Petersburgh, New York Property Taxes
The median property tax rate in Petersburgh, NY is 2.26%, 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 Petersburgh, the typical annual property tax bill reaches $1,989, which is below the national median of $2,690. Property taxes in Petersburgh 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 Petersburgh'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 Petersburgh 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
Petersburgh, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$2,332
$2,306
Ownwell’s Petersburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Petersburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Petersburgh 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 Petersburgh, New York
Property taxes in Petersburgh, 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 Petersburgh is 2.26%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Petersburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Petersburgh 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 Petersburgh'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 2.26%, while the same zip code also has the lowest median tax rate of 2.26%. Understanding how these areas compare with Petersburgh 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 Petersburgh Tax Rate
2.26%
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 Petersburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | 1.52% | 2.21% | 2.26% | 2.48% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Petersburgh, New York
In Petersburgh, NY, 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 Petersburgh, 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 Petersburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Petersburgh is $1989 in zip code 12138, which is also the lowest median tax bill, highlighting the uniformity in property tax rates within the region.
Average Petersburgh Assessed Value
$103,188
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 Petersburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | $27,168 | $37,590 | $103,188 | $168,555 | $235,510 |
Source: Ownwell
Property Tax Bills Across Petersburgh, New York
Property tax bills in Petersburgh, Rensselaer County, NY, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value of the home, which can fluctuate based on real estate trends and periodic reassessments. For instance, with a median home price of $103,188, the property tax rate plays a significant role in determining the final bill. Homeowners in Petersburgh experience a range of tax bills. The 25th percentile tax bill is $848, indicating that a quarter of homeowners pay less than this amount. On the higher end, the 75th percentile tax bill is $3,824, and the 90th percentile reaches $4,151. The highest median tax bill in the area is $1,989, located in the zip code 12138. These tax bills impact homeowners by influencing their annual expenses and potentially affecting their decisions regarding homeownership and property investments. Compared to the national median property tax rate of 0.99%, Petersburgh’s property taxes can vary significantly, highlighting the importance of understanding local tax assessments.
Average Petersburgh Tax Bill
$1,989
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 Petersburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12138 | $625 | $848 | $1,989 | $3,824 | $4,151 |
Source: Ownwell