New Kingston, New York Property Taxes
The median property tax rate in New Kingston, 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 New Kingston, the typical annual property tax bill reaches $3,264, exceeding the national median of $2,690. Property taxes in New Kingston 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 New Kingston'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 New Kingston 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
New Kingston, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,283
$3,047
Ownwell’s New Kingston Property Tax Bill Calculator is a powerful tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in New Kingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Kingston 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 New Kingston, New York
Property taxes in New Kingston, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Kingston 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 New Kingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Kingston 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 New Kingston's effective property tax rate to other counties in New York and the national median. For comparison, the 12459 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 New Kingston 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 New Kingston 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 New Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12459 | 1.67% | 1.67% | 1.67% | 1.67% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across New Kingston, New York
In New Kingston, 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 New Kingston, 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 New Kingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,264 in zip code 12459, while the lowest is also $3,264 in the same zip code.
Average New Kingston Assessed Value
$196,600
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 New Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12459 | $92,780 | $133,100 | $196,600 | $264,000 | $383,560 |
Source: Ownwell
Property Tax Bills Across New Kingston, New York
In New Kingston, located in Delaware County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in New Kingston is $196,600. Property taxes here can vary significantly, with the 25th percentile tax bill at $2,180 and the 75th percentile reaching $4,390. For those at the 90th percentile, the tax bill can soar to $6,414. To determine the tax bill, local assessors evaluate the market value of a property and apply the appropriate assessment ratio. This assessed value is then multiplied by the local tax rate, which is influenced by the funding needs of local services such as schools, infrastructure, and public safety. Homeowners in New Kingston should be aware that their property tax bills can be higher than the national median property tax rate of 0.99%, affecting their overall cost of homeownership. This can impact decisions on buying, selling, or making improvements to their property.
Average New Kingston Tax Bill
$3,264
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 New Kingston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12459 | $1,506 | $2,180 | $3,264 | $4,390 | $6,414 |
Source: Ownwell