Peekskill, New York Property Taxes
The median property tax rate in Peekskill, NY is 2.78%, 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 Peekskill at $313,954, the typical annual property tax bill reaches $7,998, exceeding the national median of $2,690. Property taxes in Peekskill 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 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 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
Peekskill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.78%
Estimate Property Tax Bill
$8,728
$8,630
$1,148
Average Peekskill, New York Tax Savings
Ownwell’s Peekskill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peekskill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 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 Peekskill, New York
Property taxes in Peekskill, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peekskill is 2.78%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Peekskill set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Peekskill's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 10566 has the highest median property tax rate of 2.78%, while the same zip code also has the lowest median tax rate of 2.78%. Understanding how these cities compare with 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 Peekskill Tax Rate
2.78%
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 Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10566 | 1.15% | 2.25% | 2.78% | 3.11% | 3.11% |
Source: Ownwell
$1,148
Average Peekskill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Peekskill, New York
In Peekskill, New York, grasping the distinction between "market value" and "assessed value" is essential for understanding property taxes. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Westchester County assessment office for tax purposes. Conversely, 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 Peekskill, assessment notices are generally mailed out in the spring, typically by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. Understanding these valuation concepts enables property owners to better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Peekskill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Peekskill, the zip code 10566 has the highest median tax bill at $7,998 and also the lowest median tax bill at $7,998.
Property Tax Assessment Values Across Peekskill, New York
Source: Ownwell
$143,650
$2,206,877
$4,270,103
Average Peekskill Assessed Value
$313,954
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 Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10566 | $158,024 | $224,806 | $313,954 | $387,597 | $465,116 |
Source: Ownwell
$1,148
Average Peekskill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Peekskill, New York
In Peekskill, located in Westchester County, NY, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. Homeowners in Peekskill face property tax bills that can vary significantly. The median home price is $313,954, and tax bills range from $4,861 at the 25th percentile to $13,605 at the 90th percentile. The highest and lowest median tax bills both sit at $7,998 in the 10566 zip code. These figures are notably higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include local tax rates and the assessed property value. High property taxes can be a financial burden on homeowners, but Ownwell can help. By providing expert property tax appeal and exemption services, Ownwell assists homeowners in challenging their assessed values, potentially lowering their tax bills. This professional guidance ensures homeowners pay only their fair share, offering significant savings and peace of mind.
Average Peekskill Tax Bill
$7,998
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 Peekskill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10566 | $2,725 | $4,861 | $7,998 | $11,074 | $13,605 |
Source: Ownwell
$1,148
Average Peekskill Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.