Lew Beach, New York Property Taxes
The median property tax rate in Lew Beach, NY is 2.31%, 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 Lew Beach at $80,500, the typical annual property tax bill reaches $1,859, which still exceeds the national median of $2,690. Property taxes in Lew Beach 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 Lew Beach'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 Lew Beach 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
Lew Beach, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$1,860
$1,726
Ownwell’s Lew Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lew Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lew Beach 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 Lew Beach, New York
Property taxes in Lew Beach, New York, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Lew Beach is 2.31%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lew Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lew Beach 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 Lew Beach's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12758 has both the highest and lowest median property tax rate of 2.31%. Understanding how these cities compare with Lew Beach 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 Lew Beach Tax Rate
2.31%
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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Lew Beach, New York
In Lew Beach, 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 Lew Beach, 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 Lew Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lew Beach are both $1859, with the zip code 12758.
Average Lew Beach Assessed Value
$80,500
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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | $80,500 | $80,500 | $80,500 | $80,500 | $80,500 |
Source: Ownwell
Property Tax Bills Across Lew Beach, New York
In Lew Beach, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of your property. This figure is then multiplied by the local tax rate to determine your annual property tax bill. In Delaware County, where Lew Beach is located, the median home price is $80,500. Homeowners in this region can expect a consistent property tax bill of $1,859, which falls in the 25th, 75th, and 90th percentiles. This uniform tax bill suggests a stable tax rate across various home values. When compared to the national median property tax rate of 0.99%, the property taxes in Lew Beach appear to be relatively high, affecting homeowners by increasing the overall cost of homeownership. For residents, understanding these factors is crucial as it directly impacts their annual financial planning and the affordability of living in this picturesque part of New York.
Average Lew Beach Tax Bill
$1,859
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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | $1,859 | $1,859 | $1,859 | $1,859 | $1,859 |
Source: Ownwell