Bronx, New York Property Taxes
The median property tax rate in Bronx, NY is 0.34%, significantly lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Bronx at $473,880, the typical annual property tax bill is $2,065, which is below the national median of $2,690. Property taxes in Bronx are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bronx'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 Bronx 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
Bronx, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$1,611
$1,593
$1,148
Average Bronx, New York Tax Savings
Ownwell’s Bronx Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bronx with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bronx to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Bronx. 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 Bronx, New York
Property taxes in Bronx, New York, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Bronx is 0.34%, significantly lower than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bronx set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bronx 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 Bronx's effective property tax rate to other counties in New York and the national median. For comparison, the 10466 zip code has the highest median property tax rate of 3.21%, while the same zip code also reports the lowest median tax rate of 3.21%. Understanding how these areas compare with Bronx provides valuable insights into the varying tax landscape across Westchester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bronx Tax Rate
0.34%
Average Westchester County Tax Rate
2.29%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bronx, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10466 | 3.21% | 3.21% | 3.21% | 3.21% | 3.21% |
| 10471 | 0.31% | 0.32% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
$1,148
Average Bronx Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Bronx, New York
In BRONX, 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 local assessment authority 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 BRONX, 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 BRONX is $473,880, with tax bills ranging from $1,377 at the 25th percentile to $10,865 at the 90th percentile. The highest median tax bill is $14,395 in zip code 10466, while the lowest is $1,502 in zip code 10471. 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 BRONX helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bronx Assessed Value
$473,880
Average Westchester County Assessed Value
$589,473
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bronx, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10466 | $447,761 | $447,761 | $447,761 | $447,761 | $447,761 |
| 10471 | $335,790 | $397,368 | $500,000 | $636,842 | $718,947 |
Source: Ownwell
$1,148
Average Bronx Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Bronx, New York
In Bronx, NY, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. In Bronx, the median home price is $473,880, with tax bills ranging from $1,377 at the 25th percentile to $10,865 at the 90th percentile. The highest median tax bill in the area is $14,395 in zip code 10466, while the lowest is $1,502 in zip code 10471. Ownwell can help homeowners in Bronx save on their property tax bills by providing expert property tax appeal services. Our team analyzes your property’s assessed value and compares it with current market conditions to identify discrepancies. By filing a well-supported appeal, we can potentially lower your assessed value, resulting in significant tax savings. Trust Ownwell to ensure you’re not overpaying on your property taxes.
Average Bronx Tax Bill
$2,065
Average Westchester County Tax Bill
$12,812
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bronx, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10466 | $14,395 | $14,395 | $14,395 | $14,395 | $14,395 |
| 10471 | $1,101 | $1,251 | $1,502 | $2,065 | $2,403 |
Source: Ownwell
$1,148
Average Bronx Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates |
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Links | |
|---|---|
| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
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