Ruby, New York Property Taxes
The median property tax rate in Ruby, NY is 3.06%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With the median home value in Ruby, the typical annual property tax bill reaches $6,280, surpassing the national median of $2,690. Property taxes in Ruby 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 Ruby'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 Ruby 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
Ruby, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.06%
Estimate Property Tax Bill
$6,493
$6,420
Ownwell's Ruby Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Ruby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruby to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Ruby, New York
Property taxes in Ruby, 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 Ruby is 3.06%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Ruby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruby 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 Ruby's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12475 has both the highest and lowest median property tax rate of 3.06%. Understanding how these areas compare with Ruby 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 Ruby Tax Rate
3.06%
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 Ruby, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12475 | 2.94% | 3.06% | 3.06% | 3.06% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across Ruby, New York
In Ruby, 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 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 Ruby, 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 Ruby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12475 has the highest and lowest median tax bill at $6,280.
Average Ruby Assessed Value
$212,182
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 Ruby, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12475 | $101,746 | $154,545 | $212,182 | $320,932 | $418,255 |
Source: Ownwell
Property Tax Bills Across Ruby, New York
In Ruby, located in Ulster County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and condition, as well as recent sales of comparable properties in the area. Homeowners in Ruby face varying property tax bills, with the 25th percentile paying around $4,587 annually, while those in the 75th percentile pay approximately $9,448. For the top 10% of homeowners, tax bills can reach up to $12,654. These figures are significantly above the national median property tax rate of 0.99%, reflecting the high property values and tax rates in the area. Consequently, property taxes can have a substantial impact on household budgets, making it essential for homeowners to understand how their tax bills are determined.
Average Ruby Tax Bill
$6,280
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 Ruby, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12475 | $2,464 | $4,587 | $6,280 | $9,448 | $12,654 |
Source: Ownwell