Peru, New York Property Taxes
The median property tax rate in Peru, NY is 2.42%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $189,700 in Peru, the typical annual property tax bill reaches $4,759, exceeding the national median of $2,690. Property taxes in Peru 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 Peru'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 Peru or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peru, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$4,591
$4,539
Ownwell’s Peru Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peru with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peru 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 Peru, New York
Property taxes in Peru, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peru is 2.42%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Peru set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peru 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 Peru's effective property tax rate to other counties in New York and the national median. For comparison, the 12972 zip code has the highest median property tax rate of 2.42%, while the same zip code also has the lowest median tax rate of 2.42%. Understanding how these cities compare with Peru provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peru Tax Rate
2.42%
Average Clinton County Tax Rate
2.57%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peru, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12972 | 2.34% | 2.42% | 2.42% | 2.73% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Peru, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Peru, New York. 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 Clinton 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 Peru, 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. For instance, the median home price in Peru is $189,700, with tax bills ranging from $3,278 at the 25th percentile to $8,025 at the 90th percentile. The highest median tax bill is $4,759 in zip code 12972. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Peru Assessed Value
$189,700
Average Clinton County Assessed Value
$146,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peru, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12972 | $76,500 | $131,325 | $189,700 | $254,275 | $319,470 |
Source: Ownwell
Property Tax Bills Across Peru, New York
In Peru, located in Clinton County, NY, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Peru is $189,700, and the property tax rate in this region is higher than the national median of 0.99%. Homeowners in Peru can expect their tax bills to vary significantly, with the 25th percentile paying around $3,278, while those in the 75th percentile pay up to $6,287. The top 10% of taxpayers face bills as high as $8,025. Various factors influence these amounts, including the property's assessed value, any applicable exemptions, and the specific rates set by local taxing authorities. High property taxes can be a financial burden but also contribute to funding essential public services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Peru Tax Bill
$4,759
Average Clinton County Tax Bill
$3,822
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Peru, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12972 | $1,898 | $3,278 | $4,759 | $6,287 | $8,025 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Clinton Assessment Review Commission | |
| Website | clinco.maps.arcgis.com |