South Hempstead, New York Property Taxes
The median property tax rate in South Hempstead, 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 South Hempstead at $445,000, the typical annual property tax bill reaches $10,593, exceeding the national median of $2,690. Property taxes in South Hempstead 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 South Hempstead'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 South Hempstead 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
South Hempstead, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$10,547
$10,428
$1,148
Average South Hempstead, New York Tax Savings
Ownwell’s South Hempstead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Hempstead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Hempstead 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 South Hempstead. 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 South Hempstead, New York
Property taxes in South Hempstead, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Hempstead is 2.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Hempstead set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Hempstead 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 South Hempstead's effective property tax rate to other areas in Nassau County and the national median. For comparison, the 11550 zip code has both the highest and lowest median property tax rate of 2.37%. Understanding how these areas compare with South Hempstead 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 South Hempstead 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 South Hempstead, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11550 | 1.71% | 2.00% | 2.37% | 2.67% | 2.84% |
Source: Ownwell
$1,148
Average South Hempstead Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across South Hempstead, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in South Hempstead, 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 Assessment Office 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. The median home price in South Hempstead is $445,000, with tax bills ranging significantly. For example, the 25th percentile tax bill is $8,144, while the 75th percentile tax bill is $12,416. The highest and lowest median tax bills are both $10,593 in zip code 11550. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across South Hempstead, New York
Source: Ownwell
$37,000
$1,990,750
$3,944,500
Average South Hempstead Assessed Value
$445,000
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 South Hempstead, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11550 | $370,400 | $400,000 | $445,000 | $496,000 | $537,800 |
Source: Ownwell
$1,148
Average South Hempstead Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across South Hempstead, New York
In South Hempstead, Nassau County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local authorities. The median home price in South Hempstead is $445,000, leading to significant tax bills. For instance, the 25th percentile tax bill is $8,144, while the 75th percentile reaches $12,416, and the 90th percentile peaks at $14,210. These figures are well above the national median property tax rate of 0.99%, underscoring the financial burden on homeowners. Ownwell can help homeowners in South Hempstead reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing market data and presenting compelling evidence, Ownwell can challenge over-assessments and secure potential savings. This professional assistance can result in substantial reductions, ensuring homeowners are not overpaying on their property taxes.
Average South Hempstead Tax Bill
$10,593
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 South Hempstead, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11550 | $6,598 | $8,144 | $10,593 | $12,416 | $14,210 |
Source: Ownwell
$1,148
Average South Hempstead 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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