Palisades, New York Property Taxes
The median property tax rate in Palisades, NY is 1.08%, higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $644,877 in Palisades, the typical annual property tax bill reaches $8,872, significantly exceeding the national median of $2,690. Property taxes in Palisades are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Palisades' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Palisades or another part of Rockland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palisades, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$6,965
-$72,990
Ownwell’s Palisades Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palisades with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palisades 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 Palisades, New York
Property taxes in Palisades, NY, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Palisades is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Palisades set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palisades 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 Palisades' effective property tax rate to other counties and the national median. For comparison, the 10964 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Palisades provides valuable insights into the varying tax landscape across Rockland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palisades Tax Rate
1.08%
Average Rockland County Tax Rate
9.36%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palisades, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10964 | 1.01% | 1.05% | 1.08% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Palisades, New York
In Palisades, 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 Rockland 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 Palisades, 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 instance, the median home price in Palisades is $644,877, with tax bills ranging from $6,087 at the 25th percentile to $23,047 at the 90th percentile. By understanding 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 Palisades helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Palisades, New York
Source: Ownwell
$102,000
$4,272,452
$8,442,903
Average Palisades Assessed Value
$644,877
Average Rockland County Assessed Value
$130,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palisades, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10964 | $458,644 | $517,742 | $644,877 | $1,039,754 | $1,706,937 |
Source: Ownwell
Property Tax Bills Across Palisades, New York
In Palisades, Rockland County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Palisades is $644,877, and homeowners can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $6,087, while at the 75th percentile, it rises to $15,269. At the 90th percentile, it reaches $23,047. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. The highest median tax bill in the area is $8,872, which is significantly higher than the national median property tax rate of 0.99%. Such high tax rates can impact homeowners by increasing the cost of ownership, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Palisades Tax Bill
$8,872
Average Rockland County Tax Bill
$10,993
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Palisades, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10964 | $5,344 | $6,087 | $8,872 | $15,269 | $23,047 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Rockland Assessment Review Commission | |
| Website | app.regrid.com |