Comstock, New York Property Taxes
The median property tax rate in Comstock, NY is 2.04%, 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 Comstock at $152,918, the typical annual property tax bill reaches $3,096, exceeding the national median of $2,690. Property taxes in Comstock 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 Comstock'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 Comstock 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
Comstock, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$3,120
$3,084
Ownwell’s Comstock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Comstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Comstock 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 Comstock, New York
Property taxes in Comstock, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Comstock is 2.04%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Comstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Comstock 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 Comstock's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12821 has the highest median property tax rate of 2.04%, while the same zip code has the lowest median tax rate of 2.04%. Understanding how these cities compare with Comstock provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Comstock Tax Rate
2.04%
Average Washington County Tax Rate
2.41%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Comstock, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12821 | 1.85% | 2.04% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Comstock, New York
In Comstock, 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 Washington 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 Comstock, 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 Comstock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Comstock are both $3,096, found in the 12821 zip code.
Average Comstock Assessed Value
$152,918
Average Washington County Assessed Value
$158,585
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Comstock, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12821 | $75,887 | $116,923 | $152,918 | $192,047 | $241,601 |
Source: Ownwell
Property Tax Bills Across Comstock, New York
In Comstock, Washington County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value reflects a percentage of the market value of the property. Once the assessed value is established, local tax rates, also known as millage rates, are applied to calculate the final tax bill. For homeowners in Comstock, the median home price is $152,918. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is around $2,294, while the 75th percentile tax bill reaches approximately $3,795. At the higher end, the 90th percentile tax bill can be as much as $5,001. These figures indicate a range of property tax obligations, influenced by factors such as property value and local tax rates. Compared to the national median property tax rate of 0.99%, Comstock's property tax bills reflect the region's specific economic conditions and local government funding needs, impacting homeowners' annual financial responsibilities.
Average Comstock Tax Bill
$3,096
Average Washington County Tax Bill
$3,943
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Comstock, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12821 | $1,448 | $2,294 | $3,096 | $3,795 | $5,001 |
Source: Ownwell