Merrick, New York Property Taxes
The median property tax rate in Merrick, NY is 2.52%, 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 Merrick at $558,000, the typical annual property tax bill reaches $13,824, significantly exceeding the national median of $2,690. Property taxes in Merrick are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Merrick'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 Merrick 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
Merrick, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.52%
Estimate Property Tax Bill
$14,062
$13,903
$1,148
Average Merrick, New York Tax Savings
Ownwell’s Merrick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merrick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merrick 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 Merrick. 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 Merrick, New York
Property taxes in Merrick, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merrick is 2.52%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Merrick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merrick 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 Merrick's effective property tax rate to other areas in Nassau County and the national median. For comparison, the zip code 11566 in Merrick has the highest median property tax rate of 2.52%, while the lowest median tax rate in the same area is also 2.52%. Understanding how these figures compare with Merrick 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 Merrick Tax Rate
2.52%
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 Merrick, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11566 | 2.02% | 2.30% | 2.52% | 2.70% | 2.84% |
Source: Ownwell
$1,148
Average Merrick Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Merrick, New York
In Merrick, 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 Department of Assessment 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 Merrick, 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 Merrick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 11566 has both the highest and lowest median tax bill, standing at $13,824, which is significantly higher than the national median property tax rate of 0.99%.
Average Merrick Assessed Value
$558,000
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 Merrick, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11566 | $446,000 | $489,000 | $558,000 | $646,000 | $758,000 |
Source: Ownwell
$1,148
Average Merrick Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Merrick, New York
In Merrick, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the Nassau County Assessor's office. The assessed value is then multiplied by the local tax rate to determine the final tax bill. For example, with a median home price of $558,000, homeowners can expect a median property tax bill of $13,824. However, tax bills can vary significantly, ranging from $11,654 at the 25th percentile to $19,979 at the 90th percentile. Factors such as property location, market conditions, and improvements to the home can influence the assessed value, and consequently, the tax bill. These high property taxes can place a significant financial burden on homeowners. Ownwell can help homeowners in Merrick save on their property tax bills by providing expert appeal and exemption services. By thoroughly reviewing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell ensures that homeowners pay only their fair share, potentially saving them thousands of dollars annually.
Average Merrick Tax Bill
$13,824
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 Merrick, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11566 | $9,801 | $11,654 | $13,824 | $16,726 | $19,979 |
Source: Ownwell
$1,148
Average Merrick 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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