Arkville, New York Property Taxes
The median property tax rate in Arkville, NY is 1.67%, 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 Arkville at $152,000, the typical annual property tax bill reaches $2,542, slightly below the national median of $2,690. Property taxes in Arkville 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 Arkville'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 Arkville or another part of Delaware County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arkville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$2,538
$2,356
Ownwell’s Arkville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Arkville with just two simple inputs. By providing your property's estimated assessed value, the calculator uses the median tax rate in Arkville to project your property tax bill. This valuable tool helps you gauge potential tax obligations and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Arkville, New York
Property taxes in Arkville, 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 Arkville is 1.67%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Arkville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arkville 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 Arkville's effective property tax rate to other counties in New York and the national median. For comparison, the 12406 zip code has the highest median property tax rate of 1.67%, while the same zip code also has the lowest median tax rate of 1.67%. Understanding how these cities compare with Arkville provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arkville Tax Rate
1.67%
Average Delaware County Tax Rate
2.34%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arkville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12406 | 1.66% | 1.67% | 1.67% | 1.72% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Arkville, New York
In Arkville, 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 Delaware County Assessment Office 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 Arkville, 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 Arkville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Arkville is $152,000, with the 25th percentile tax bill at $1,868 and the 75th percentile tax bill at $3,464. The highest and lowest median tax bills are both $2,542, found in the zip code 12406.
Average Arkville Assessed Value
$152,000
Average Delaware County Assessed Value
$129,271
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arkville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12406 | $67,840 | $111,650 | $152,000 | $206,450 | $290,180 |
Source: Ownwell
Property Tax Bills Across Arkville, New York
In Arkville, Delaware County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $152,000, homeowners in Arkville can expect varying tax bills. At the 25th percentile, the tax bill is around $1,868, while at the 75th percentile, it rises to $3,464, and at the 90th percentile, it can reach up to $4,907. Several factors influence these amounts, such as property size, location, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, making Arkville's rates significant for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly. This variability in tax bills underscores the importance of accurate property assessments and staying informed about local tax rates and exemptions.
Average Arkville Tax Bill
$2,542
Average Delaware County Tax Bill
$3,106
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Arkville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12406 | $1,102 | $1,868 | $2,542 | $3,464 | $4,907 |
Source: Ownwell