Castleton, New York Property Taxes
The median property tax rate in Castleton, NY is 3.35%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Castleton at $205,696, the typical annual property tax bill reaches $6,895, far surpassing the national median of $2,690. Property taxes in Castleton 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 Castleton'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 Castleton 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
Castleton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.35%
Estimate Property Tax Bill
$6,891
$6,813
Ownwell’s Castleton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Castleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castleton 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 Rensselaer County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Castleton, New York
Property taxes in Castleton, New York, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Castleton is 3.35%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Castleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castleton 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 Castleton's effective property tax rate to other counties in New York and the national median. For comparison, the 12033 zip code has the highest median property tax rate of 3.35%, while the same zip code also has the lowest median tax rate of 3.35%. Understanding how these cities compare with Castleton provides valuable insights into the varying tax landscape across Rensselaer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castleton Tax Rate
3.35%
Average Rensselaer County Tax Rate
2.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castleton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | 3.07% | 3.34% | 3.35% | 3.35% | 3.37% |
Source: Ownwell
Property Tax Assessment Values Across Castleton, New York
In Castleton, 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 Rensselaer County 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 Castleton, 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 Castleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Castleton are both $6,895, found in the 12033 zip code.
Average Castleton Assessed Value
$205,696
Average Rensselaer County Assessed Value
$193,797
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castleton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | $183,924 | $205,696 | $205,696 | $223,165 | $251,013 |
Source: Ownwell
Property Tax Bills Across Castleton, New York
In Castleton, located in Rensselaer County, NY, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by local government assessors who evaluate the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Castleton, the median home price is $205,696, and property tax bills can vary significantly. The tax bill for the 25th percentile is $6,869, while the 75th percentile sees bills around $7,211, and the 90th percentile reaches up to $7,679. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Castleton's property tax bills are relatively high, reflecting the local government's investment in community services. Homeowners must budget for these expenses, as they are a significant part of homeownership costs in the region.
Average Castleton Tax Bill
$6,895
Average Rensselaer County Tax Bill
$5,040
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Castleton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12033 | $6,099 | $6,869 | $6,895 | $7,211 | $7,679 |
Source: Ownwell