Canaan, Columbia County, New York Property Taxes

Name: Property Tax Bills Across Canaan, Columbia County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Canaan, NY effective property tax rate: 1.78%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Canaan, NY home value: $295,455
Median annual Canaan, NY tax bill: $5,020, $2,620 higher than the national median property tax bill of $2,400.

How are property taxes in Columbia calculated?

Property taxes in Canaan, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Canaan’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Canaan, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Canaan, Columbia County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.78%

Estimate Property Tax Bill

$5,259

$4,880

Ownwell’s Canaan Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Canaan with just two data points. By entering your property's estimated assessed value, our calculator applies Canaan’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Columbia County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Canaan, Columbia County, New York

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Canaan, located in Columbia County, New York, the effective property tax rate reflects this process. The median property tax rate in New York is significantly higher than the national median, making it crucial for property owners to understand how their taxes are assessed. Comparing Canaan's effective property tax rate to other cities in New York and the U.S. median can provide valuable insights for homeowners. With the highest and lowest median tax rates in the area being the same, property owners in Canaan may find it beneficial to explore property tax appeal and exemption services. Understanding these rates can lead to potential savings and a better grasp of one's financial obligations.

Property Tax Rates Across Canaan, Columbia County, New York

Source: Ownwell

1.41%

1.87%

2.34%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Canaan Tax Rate

1.78%

Median Effective Columbia County Tax Rate

1.71%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Canaan, Columbia County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12029	1.67%	1.67%	1.78%	1.78%	1.80%

Source: Ownwell

Property Tax Assessment Values Across Canaan, Columbia County, New York

When examining property taxes in Canaan, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Columbia County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Columbia County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Canaan.

For example, the median home price in Canaan is $295,455, with tax bills ranging significantly across the county. Zip code 12029 has the highest median home price at $295,455.

Property Tax Assessment Values Across Canaan, Columbia County, New York

Source: Ownwell

$180,460

$302,730

$425,000

Median Canaan Market Value

$295,455

Median Columbia County Market Value

$284,810

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Canaan, Columbia County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12029	$141,363	$204,545	$295,455	$418,750	$636,364

Source: Ownwell

Property Tax Bills Across Canaan, Columbia County, New York

In Canaan, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Canaan, the median home price is $295,455, and the property tax bills can vary significantly. The 25th percentile tax bill is $3,502, while the 75th percentile reaches $7,209, and the 90th percentile soars to $10,791. This highlights the variation in tax burdens depending on property values and assessments. The highest and lowest median tax bills in the area are both $5,020, indicating a consistent tax rate across the board. Compared to the national median property tax bill of $2,400, Canaan's rates are considerably higher. Ownwell can assist homeowners in reducing their property tax bills by providing expert guidance on appealing assessments and ensuring eligibility for exemptions, potentially saving them thousands annually.

Property Tax Bills Across Canaan, Columbia County, New York

Source: Ownwell

$2,904

$5,795

$8,685

Median Canaan Tax Bill

$5,020

Median Columbia County Tax Bill

$4,915

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Canaan, Columbia County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12029	$2,370	$3,502	$5,020	$7,209	$10,791

Source: Ownwell