Hopewell Junction, New York Property Taxes
The median property tax rate in Hopewell Junction, NY is 2.86%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $412,200 in Hopewell Junction, the typical annual property tax bill reaches $11,778, far exceeding the national median of $2,690. Property taxes in Hopewell Junction are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hopewell Junction'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 Hopewell Junction or another part of Dutchess County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hopewell Junction, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.86%
Estimate Property Tax Bill
$11,789
$11,656
Ownwell’s Hopewell Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hopewell Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hopewell Junction 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 Hopewell Junction, New York
Property taxes in Hopewell Junction, 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 Hopewell Junction is 2.86%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hopewell Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hopewell Junction 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 Hopewell Junction's effective property tax rate to other regions and the national median. For comparison, the zip code 12533 has the highest median property tax rate of 2.86%, while the same zip code also has the lowest median tax rate of 2.86%. Understanding how these figures compare with Hopewell Junction provides valuable insights into the varying tax landscape across Dutchess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hopewell Junction Tax Rate
2.86%
Average Dutchess County Tax Rate
2.86%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hopewell Junction, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12533 | 2.54% | 2.86% | 2.86% | 2.94% | 3.05% |
Source: Ownwell
Property Tax Assessment Values Across Hopewell Junction, New York
In Hopewell Junction, 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 Dutchess 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 Hopewell Junction, 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. For instance, the median home price in Hopewell Junction is $412,200, with tax bills ranging from $9,152 at the 25th percentile to $20,060 at the 90th percentile. Notably, the zip code 12533 has both the highest and lowest median tax bill at $11,778. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hopewell Junction, New York
Source: Ownwell
$245,350
$406,675
$568,000
Average Hopewell Junction Assessed Value
$412,200
Average Dutchess County Assessed Value
$321,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hopewell Junction, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12533 | $247,600 | $324,800 | $412,200 | $542,400 | $689,500 |
Source: Ownwell
Property Tax Bills Across Hopewell Junction, New York
In Hopewell Junction, Dutchess County, NY, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and condition play a significant role in the assessment. Homeowners in this area experience varying tax bills, with the 25th percentile paying around $9,152, while those in the 75th percentile face bills up to $15,805. The highest median tax bill in the region is $11,778, reflecting the substantial variation within the county. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, homeowners in Hopewell Junction encounter higher rates, emphasizing the importance of understanding local tax calculations to manage financial planning effectively.
Average Hopewell Junction Tax Bill
$11,778
Average Dutchess County Tax Bill
$9,388
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Hopewell Junction, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12533 | $6,627 | $9,152 | $11,778 | $15,805 | $20,060 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Dutchess Assessment Review Commission | |
| Website | gis.dutchessny.gov |