Paul Smiths, Franklin County, New York Property Taxes
Median Paul Smiths, NY effective property tax rate: 1.52%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Paul Smiths, NY home value: $191,756
Median annual Paul Smiths, NY tax bill: $2,907, $507 higher than the national median property tax bill of $2,400.
How are property taxes in Franklin calculated?
Property taxes in Paul Smiths, 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 Paul Smiths’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Paul Smiths, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Paul Smiths, Franklin County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.52%
Estimate Property Tax Bill
$2,915
$2,705
Ownwell’s Paul Smiths Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paul Smiths with just two data points.
By entering your property's estimated assessed value, our calculator applies Paul Smiths’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Franklin County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Paul Smiths, Franklin County, New York
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Paul Smiths’ effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S.
Paul Smiths, located in Franklin County, has a median property tax rate of 1.52%, which is notably higher than the national median of 1.02%. This means homeowners in Paul Smiths may face higher property tax bills compared to many areas nationwide. Interestingly, the rate in Paul Smiths is the same across Franklin County, making it both the highest and lowest within the county. Understanding these rates can help homeowners make informed decisions about property investment and financial planning.
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 Paul Smiths Tax Rate
1.52%
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 Franklin County Tax Rate
2.45%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Paul Smiths, Franklin County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12970 | 1.51% | 1.52% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Paul Smiths, Franklin County, New York
When examining property taxes in Paul Smiths, 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 Franklin 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 Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Paul Smiths.
For example, the median home price in Paul Smiths is $191,756, with tax bills ranging significantly across the county. Zip code 12970 has the highest median home price at $191,756.
Property Tax Assessment Values Across Paul Smiths, Franklin County, New York
Source: Ownwell
$42,262
$149,833
$257,404
Median Paul Smiths Market Value
$191,756
Median Franklin County Market Value
$100,730
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Paul Smiths, Franklin County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12970 | $70,321 | $131,450 | $191,756 | $491,603 | $1,355,969 |
Source: Ownwell
Property Tax Bills Across Paul Smiths, Franklin County, New York
In Paul Smiths, Franklin County, NY, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in this area face a median property tax bill of $2,907, slightly above the national median of $2,400. Factors such as property location, size, and condition influence the assessed value, which in turn impacts the tax bill. For instance, tax bills in the 25th percentile are around $2,001, while those in the 75th percentile climb to $7,483, highlighting the variance based on property characteristics.
High property taxes can pose a significant financial burden on homeowners, making it crucial to ensure that assessments are fair and accurate. This is where Ownwell can make a difference. By providing expert property tax appeal services, Ownwell helps homeowners challenge over-assessments, potentially reducing their tax bills. With a deep understanding of local tax regulations, Ownwell's team works to ensure homeowners pay only their fair share, offering peace of mind and potential savings.
Median Paul Smiths Tax Bill
$2,907
Median Franklin County Tax Bill
$2,460
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Paul Smiths, Franklin County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12970 | $1,063 | $2,001 | $2,907 | $7,483 | $20,439 |
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 |