Rensselaer Falls, New York Property Taxes
The median property tax rate in Rensselaer Falls, NY is 3.24%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Rensselaer Falls, the typical annual property tax bill reaches $2,485, which is just below the national median of $2,690. Property taxes in Rensselaer Falls 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 Rensselaer Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rensselaer Falls 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
Rensselaer Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.24%
Estimate Property Tax Bill
$2,491
$2,463
Ownwell’s Rensselaer Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rensselaer Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rensselaer Falls 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 Rensselaer Falls, New York
Property taxes in Rensselaer Falls, New York, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Rensselaer Falls is 3.24%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Rensselaer Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rensselaer Falls 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 Rensselaer Falls' effective property tax rate to other areas and the national median. For comparison, the zip code 13680 has both the highest and lowest median property tax rate of 3.24%. Understanding how these areas compare with Rensselaer Falls provides valuable insights into the varying tax landscape across St. Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Rensselaer Falls Tax Rate
3.24%
Average St. Lawrence County Tax Rate
3.02%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rensselaer Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13680 | 2.87% | 2.96% | 3.24% | 3.38% | 3.45% |
Source: Ownwell
Property Tax Assessment Values Across Rensselaer Falls, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rensselaer Falls, NY. 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 St. Lawrence 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 Rensselaer Falls, 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. The median home price in Rensselaer Falls is $76,887, with the 25th percentile tax bill at $1,607 and the 75th percentile at $3,767. The highest median tax bill recorded is $2,485 in the 13680 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Rensselaer Falls, New York
Source: Ownwell
$27,044
$104,923
$182,802
Average Rensselaer Falls Assessed Value
$76,887
Average St. Lawrence County Assessed Value
$83,455
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rensselaer Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13680 | $34,824 | $51,546 | $76,887 | $121,429 | $174,822 |
Source: Ownwell
Property Tax Bills Across Rensselaer Falls, New York
In Rensselaer Falls, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, reflecting its worth on the open market. Various factors such as property size, location, and improvements can influence this assessed value. Homeowners in Rensselaer Falls, located in St. Lawrence County, experience property tax bills that vary significantly. For instance, the 25th percentile tax bill is around $1,607, while the 75th percentile reaches up to $3,767, and the 90th percentile can go as high as $5,245. The highest median tax bill in the area is $2,485, which is notably higher than the national median property tax rate of 0.99%. These tax bills can significantly affect homeowners, impacting their annual budgets and overall financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their finances effectively.
Average Rensselaer Falls Tax Bill
$2,485
Average St. Lawrence County Tax Bill
$2,611
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Rensselaer Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13680 | $1,036 | $1,607 | $2,485 | $3,767 | $5,245 |
Source: Ownwell