Petersburg, New York Property Taxes
The median property tax rate in Petersburg, 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 Petersburg, the typical annual property tax bill reaches $3,375, exceeding the national median of $2,690. Property taxes in Petersburg 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 Petersburg'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 Petersburg 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
Petersburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$3,443
$3,404
Ownwell’s Petersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Petersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Petersburg 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 Petersburg, New York
Property taxes in Petersburg, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Petersburg is 2.27%, significantly higher than the U.S. national median of 0.99%. Local government entities within Petersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Petersburg 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 Petersburg's effective property tax rate to other counties in New York and the national median. For comparison, the 12138 zip code 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 Petersburg 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 Petersburg Tax Rate
2.27%
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 Petersburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | 1.71% | 2.09% | 2.27% | 2.55% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Petersburg, New York
In Petersburg, 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 Petersburg, 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. For example, the median home price in Petersburg is $151,674, with tax bills ranging from $1,970 at the 25th percentile to $6,517 at the 90th percentile. The zip code 12138 has both the highest and lowest median tax bill at $3,375. 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 Petersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Petersburg Assessed Value
$151,674
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 Petersburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | $54,348 | $94,909 | $151,674 | $216,335 | $283,133 |
Source: Ownwell
Property Tax Bills Across Petersburg, New York
In Petersburg, located in Rensselaer County, NY, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Petersburg is $151,674. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, homeowners in the 25th percentile pay around $1,970 annually, while those in the 75th percentile face bills of approximately $4,858. For those in the 90th percentile, the tax bill can reach up to $6,517. Comparatively, the national median property tax rate is 0.99%, making Petersburg's rates relatively high. This can significantly affect homeowners, as higher property taxes can impact monthly mortgage payments and overall affordability. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual financial obligations.
Average Petersburg Tax Bill
$3,375
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 Petersburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | $1,053 | $1,970 | $3,375 | $4,858 | $6,517 |
Source: Ownwell