Kent Lakes, New York Property Taxes
The median property tax rate in Kent Lakes, NY is 2.92%, 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 Kent Lakes at $264,755, the typical annual property tax bill reaches $7,569, significantly exceeding the national median of $2,690. Property taxes in Kent Lakes 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 Kent Lakes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Kent Lakes 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
Kent Lakes, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.92%
Estimate Property Tax Bill
$7,731
$7,644
Ownwell’s Kent Lakes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kent Lakes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kent Lakes 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kent Lakes, New York
Property taxes in Kent Lakes, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kent Lakes is 2.92%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kent Lakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kent Lakes 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 Kent Lakes' effective property tax rate to other counties in New York and the national median. For comparison, the 10512 zip code has the highest median property tax rate of 2.92%, while the same zip code also has the lowest median tax rate of 2.92%. Understanding how these areas compare with Kent Lakes 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 Kent Lakes Tax Rate
2.92%
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 Kent Lakes, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10512 | 2.65% | 2.75% | 2.92% | 3.08% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Kent Lakes, New York
In Kent Lakes, 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 Kent Lakes, 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 Kent Lakes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $7,569, found in the 10512 zip code.
Average Kent Lakes Assessed Value
$264,755
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 Kent Lakes, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10512 | $255,101 | $258,722 | $264,755 | $293,408 | $310,599 |
Source: Ownwell
Property Tax Bills Across Kent Lakes, New York
In Kent Lakes, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor and reflects the estimated market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Kent Lakes can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $7,054, while the 75th percentile tax bill reaches $8,085, and the 90th percentile tax bill is $8,395. These figures highlight the range of property tax obligations within the community. Compared to the national median property tax rate of 0.99%, Kent Lakes homeowners face higher tax bills, largely influenced by the local market conditions and assessed values. This can impact homeowners by increasing their annual expenses, making it essential for them to understand their property assessments and potential exemptions to manage their tax liabilities effectively.
Average Kent Lakes Tax Bill
$7,569
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 Kent Lakes, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10512 | $6,744 | $7,054 | $7,569 | $8,085 | $8,395 |
Source: Ownwell