Mount Marion, New York Property Taxes
The median property tax rate in Mount Marion, NY is 2.59%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Mount Marion, the typical annual property tax bill reaches $4,204, exceeding the national median of $2,690. Property taxes in Mount Marion 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 Mount Marion'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 Mount Marion 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
Mount Marion, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$4,338
$4,289
Ownwell’s Mount Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Marion 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 Mount Marion, New York
Property taxes in Mount Marion, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Marion is 2.59%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Mount Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Marion 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 Mount Marion's effective property tax rate to other regions in New York and the national median. For comparison, the zip code 12456 has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with Mount Marion provides valuable insights into the varying tax landscape across Ulster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Marion Tax Rate
2.59%
Average Ulster County Tax Rate
2.67%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12456 | 2.33% | 2.59% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Mount Marion, New York
In Mount Marion, 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 Ulster County Assessor 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 Mount Marion, 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 Mount Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12456 has the highest median tax bill at $4204, which is also the lowest in the area.
Average Mount Marion Assessed Value
$167,500
Average Ulster County Assessed Value
$268,649
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12456 | $150,000 | $152,000 | $167,500 | $178,500 | $197,300 |
Source: Ownwell
Property Tax Bills Across Mount Marion, New York
In Mount Marion, Ulster County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Mount Marion experience a range of tax bills. For instance, the 25th percentile of tax bills is $3,893, while the 75th percentile is $4,605, and the 90th percentile reaches up to $5,081. The median home price in the area stands at $167,500. Compared to the national median property tax rate of 0.99%, homeowners in Mount Marion may find their tax bills higher, reflecting the local tax rate and assessed property values. This can impact homeowners by influencing their overall housing costs and potentially affecting their long-term financial planning.
Average Mount Marion Tax Bill
$4,204
Average Ulster County Tax Bill
$6,879
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12456 | $3,568 | $3,893 | $4,204 | $4,605 | $5,081 |
Source: Ownwell