Keene Valley, Essex County, New York Property Taxes
The median property tax rate in Keene Valley, NY is 2.16%, 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 Keene Valley, the typical annual property tax bill reaches $6,201, exceeding the national median of $2,690. Property taxes in Keene Valley 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 Keene Valley'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 Keene Valley 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
Keene Valley, Essex County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.16%
Estimate Property Tax Bill
$6,494
$6,026
Ownwell’s Keene Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keene Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keene Valley 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 Keene Valley, Essex County, New York
Property taxes in Keene Valley, New York, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Keene Valley is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Keene Valley set these rates annually, and they can vary across different neighborhoods. Each year, Keene Valley 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 Keene Valley's effective property tax rate to other counties in New York and the national median. For comparison, the ZIP code 12943 has the highest median property tax rate of 1.64%, while the lowest median tax rate is also 1.64%. Understanding how these areas compare with Keene Valley provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keene Valley Tax Rate
2.16%
Average Essex County Tax Rate
1.92%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keene Valley, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12943 | 2.15% | 2.16% | 2.16% | 2.16% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Keene Valley, Essex County, New York
In Keene Valley, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Essex 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 Keene Valley, 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. The median home price in Keene Valley is $300,647, with tax bills ranging from $3,835 at the 25th percentile to $15,215 at the 90th percentile. The highest and lowest median tax bills are both $6,201, found in zip code 12943. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Keene Valley, Essex County, New York
Source: Ownwell
$49,622
$193,461
$337,300
Average Keene Valley Assessed Value
$300,647
Average Essex County Assessed Value
$151,489
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keene Valley, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12943 | $127,741 | $197,912 | $300,647 | $485,148 | $711,588 |
Source: Ownwell
Property Tax Bills Across Keene Valley, Essex County, New York
In Keene Valley, Essex County, NY, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of the property. Homeowners in Keene Valley can expect a wide range of tax bills, influenced by factors such as property size, location, and market conditions. For instance, the 25th percentile of tax bills is around $3,835, while the 75th percentile reaches up to $10,039, and the 90th percentile can be as high as $15,215. Compared to the national median property tax rate of 0.99%, Keene Valley homeowners might find their tax bills significantly higher, particularly in certain areas. The highest median tax bill in the region stands at $6,201. These property tax bills can have a substantial impact on homeowners, affecting their overall cost of living and financial planning. Understanding these factors is crucial for managing and anticipating annual property tax obligations.
Average Keene Valley Tax Bill
$6,201
Average Essex County Tax Bill
$2,966
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Keene Valley, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12943 | $2,161 | $3,835 | $6,201 | $10,039 | $15,215 |
Source: Ownwell