Ballston Spa, New York Property Taxes
The median property tax rate in Ballston Spa, NY is 1.76%, 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 Ballston Spa at $274,510, the typical annual property tax bill reaches $4,457, exceeding the national median of $2,690. Property taxes in Ballston Spa 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 Ballston Spa'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 Ballston Spa 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
Ballston Spa, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$4,831
$4,777
Ownwell’s Ballston Spa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ballston Spa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ballston Spa 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 Ballston Spa, New York
Property taxes in Ballston Spa, 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 Ballston Spa is 1.76%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ballston Spa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ballston Spa 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 Ballston Spa's effective property tax rate to other areas in Saratoga County and the national median. For comparison, the 12020 zip code has the highest median property tax rate of 1.76%, while it also has the lowest median tax rate of 1.76%. Understanding how these areas compare with Ballston Spa provides valuable insights into the varying tax landscape across Saratoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ballston Spa Tax Rate
1.76%
Average Saratoga County Tax Rate
1.62%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ballston Spa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | 0.49% | 1.45% | 1.76% | 1.93% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Ballston Spa, New York
In Ballston Spa, 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 Saratoga 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 Ballston Spa, 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 Ballston Spa 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 12020, with a median tax bill of $4,457.
Average Ballston Spa Assessed Value
$274,510
Average Saratoga County Assessed Value
$282,609
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ballston Spa, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | $169,935 | $208,000 | $274,510 | $354,587 | $452,230 |
Source: Ownwell
Property Tax Bills Across Ballston Spa, New York
In Ballston Spa, Saratoga County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Ballston Spa is $274,510. Homeowners in this area can expect tax bills to vary significantly. At the 25th percentile, tax bills are around $3,141, while those at the 75th percentile can reach $6,027. The 90th percentile sees tax bills as high as $7,954. The highest median tax bill in the region is $4,457, which is considerably higher than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners should be aware of these factors when budgeting for property expenses.
Average Ballston Spa Tax Bill
$4,457
Average Saratoga County Tax Bill
$4,340
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Ballston Spa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | $1,404 | $3,141 | $4,457 | $6,027 | $7,954 |
Source: Ownwell