South Kortright, New York Property Taxes
The median property tax rate in South Kortright, NY is 2.55%, 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 South Kortright, the typical annual property tax bill reaches $3,950, exceeding the national median of $2,690. Property taxes in South Kortright 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 South Kortright'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 South Kortright 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
South Kortright, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.55%
Estimate Property Tax Bill
$3,914
$3,632
Ownwell’s South Kortright Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in South Kortright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Kortright to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Delaware County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across South Kortright, New York
Property taxes in South Kortright, 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 South Kortright is 2.55%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within South Kortright set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Kortright 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 South Kortright's effective property tax rate to other counties in New York and the national median. For comparison, the 13842 zip code has the highest median property tax rate of 2.55%, while the same zip code also has the lowest median tax rate of 2.55%. Understanding how these cities compare with South Kortright 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 South Kortright Tax Rate
2.55%
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 South Kortright, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13842 | 2.49% | 2.52% | 2.55% | 2.66% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across South Kortright, New York
In South Kortright, 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 offices 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. 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 South Kortright helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Delaware County is $3,950 in the 13842 zip code.
Property Tax Assessment Values Across South Kortright, New York
Source: Ownwell
$11,700
$136,500
$261,300
Average South Kortright Assessed Value
$153,500
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 South Kortright, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13842 | $63,380 | $102,500 | $153,500 | $214,200 | $300,400 |
Source: Ownwell
Property Tax Bills Across South Kortright, New York
In South Kortright, located in Delaware County, NY, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $153,500, homeowners can expect varying tax bills depending on their property's specific assessment and applicable exemptions. Several factors influence the final tax bill, including property size, location, and any improvements made. The tax bill can range significantly; for example, the 25th percentile tax bill is $2,712, while the 75th percentile reaches $5,482. At the higher end, the 90th percentile tax bill is a substantial $7,881. This variability in tax bills affects homeowners differently, with some paying much more than others. Compared to the national median property tax rate of 0.99%, the tax rates in South Kortright can lead to higher-than-average tax bills, making it crucial for homeowners to understand their assessed values and seek potential exemptions to manage their expenses effectively.
Average South Kortright Tax Bill
$3,950
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 South Kortright, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13842 | $1,606 | $2,712 | $3,950 | $5,482 | $7,881 |
Source: Ownwell