areas in Nassau County and the national median. For comparison, the zip code 11003 in Elmont has the highest median property tax rate of 2.26%, while the same zip code also has the lowest median tax rate of 2.26%. Understanding how these areas compare with Elmont provides valuable insights into the varying tax landscape across Nassau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmont Tax Rate
2.26%
Average Nassau County Tax Rate
2.10%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmont, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11003 | 1.83% | 2.07% | 2.26% | 2.42% | 2.55% |
Source: Ownwell
$1,148
Average Elmont Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Elmont, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elmont, 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 Nassau County Assessor 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. 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 Elmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Elmont, the highest and lowest median tax bills are both $10,416, applicable to zip code 11003.
Average Elmont Assessed Value
$463,000
Average Nassau County Assessed Value
$537,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elmont, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11003 | $390,000 | $427,000 | $463,000 | $508,000 | $567,000 |
Source: Ownwell
$1,148
Average Elmont Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Elmont, New York
In Elmont, located in Nassau County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. With the median home price at $463,000, homeowners face significant tax bills, often surpassing the national median property tax rate of 0.99%. For instance, the 25th percentile tax bill stands at $9,113, while the 75th percentile reaches $11,687, and the 90th percentile soars to $13,091. The highest median tax bill in the area is $10,416, found in the 11003 zip code. These high tax rates can place a substantial financial burden on homeowners. However, Ownwell offers a solution by providing expert property tax appeal and exemption services. By meticulously analyzing property assessments and identifying discrepancies, Ownwell helps homeowners reduce their tax bills. This personalized approach ensures that you pay only your fair share, potentially saving thousands of dollars annually. Let Ownwell's expertise ease your property tax concerns and keep more money in your pocket.
Average Elmont Tax Bill
$10,416
Average Nassau County Tax Bill
$11,613
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmont, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11003 | $7,704 | $9,113 | $10,416 | $11,687 | $13,091 |
Source: Ownwell
$1,148
Average Elmont Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates | |
|---|---|
| Appeal Deadline | March 18 |
Links | |
|---|---|
| Nassau Assessment Review Commission | |
| Website | lrv.nassaucountyny.gov |
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