Berkshire, New York Property Taxes
The median property tax rate in Berkshire, NY is 3.07%, 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 Berkshire, the typical annual property tax bill reaches $2,693, slightly above the national median of $2,690. Property taxes in Berkshire are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Berkshire'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 Berkshire 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
Berkshire, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$2,741
$2,710
Ownwell’s Berkshire Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Berkshire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berkshire to provide an estimate of 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 Berkshire, New York
Property taxes in Berkshire, 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 Berkshire is 2.67%, significantly higher than both the New York state median of 1.38% and the U.S. national median of 0.99%. Local government entities within Berkshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berkshire 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 Berkshire's effective property tax rate to other counties in New York and the national median. For comparison, the 13736 zip code has the highest median property tax rate of 3.07%, while the same zip code also has the lowest median tax rate of 3.07%. Understanding how these areas compare with Berkshire provides valuable insights into the varying tax landscape across Broome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berkshire Tax Rate
3.07%
Average Broome County Tax Rate
3.50%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berkshire, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13736 | 2.62% | 2.93% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Berkshire, New York
In Berkshire, 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 Broome 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 Berkshire, 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 Berkshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Broome County is $2,693 in zip code 13736, while the lowest is also $2,693 in the same zip code.
Average Berkshire Assessed Value
$89,286
Average Broome County Assessed Value
$113,808
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berkshire, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13736 | $44,576 | $67,411 | $89,286 | $151,674 | $221,585 |
Source: Ownwell
Property Tax Bills Across Berkshire, New York
In Berkshire, located in Broome County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Factors influencing the tax bill include property size, location, and any applicable exemptions or abatements. For homeowners in Berkshire, the median home price is $89,286. Property tax bills vary significantly, with the 25th percentile paying around $2,060 annually, while those in the 75th percentile face bills of approximately $4,590. The 90th percentile sees even higher bills at $5,528. Comparatively, the highest median tax bill in Broome County stands at $2,693, which is above the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly.
Average Berkshire Tax Bill
$2,693
Average Broome County Tax Bill
$4,421
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Berkshire, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13736 | $1,367 | $2,060 | $2,693 | $4,590 | $5,528 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Broome Assessment Review Commission | |
| Website | gis.broomecountyny.gov |