Jericho, New York Property Taxes
The median property tax rate in Jericho, NY is 2.37%, 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 Jericho at $845,000, the typical annual property tax bill reaches $19,844, far exceeding the national median of $2,690. Property taxes in Jericho 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 Jericho'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 Jericho 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
Jericho, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$20,027
$19,801
$1,148
Average Jericho, New York Tax Savings
Ownwell’s Jericho Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jericho with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jericho 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 Jericho. 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 Jericho, New York
Property taxes in Jericho, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jericho is 2.37%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Jericho set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jericho 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 Jericho's effective property tax rate to other areas in New York and the national median. For comparison, the ZIP code 11753 has the highest and lowest median property tax rate of 2.37%. Understanding how these cities compare with Jericho 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 Jericho Tax Rate
2.37%
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 Jericho, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11753 | 2.06% | 2.23% | 2.37% | 2.53% | 2.66% |
Source: Ownwell
$1,148
Average Jericho Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Jericho, New York
In Jericho, 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 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. In Jericho, 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 Jericho helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jericho are both $19,844 in the 11753 zip code, significantly higher than the national median property tax rate of 0.99%.
Average Jericho Assessed Value
$845,000
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 Jericho, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11753 | $682,700 | $745,000 | $845,000 | $945,000 | $1,148,300 |
Source: Ownwell
$1,148
Average Jericho Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Jericho, New York
In Jericho, Nassau County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. With a median home price of $845,000, the property tax rates in Jericho are significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile see tax bills around $17,550, while those in the 75th percentile face bills up to $22,570. The 90th percentile experiences even steeper bills at $26,873. Several factors influence these tax bills, including property size, location, and any applicable exemptions. High property taxes can place a substantial financial burden on homeowners. Ownwell can assist by reviewing your property’s assessed value and identifying potential discrepancies. Our experts can file appeals on your behalf, potentially lowering your tax bill and saving you money. By leveraging local knowledge and expertise, Ownwell ensures you pay only what’s fair, helping alleviate the financial strain of high property taxes in Jericho.
Average Jericho Tax Bill
$19,844
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 Jericho, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11753 | $15,238 | $17,550 | $19,844 | $22,570 | $26,873 |
Source: Ownwell
$1,148
Average Jericho 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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