Oak Hill, New York Property Taxes
The median property tax rate in Oak Hill, NY is 2.04%, 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 Oak Hill, the typical annual property tax bill reaches $3,523, exceeding the national median of $2,690. Property taxes in Oak Hill 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 Oak Hill'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 Oak Hill 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
Oak Hill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$3,621
$3,580
Ownwell’s Oak Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Hill 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 Oak Hill, New York
Property taxes in Oak Hill, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Hill is 2.04%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Oak Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Hill 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 Oak Hill's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12460 has the highest median property tax rate of 2.04%, while the lowest median tax rate is also 2.04%. Understanding how these cities compare with Oak Hill 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 Oak Hill Tax Rate
2.04%
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 Oak Hill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12460 | 1.90% | 2.04% | 2.04% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Oak Hill, New York
In Oak Hill, 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 Greene 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 Oak Hill, 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 Oak Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Oak Hill is $3,523 in zip code 12460, while the lowest median tax bill is also $3,523 in the same zip code.
Average Oak Hill Assessed Value
$177,500
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 Oak Hill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12460 | $79,580 | $116,700 | $177,500 | $228,400 | $305,800 |
Source: Ownwell
Property Tax Bills Across Oak Hill, New York
Property tax bills in Oak Hill, located in Greene County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. In Oak Hill, the median home price stands at $177,500. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Homeowners in Oak Hill can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $2,381, while the 75th percentile tax bill is $4,370, with the 90th percentile reaching up to $6,261. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, the tax rates in Oak Hill can result in higher bills due to the local assessment practices and the specific needs of the community.
Average Oak Hill Tax Bill
$3,523
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 Oak Hill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12460 | $1,678 | $2,381 | $3,523 | $4,370 | $6,261 |
Source: Ownwell