Massapequa Park, New York Property Taxes
The median property tax rate in Massapequa Park, NY is 2.34%, 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 Massapequa Park, the typical annual property tax bill reaches $11,683, exceeding the national median of $2,690. Property taxes in Massapequa Park 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 Massapequa Park'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 Massapequa Park 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
Massapequa Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.34%
Estimate Property Tax Bill
$11,560
$11,429
$1,148
Average Massapequa Park, New York Tax Savings
Ownwell’s Massapequa Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Massapequa Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Massapequa Park 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 Massapequa Park. 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 Massapequa Park, New York
Property taxes in Massapequa Park, 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 Massapequa Park is 2.34%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Massapequa Park set these rates annually, and they can vary across different neighborhoods. Each year, Massapequa Park 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 Massapequa Park's effective property tax rate to other areas in Nassau County and the national median. For comparison, the 11762 zip code has the highest median property tax rate of 2.34%, while the same zip code also has the lowest median tax rate of 2.34%. Understanding how these areas compare with Massapequa Park 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 Massapequa Park Tax Rate
2.34%
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 Massapequa Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11762 | 1.86% | 2.14% | 2.34% | 2.53% | 2.71% |
Source: Ownwell
$1,148
Average Massapequa Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Massapequa Park, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Massapequa Park, 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 Nassau County 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 Massapequa Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Massapequa Park, the median home price is $494,000, with the highest median tax bill in zip code 11762 being $11,683.
Property Tax Assessment Values Across Massapequa Park, New York
Source: Ownwell
$37,000
$1,990,750
$3,944,500
Average Massapequa Park Assessed Value
$494,000
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 Massapequa Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11762 | $429,000 | $458,000 | $494,000 | $547,000 | $643,300 |
Source: Ownwell
$1,148
Average Massapequa Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Massapequa Park, New York
In Massapequa Park, located in Nassau County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate. For instance, the median home price in Massapequa Park is $494,000, leading to significant property tax bills. The tax bill can vary widely, with the 25th percentile at $10,254 and the 75th percentile at $13,316, while the 90th percentile reaches up to $15,642. These figures are notably higher than the national median property tax rate of 0.99%. Homeowners in Massapequa Park often face high property tax bills due to the area's high property values. Ownwell can assist homeowners in reducing these burdensome taxes by providing expert property tax appeal and exemption services. By leveraging our local knowledge and expertise, we identify potential discrepancies in assessed values and ensure homeowners are not overpaying. This can result in substantial savings, making homeownership more affordable and sustainable.
Average Massapequa Park Tax Bill
$11,683
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 Massapequa Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11762 | $8,754 | $10,254 | $11,683 | $13,316 | $15,642 |
Source: Ownwell
$1,148
Average Massapequa Park 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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