Lake Peekskill, New York Property Taxes
The median property tax rate in Lake Peekskill, NY is 2.63%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Lake Peekskill at $305,038, the typical annual property tax bill reaches $7,744, far exceeding the national median of $2,690. Property taxes in Lake Peekskill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lake Peekskill'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 Peekskill 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 Peekskill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.63%
Estimate Property Tax Bill
$8,022
$7,932
$1,148
Average Lake Peekskill, New York Tax Savings
Ownwell’s Lake Peekskill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Peekskill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Peekskill 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 Lake Peekskill. 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 Peekskill, New York
Property taxes in Lake Peekskill, 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 Lake Peekskill is 2.63%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lake Peekskill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Peekskill 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 Peekskill's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 10537 has the highest median property tax rate of 2.63%, while the same zip code also has the lowest median tax rate of 2.63%. Understanding how these figures compare with Lake Peekskill 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 Lake Peekskill Tax Rate
2.63%
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 Lake Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10537 | 1.98% | 2.35% | 2.63% | 2.96% | 2.96% |
Source: Ownwell
$1,148
Average Lake Peekskill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lake Peekskill, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lake Peekskill, NY. The market value represents 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 Westchester 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 Lake Peekskill, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lake Peekskill, the highest median tax bill is $7,744 in the zip code 10537, while the lowest median tax bill is also $7,744 in the same zip code.
Property Tax Assessment Values Across Lake Peekskill, New York
Source: Ownwell
$143,650
$2,206,877
$4,270,103
Average Lake Peekskill Assessed Value
$305,038
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 Lake Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10537 | $109,515 | $182,369 | $305,038 | $404,758 | $581,344 |
Source: Ownwell
$1,148
Average Lake Peekskill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lake Peekskill, New York
In Lake Peekskill, located in Westchester County, NY, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Lake Peekskill is $305,038, and homeowners face a median tax bill of $7,744, significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, leading to varying tax bills across different homes. For instance, the 25th percentile tax bill is $4,949, while the 75th percentile tax bill reaches $10,167, and the 90th percentile hits $16,541. Homeowners in Lake Peekskill can benefit from Ownwell’s expertise in property tax appeals and exemptions. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners potentially lower their tax bills. This can result in significant savings, ensuring that homeowners are not overpaying and are only paying their fair share in property taxes.
Average Lake Peekskill Tax Bill
$7,744
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 Lake Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10537 | $2,592 | $4,949 | $7,744 | $10,167 | $16,541 |
Source: Ownwell
$1,148
Average Lake Peekskill 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 | |
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| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
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