New Baltimore, New York Property Taxes
The median property tax rate in New Baltimore, NY, is 2.48%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $216,396 in New Baltimore, the typical annual property tax bill reaches $5,115, far exceeding the national median of $2,690. Property taxes in New Baltimore are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Baltimore'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 New Baltimore or another part of Greene County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Baltimore, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.48%
Estimate Property Tax Bill
$5,367
$5,306
Ownwell’s New Baltimore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Baltimore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Baltimore 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 New Baltimore, New York
Property taxes in New Baltimore, New York, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in New Baltimore is 2.48%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within New Baltimore set these rates annually, and they can vary considerably across different neighborhoods. Each year, New Baltimore 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 New Baltimore's effective property tax rate to other counties in New York and the national median. For comparison, the 12124 zip code has the highest median property tax rate of 2.48%, while the same zip code also has the lowest median tax rate of 2.48%. Understanding how these cities compare with New Baltimore provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Baltimore Tax Rate
2.48%
Average Greene County Tax Rate
2.04%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Baltimore, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12124 | 1.96% | 2.22% | 2.48% | 2.54% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across New Baltimore, New York
In New Baltimore, 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 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 New Baltimore, 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 New Baltimore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $216,396, with tax bills ranging from $3,659 at the 25th percentile to $7,078 at the 75th percentile, and the highest median tax bill recorded is $5,115 in the 12124 zip code.
Average New Baltimore Assessed Value
$216,396
Average Greene County Assessed Value
$210,370
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Baltimore, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12124 | $123,531 | $167,748 | $216,396 | $308,649 | $457,333 |
Source: Ownwell
Property Tax Bills Across New Baltimore, New York
In New Baltimore, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors, including property size, location, and market conditions, influence the assessed value. For instance, in Greene County, where New Baltimore is located, the median home price is $216,396. Homeowners can expect tax bills ranging from the 25th percentile at $3,659 to the 75th percentile at $7,078, with the 90th percentile reaching up to $11,651. Comparatively, the national median property tax rate is 0.99%. Homeowners in New Baltimore may find their tax burden higher or lower depending on their property's assessed value and the specific local tax rate. This variability in property tax bills can significantly impact homeowners' annual financial planning, making it crucial for them to understand how their tax obligations are calculated and managed.
Average New Baltimore Tax Bill
$5,115
Average Greene County Tax Bill
$4,183
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across New Baltimore, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12124 | $2,191 | $3,659 | $5,115 | $7,078 | $11,651 |
Source: Ownwell