Gloversville, New York Property Taxes
The median property tax rate in Gloversville, NY is 2.19%, 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 Gloversville at $83,820, the typical annual property tax bill reaches $1,911, falling below the national median of $2,690. Property taxes in Gloversville 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 Gloversville'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 Gloversville 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
Gloversville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$1,836
$1,703
Ownwell’s Gloversville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gloversville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gloversville 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 Gloversville, New York
Property taxes in Gloversville, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gloversville is 2.19%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Gloversville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gloversville 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 Gloversville's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12078 has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these cities compare with Gloversville provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gloversville Tax Rate
2.19%
Average Fulton County Tax Rate
2.23%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gloversville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12078 | 1.03% | 1.85% | 2.19% | 2.71% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Gloversville, New York
In Gloversville, 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 Fulton 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 Gloversville, 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 Gloversville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gloversville are both $1,911, found in the zip code 12078.
Average Gloversville Assessed Value
$83,820
Average Fulton County Assessed Value
$117,346
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gloversville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12078 | $44,831 | $60,562 | $83,820 | $135,955 | $217,714 |
Source: Ownwell
Property Tax Bills Across Gloversville, New York
In Gloversville, located in Fulton County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Gloversville is $83,820, and the property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in this area experience a range of tax bills, with the 25th percentile paying around $1,201 and the 75th percentile facing bills as high as $3,111. For those in the 90th percentile, the tax bill can reach up to $4,856 annually. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. These taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Gloversville's rates may vary, impacting homeowners differently based on their property's assessed value and the specific tax rate applied. This system ensures that property taxes are proportionate to the value of the home, providing a fair method of funding for community services.
Average Gloversville Tax Bill
$1,911
Average Fulton County Tax Bill
$2,522
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Gloversville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12078 | $617 | $1,201 | $1,911 | $3,111 | $4,856 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Fulton Assessment Review Commission | |
| Website | sdg.fultoncountyny.gov |