Stony Point, New York Property Taxes
The median property tax rate in Stony Point, NY is 1.08%, which is higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $368,601, the typical annual property tax bill in Stony Point reaches $3,978, significantly exceeding the national median of $2,690. Property taxes in Stony Point are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Stony Point's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stony Point or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stony Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,981
-$41,720
Ownwell’s Stony Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stony Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stony Point 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 Stony Point, New York
Property taxes in Stony Point, New York, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stony Point is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Stony Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stony Point 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 Stony Point's effective property tax rate to other counties in New York and the national median. For comparison, the 10980 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 areas compare with Stony Point 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 Stony Point 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 Stony Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10980 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Stony Point, New York
In Stony Point, 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 Stony Point, 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 Stony Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 10980, with a median tax bill of $3,978.
Property Tax Assessment Values Across Stony Point, New York
Source: Ownwell
$102,000
$4,272,452
$8,442,903
Average Stony Point Assessed Value
$368,601
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 Stony Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10980 | $262,372 | $313,140 | $368,601 | $465,870 | $612,970 |
Source: Ownwell
Property Tax Bills Across Stony Point, New York
In Stony Point, 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 property tax bill. Homeowners in Stony Point face varying tax bills depending on several factors, including the market value of their property and the specific tax rate applied in their area. The median home price in Stony Point is $368,601, and tax bills can range significantly. For instance, the 25th percentile tax bill is around $3,400, while the 75th percentile tax bill is approximately $5,053. At the higher end, the 90th percentile tax bill reaches $6,615. The highest and lowest median tax bills in the area are both $3,978, specifically in the 10980 zip code. These property taxes can have a substantial impact on homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Stony Point's rates reflect the unique economic conditions of the region.
Average Stony Point Tax Bill
$3,978
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 Stony Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10980 | $2,831 | $3,400 | $3,978 | $5,053 | $6,615 |
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 |