Fort Covington, New York Property Taxes
The median property tax rate in Fort Covington, NY is 1.90%, 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 Fort Covington at $77,013, the typical annual property tax bill reaches $1,478, exceeding the national median of $2,690. Property taxes in Fort Covington 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 Fort Covington'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 Fort Covington 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
Fort Covington, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$1,463
$1,447
Ownwell’s Fort Covington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Covington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Covington 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 Fort Covington, New York
Property taxes in Fort Covington, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Covington is 1.90%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fort Covington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Covington 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 Fort Covington's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 12937 has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these cities compare with Fort Covington provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Covington Tax Rate
1.90%
Average Franklin County Tax Rate
2.45%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Covington, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12937 | 1.82% | 1.90% | 1.90% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Fort Covington, New York
In Fort Covington, 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 Franklin 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 Fort Covington, 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 Fort Covington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12937 has both the highest and lowest median tax bill, amounting to $1,478, which provides a clear benchmark for property owners in the area.
Property Tax Assessment Values Across Fort Covington, New York
Source: Ownwell
$42,262
$281,378
$520,494
Average Fort Covington Assessed Value
$77,013
Average Franklin County Assessed Value
$100,730
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Covington, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12937 | $25,065 | $49,481 | $77,013 | $116,883 | $169,429 |
Source: Ownwell
Property Tax Bills Across Fort Covington, New York
In Fort Covington, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by local taxing authorities. The median home price in Fort Covington is $77,013, which provides a baseline for understanding property tax bills in the area. Tax bills vary significantly, with the 25th percentile at $968 and the 75th percentile reaching $2,194. For those in the 90th percentile, tax bills can climb to $3,154. The highest and lowest median tax bills in the area are both $1,478, occurring in the zip code 12937. These figures highlight the range and potential impact on homeowners, emphasizing the importance of accurate property assessments. Compared to the national median property tax rate of 0.99%, Fort Covington's tax structure can be seen as moderately variable, affecting homeowners differently based on their property's assessed value.
Average Fort Covington Tax Bill
$1,478
Average Franklin County Tax Bill
$2,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Covington, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12937 | $478 | $968 | $1,478 | $2,194 | $3,154 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Franklin Assessment Review Commission | |
| Website | maps.dancgis.org |