Fishkill, New York Property Taxes
The median property tax rate in Fishkill, NY is 2.27%, 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 Fishkill at $616,010, the typical annual property tax bill reaches $13,957, far exceeding the national median of $2,690. Property taxes in Fishkill 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 Fishkill'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 Fishkill 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
Fishkill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$13,983
$13,826
Ownwell’s Fishkill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fishkill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fishkill to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Putnam County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fishkill, New York
Property taxes in Fishkill, 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 Fishkill is 2.27%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fishkill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fishkill 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 Fishkill's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12524 has the highest median property tax rate of 2.27%, while the same zip code also has the lowest median tax rate of 2.27%. Understanding how these cities compare with Fishkill provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fishkill Tax Rate
2.27%
Average Putnam County Tax Rate
3.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fishkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12524 | 2.27% | 2.27% | 2.27% | 2.27% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Fishkill, New York
In Fishkill, 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 local appraisal district 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 Fishkill, 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 Fishkill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fishkill are both $13,957, found in zip code 12524.
Average Fishkill Assessed Value
$616,010
Average Putnam County Assessed Value
$378,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fishkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12524 | $616,010 | $616,010 | $616,010 | $616,010 | $616,010 |
Source: Ownwell
Property Tax Bills Across Fishkill, New York
In Fishkill, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to compute the annual tax bill. For example, with a median home price of $616,010, homeowners in Fishkill can expect their property tax bills to be around $13,957, which is significantly higher than the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's location, its assessed value, and the local tax rate. These high property taxes can impact homeowners by increasing their annual housing costs, making it crucial for them to budget accordingly. Additionally, high property taxes can affect the overall affordability of living in Fishkill, potentially influencing decisions about homeownership and long-term residency in the area.
Average Fishkill Tax Bill
$13,957
Average Putnam County Tax Bill
$11,749
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fishkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12524 | $13,957 | $13,957 | $13,957 | $13,957 | $13,957 |
Source: Ownwell