Kirkwood, New York Property Taxes
The median property tax rate in Kirkwood, NY is 2.77%, 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 Kirkwood at $117,355, the typical annual property tax bill reaches $3,424, exceeding the national median of $2,690. Property taxes in Kirkwood 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 Kirkwood'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 Kirkwood 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
Kirkwood, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.77%
Estimate Property Tax Bill
$3,251
$3,214
Ownwell’s Kirkwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kirkwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kirkwood to estimate 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 Kirkwood, New York
Property taxes in Kirkwood, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Kirkwood is 2.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kirkwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kirkwood 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 Kirkwood's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13795 has both the highest and lowest median property tax rate of 2.77%. Understanding how these areas compare with Kirkwood 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 Kirkwood Tax Rate
2.77%
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 Kirkwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13795 | 2.68% | 2.73% | 2.77% | 3.49% | 3.51% |
Source: Ownwell
Property Tax Assessment Values Across Kirkwood, New York
In Kirkwood, 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 Kirkwood, 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 Kirkwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 13795, with a median tax bill of $3,424, while the zip code with the lowest median tax bill is also 13795, with the same median tax bill of $3,424.
Average Kirkwood Assessed Value
$117,355
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 Kirkwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13795 | $51,819 | $90,909 | $117,355 | $148,760 | $201,901 |
Source: Ownwell
Property Tax Bills Across Kirkwood, New York
In Kirkwood, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $117,355, homeowners can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $2,676, while at the 75th percentile, they rise to approximately $4,380. The highest tax bills, at the 90th percentile, can reach up to $6,065. Several factors influence these tax bills, including the home's market value, any exemptions for which the homeowner may qualify, and the specific tax rates set by local taxing authorities. Compared to the national median property tax rate of 0.99%, Kirkwood's rates result in relatively higher tax bills, impacting homeowners by increasing their annual housing costs. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Kirkwood Tax Bill
$3,424
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 Kirkwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13795 | $1,709 | $2,676 | $3,424 | $4,380 | $6,065 |
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 |