Waterford, New York Property Taxes
The median property tax rate in Waterford, NY is 0.99%, aligning with the national median but significantly lower than the New York state median of 2.39%. With the median home value in Waterford at $244,048, the typical annual property tax bill amounts to $2,592, which is slightly below the national median of $2,690. Property taxes in Waterford are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Waterford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Waterford or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterford, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,416
$2,389
Ownwell’s Waterford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterford 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 Waterford, New York
Property taxes in Waterford, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterford is 2.17%, higher than both the New York state median of 1.62% and the U.S. national median of 0.99%. Local government entities within Waterford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterford 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 Waterford's effective property tax rate to other counties in New York and the national median. For comparison, the 12188 zip code has the highest median property tax rate of 2.17%, while the 12188 zip code has the lowest median tax rate of 2.17%. Understanding how these cities compare with Waterford 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 Waterford Tax Rate
0.99%
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 Waterford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12188 | 0.67% | 0.72% | 0.99% | 1.96% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Waterford, New York
In Waterford, 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 Waterford, 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 Waterford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12188 has both the highest and lowest median tax bill at $2,592, reflecting a significant range in property values and tax responsibilities.
Average Waterford Assessed Value
$244,048
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 Waterford, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12188 | $158,389 | $195,842 | $244,048 | $310,842 | $409,519 |
Source: Ownwell
Property Tax Bills Across Waterford, New York
Property tax bills in Waterford, located in Saratoga County, NY, are calculated based on the assessed value of a property and the local tax rate. The median home price in Waterford is approximately $244,048. Homeowners can expect a range of tax bills, with the 25th percentile around $1,500 and the 75th percentile reaching up to $5,520. The 90th percentile tax bill climbs to $7,756. These tax bills are influenced by several factors, including the property's assessed value, which is determined by local assessors, and the specific tax rate applied by the county and other local jurisdictions. This means that even within the same city, tax bills can vary significantly. The highest and lowest median tax bills in Waterford both stand at $2,592, which is higher than the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax obligations.
Average Waterford Tax Bill
$2,592
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 Waterford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12188 | $1,177 | $1,500 | $2,592 | $5,520 | $7,756 |
Source: Ownwell