Denver, New York Property Taxes
The median property tax rate in Denver, NY is 1.93%, 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 Denver, the typical annual property tax bill reaches $3,727, exceeding the national median of $2,690. Property taxes in Denver 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 Denver'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 Denver 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
Denver, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$3,416
$3,378
Ownwell’s Denver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Denver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denver 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 Denver, New York
Property taxes in Denver, 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 Denver is 1.93%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Denver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denver 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. Understanding how these cities compare with Denver 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 Denver Tax Rate
1.93%
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 Denver, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12421 | 1.93% | 1.93% | 1.93% | 1.94% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Denver, New York
In Denver, 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 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 Denver, 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. The median home price in the area is $177,000, with tax bills ranging from $2,680 at the 25th percentile to $7,320 at the 90th percentile. 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 Denver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Denver Assessed Value
$177,000
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 Denver, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12421 | $83,320 | $128,325 | $177,000 | $265,400 | $385,880 |
Source: Ownwell
Property Tax Bills Across Denver, New York
In Denver, Delaware 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 is meant to represent the market value of the property. Homeowners in this area face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $2,680, while the 75th percentile reaches up to $5,144, and the 90th percentile can hit $7,320. Given that the national median property tax rate is 0.99%, homeowners in Denver may find their tax bills to be relatively high compared to other regions. This can have a substantial impact on homeowners, influencing their overall housing costs and potentially affecting their financial planning. The highest and lowest median tax bills in the county are both recorded at $3,727 in the zip code 12421, indicating a range of property values and corresponding tax obligations within the region.
Average Denver Tax Bill
$3,727
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 Denver, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12421 | $1,587 | $2,680 | $3,727 | $5,144 | $7,320 |
Source: Ownwell