Masonville, New York Property Taxes
The median property tax rate in Masonville, NY is 2.68%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Masonville at $93,400, the typical annual property tax bill reaches $2,528, which is just below the national median of $2,690. Property taxes in Masonville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Masonville'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 Masonville 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
Masonville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$2,503
$2,475
Ownwell’s Masonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Masonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Masonville 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 Masonville, New York
Property taxes in Masonville, New York, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Masonville is 2.68%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Masonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Masonville 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 Masonville's effective property tax rate to other counties in New York and the national median. For comparison, the 13804 zip code has the highest median property tax rate of 2.68%, while the same zip code also has the lowest median tax rate of 2.68%. Understanding how these cities compare with Masonville 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 Masonville Tax Rate
2.68%
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 Masonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13804 | 2.51% | 2.68% | 2.68% | 2.68% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Masonville, New York
In Masonville, 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 Masonville, 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. The highest median tax bill in Masonville is $2528 in the 13804 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Masonville Assessed Value
$93,400
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 Masonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13804 | $30,680 | $56,900 | $93,400 | $141,500 | $197,060 |
Source: Ownwell
Property Tax Bills Across Masonville, New York
In Masonville, 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 $93,400, homeowners can expect varying tax bills. The 25th percentile tax bill is around $1,549, indicating lower-end property values, while the 75th percentile tax bill reaches $3,792, and the 90th percentile soars to $5,236, reflecting higher property values and possibly larger or more desirable homes. These tax bills significantly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Masonville's rates can be quite variable, affecting affordability and financial planning for residents. High tax bills can be a burden, but they also fund essential local services like schools, infrastructure, and emergency services, contributing to the community's overall well-being.
Average Masonville Tax Bill
$2,528
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 Masonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13804 | $849 | $1,549 | $2,528 | $3,792 | $5,236 |
Source: Ownwell