Bloomingburg, New York Property Taxes
The median property tax rate in Bloomingburg, NY is 1.44%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With the median home value in Bloomingburg at $303,956, the typical annual property tax bill reaches $1,743, which is below the national median of $2,690. Property taxes in Bloomingburg 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 Bloomingburg'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 Bloomingburg 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
Bloomingburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$4,377
$4,328
Ownwell’s Bloomingburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bloomingburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bloomingburg 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 Bloomingburg, New York
Property taxes in Bloomingburg, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomingburg is 1.44%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bloomingburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomingburg 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 Bloomingburg's effective property tax rate to other areas in New York and the national median. For comparison, the 12721 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these areas compare with Bloomingburg provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomingburg Tax Rate
1.44%
Average Sullivan County Tax Rate
1.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | 0.42% | 1.05% | 1.44% | 1.53% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Bloomingburg, New York
In Bloomingburg, 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 Sullivan 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 Bloomingburg, 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. The median home price in Bloomingburg is $303,956, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $451, while the 75th percentile tax bill is $3,251. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Bloomingburg's highest and lowest median tax bills both stand at $1,743 in the 12721 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bloomingburg Assessed Value
$303,956
Average Sullivan County Assessed Value
$159,121
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | $146,505 | $229,890 | $303,956 | $352,967 | $421,627 |
Source: Ownwell
Property Tax Bills Across Bloomingburg, New York
In Bloomingburg, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Bloomingburg, the median home price is $303,956, and property tax rates are influenced by various factors, including local government budgets and public service funding needs. Homeowners can expect significant variability in their tax bills. For instance, the tax bill at the 25th percentile is $451, while at the 75th percentile, it rises to $3,251. At the 90th percentile, it can reach up to $3,910. These figures show the range of tax burdens that homeowners might face, depending on their property's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Bloomingburg's property taxes can be relatively high, impacting homeowners' overall financial planning and potentially influencing decisions related to buying or selling property in the area.
Average Bloomingburg Tax Bill
$1,743
Average Sullivan County Tax Bill
$2,467
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | $180 | $451 | $1,743 | $3,251 | $3,910 |
Source: Ownwell