Port Henry, New York Property Taxes
The median property tax rate in Port Henry, NY is 2.88%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Port Henry at $86,915, the typical annual property tax bill amounts to $2,421, which is still below the national median of $2,690. Property taxes in Port Henry are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Port Henry's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Port Henry or another part of Essex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Port Henry, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.88%
Estimate Property Tax Bill
$2,503
$2,323
Ownwell’s Port Henry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Henry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Henry 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 Port Henry, New York
Property taxes in Port Henry, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Henry is 2.88%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Port Henry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Henry 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 Port Henry's effective property tax rate to other counties in New York and the national median. For comparison, the 12974 zip code has the highest median property tax rate of 2.88%, while the same zip code has the lowest median tax rate of 2.88%. Understanding how these cities compare with Port Henry 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 Port Henry Tax Rate
2.88%
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 Port Henry, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12974 | 2.35% | 2.83% | 2.88% | 2.88% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Port Henry, New York
In Port Henry, 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 Essex County assessor 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 Port Henry, 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. For instance, the median home price in Port Henry is $86,915, with tax bills ranging from $1,633 at the 25th percentile to $4,546 at the 90th percentile. Notably, the zip code 12974 has the highest and lowest median tax bill of $2,421. 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 Port Henry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Port Henry Assessed Value
$86,915
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 Port Henry, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12974 | $36,851 | $62,021 | $86,915 | $127,979 | $164,361 |
Source: Ownwell
Property Tax Bills Across Port Henry, New York
In Port Henry, located in Essex County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the tax rate set by local taxing authorities to calculate the annual property tax bill. For homeowners in Port Henry, the median home price is $86,915. Property tax bills can vary significantly, with the 25th percentile paying around $1,633 annually, while those in the 75th percentile pay approximately $3,532. At the 90th percentile, tax bills can reach up to $4,546. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Port Henry homeowners may find their tax rates relatively high, reflecting the region's commitment to maintaining robust community services. Understanding these factors helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Port Henry Tax Bill
$2,421
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 Port Henry, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12974 | $897 | $1,633 | $2,421 | $3,532 | $4,546 |
Source: Ownwell