Jefferson, New York Property Taxes
The median property tax rate in Jefferson, NY is 2.81%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $134,340 in Jefferson, the typical annual property tax bill reaches $3,725, far exceeding the national median of $2,690. Property taxes in Jefferson are calculated based on the tax-assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jefferson'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 Jefferson or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jefferson, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.81%
Estimate Property Tax Bill
$3,775
$3,732
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, New York
Property taxes in Jefferson, 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 Jefferson is 2.81%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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. Understanding how Jefferson's effective property tax rate compares to other counties in New York and the national median provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
2.81%
Average Schoharie County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12093 | 2.61% | 2.78% | 2.81% | 2.81% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, New York
In Jefferson, 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 Jefferson 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. Assessment notices in Jefferson 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,725, found in zip code 12093.
Average Jefferson Assessed Value
$134,340
Average Schoharie County Assessed Value
$130,625
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12093 | $46,081 | $78,894 | $134,340 | $185,878 | $244,830 |
Source: Ownwell
Property Tax Bills Across Jefferson, New York
In Jefferson, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, determined by the local assessor's office. Once the assessed value is established, it is multiplied by the tax rate set by local taxing authorities to determine the annual tax bill. Several factors influence the property tax bill, including the property's location, size, and condition, as well as any applicable exemptions or deductions. For instance, properties in areas with higher demand or better amenities may have higher assessed values, leading to larger tax bills. Homeowners in Jefferson can expect their tax bills to vary widely, with the 25th percentile at $2,168 and the 75th percentile reaching $5,143. At the 90th percentile, tax bills can be as high as $6,703, significantly above the national median property tax rate of 0.99%. This variation underscores the importance of understanding local property assessments and tax rates to effectively manage homeownership costs.
Average Jefferson Tax Bill
$3,725
Average Schoharie County Tax Bill
$3,729
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12093 | $1,261 | $2,168 | $3,725 | $5,143 | $6,703 |
Source: Ownwell