Shrub Oak, New York Property Taxes
The median property tax rate in Shrub Oak, NY is 2.82%, 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 Shrub Oak at $406,735, the typical annual property tax bill reaches $10,645, exceeding the national median of $2,690. Property taxes in Shrub Oak 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 Shrub Oak'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 Shrub Oak 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
Shrub Oak, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$11,470
$11,341
$1,148
Average Shrub Oak, New York Tax Savings
Ownwell’s Shrub Oak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shrub Oak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shrub Oak 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 Shrub Oak. 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 Shrub Oak, New York
Property taxes in Shrub Oak, 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 Shrub Oak is 2.82%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Shrub Oak set these rates annually, and they can vary considerably across different neighborhoods. Each year, Shrub Oak 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 Shrub Oak's effective property tax rate to other counties in New York and the national median. For comparison, the 10588 zip code has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these cities compare with Shrub Oak 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 Shrub Oak Tax Rate
2.82%
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 Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | 2.00% | 2.51% | 2.82% | 3.01% | 3.05% |
Source: Ownwell
$1,148
Average Shrub Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Shrub Oak, New York
In Shrub Oak, 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 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 Shrub Oak, 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 Shrub Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Shrub Oak is 10588, with a median tax bill of $10,645.
Property Tax Assessment Values Across Shrub Oak, New York
Source: Ownwell
$143,650
$2,206,877
$4,270,103
Average Shrub Oak Assessed Value
$406,735
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 Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | $233,938 | $295,336 | $406,735 | $481,865 | $562,176 |
Source: Ownwell
$1,148
Average Shrub Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Shrub Oak, New York
In Shrub Oak, located in Westchester County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $406,735, with property tax bills ranging significantly. Homeowners at the 25th percentile pay around $7,663, while those in the 90th percentile face bills up to $15,866. The highest median tax bill in the region is $10,645, which is notably higher than the national median property tax rate of 0.99%. Several factors influence property tax bills, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes can place a substantial financial burden on homeowners. By appealing the assessed value of their property or applying for exemptions, homeowners can potentially reduce their tax bills. Ownwell offers expert property tax appeal and exemption services, helping homeowners navigate this complex process. By leveraging Ownwell's expertise, homeowners in Shrub Oak can save significantly on their property tax bills, ensuring they only pay their fair share.
Average Shrub Oak Tax Bill
$10,645
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 Shrub Oak, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10588 | $5,209 | $7,663 | $10,645 | $13,302 | $15,866 |
Source: Ownwell
$1,148
Average Shrub Oak Tax Savings
Save on your property taxes & more with Ownwell.
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Dates |
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Links | |
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| Westchester Assessment Review Commission | |
| Website | giswww.westchestergov.com |
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