Lake Placid, Essex County, New York Property Taxes
Median Lake Placid, NY effective property tax rate: 1.48%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Lake Placid, NY home value: $49,622
Median annual Lake Placid, NY tax bill: $573, $1,827 lower than the national median property tax bill of $2,400.
How are property taxes in Essex calculated?
Property taxes in Lake Placid, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lake Placid’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Placid, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Placid, Essex County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.48%
Estimate Property Tax Bill
$734
$682
Property Tax Rates Across Lake Placid, Essex County, New York
Local government entities determine property tax rates, which can vary significantly within a state. This is because each county annually estimates the budget necessary to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Votes and laws also play a role in this process, but essentially, this is how it works each year.
In Lake Placid, located in Essex County, NY, the effective property tax rate stands out when compared to other cities in New York and across the nation. The median property tax rate in New York is higher than the national median of 1.02%, and Lake Placid's rate reflects this trend. This means that homeowners in Lake Placid may face higher property tax bills compared to the national median property tax bill of $2400. Understanding these rates can help property owners anticipate their annual tax liabilities and explore potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Placid Tax Rate
1.48%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Essex County Tax Rate
1.92%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Placid, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12946 | 1.15% | 1.15% | 1.48% | 1.50% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Lake Placid, Essex County, New York
When examining property taxes in Lake Placid, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Essex County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Essex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake Placid. For example, the median home price in Lake Placid is $49,622, with tax bills ranging significantly across the county. Zip code 12946 has the highest median home price at $49,622.
Property Tax Assessment Values Across Lake Placid, Essex County, New York
Source: Ownwell
$49,622
$193,461
$337,300
Median Lake Placid Market Value
$49,622
Median Essex County Market Value
$151,489
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Placid, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12946 | $5,600 | $5,600 | $49,622 | $389,300 | $736,680 |
Source: Ownwell
Property Tax Bills Across Lake Placid, Essex County, New York
Median Lake Placid Tax Bill
$573
Median Essex County Tax Bill
$2,966
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Placid, Essex County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12946 | $84 | $84 | $573 | $5,175 | $9,588 |
Source: Ownwell