Lake Huntington, New York Property Taxes
The median property tax rate in Lake Huntington, NY is 1.16%, 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 Lake Huntington at $192,834, the typical annual property tax bill reaches $2,217, which is below the national median of $2,690. Property taxes in Lake Huntington 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 Lake Huntington'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 Lake Huntington 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
Lake Huntington, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,237
$2,212
Ownwell’s Lake Huntington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Huntington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Huntington 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 Lake Huntington, New York
Property taxes in Lake Huntington, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Huntington is 1.16%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lake Huntington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Huntington 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 Lake Huntington's effective property tax rate to other counties in New York and the national median. For comparison, the 12752 zip code has the highest median property tax rate of 1.16%, while the same zip code has the lowest median tax rate of 1.16%. Understanding how these cities compare with Lake Huntington 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 Lake Huntington Tax Rate
1.16%
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 Lake Huntington, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12752 | 1.16% | 1.16% | 1.16% | 1.27% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Lake Huntington, New York
In Lake Huntington, 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 Assessment Office 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 Lake Huntington, 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 Lake Huntington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 12752, with a median tax bill of $2,217.
Property Tax Assessment Values Across Lake Huntington, New York
Source: Ownwell
$29,135
$166,546
$303,956
Average Lake Huntington Assessed Value
$192,834
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 Lake Huntington, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12752 | $103,000 | $144,375 | $192,834 | $244,542 | $349,084 |
Source: Ownwell
Property Tax Bills Across Lake Huntington, New York
In Lake Huntington, Sullivan County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Lake Huntington, the median home price stands at $192,834. Property tax bills can vary significantly, with the 25th percentile at $1,731 and the 75th percentile at $2,886, while those in the 90th percentile can reach up to $3,680. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Sullivan County's rates can result in substantial annual costs for homeowners, impacting their overall financial planning and housing affordability. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Lake Huntington Tax Bill
$2,217
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 Lake Huntington, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12752 | $1,200 | $1,731 | $2,217 | $2,886 | $3,680 |
Source: Ownwell