Hamilton County, New York Property Taxes
The median property tax rate in Hamilton County is 0.85%, which is lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Hamilton County, the typical annual property tax bill is $1,483, significantly less than the national median of $2,690. Property taxes in Hamilton County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Hamilton County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lake Pleasant or another part of Hamilton County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hamilton County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,511
$1,402
Ownwell’s Hamilton County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hamilton County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Hamilton County to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you make informed financial decisions. For more localized trends and insights, scroll down to navigate to city-specific informational pages. Your property's assessed value is determined by the county for tax calculations and considers any exemptions you may have.
Property Tax Rates Across Hamilton County, New York
Property taxes in Hamilton County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hamilton County is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Hamilton County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hamilton County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Hamilton County's effective property tax rate with other areas in New York and the national median. For comparison, the city of Long Lake has one of the higher property tax rates in New York at 0.91%, while the city of Speculator boasts one of the lowest at 0.53%. Analyzing how Hamilton County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hamilton County Tax Rate
0.85%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamilton County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Mountain Lake | 0.86% | 0.86% | 0.86% | 0.86% | 0.91% |
| Caroga Lake | 0.58% | 0.58% | 0.58% | 1.08% | 1.62% |
| Cold Brook | 0.70% | 0.76% | 0.76% | 0.76% | 0.76% |
| Hoffmeister | 0.76% | 0.76% | 0.76% | 0.76% | 0.90% |
| Indian Lake | 0.86% | 0.86% | 0.86% | 1.03% | 1.49% |
| Inlet | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| Lake Pleasant | 0.58% | 0.79% | 0.79% | 0.79% | 0.79% |
| Long Lake | 0.68% | 0.81% | 0.91% | 0.91% | 0.95% |
| Northville | 0.67% | 0.67% | 0.85% | 0.85% | 1.38% |
| Piseco | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
| Raquette Lake | 0.67% | 0.67% | 0.68% | 0.68% | 0.80% |
| Sabael | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
| Speculator | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
| Wells | 0.83% | 0.83% | 0.83% | 0.83% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Hamilton County, New York
In Hamilton County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hamilton County Appraisal District. The assessed value, however, 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. Assessment notices in Hamilton County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Hamilton County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Inlet has the highest median tax bill at $2,237, while Caroga Lake has the lowest at $426.
Property Tax Assessment Values Across Hamilton County, New York
Source: Ownwell
$54,400
$197,200
$340,000
Average Hamilton County Assessed Value
$177,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hamilton County, New York
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Mountain Lake | $79,180 | $116,100 | $208,100 | $405,700 | $743,520 |
| Caroga Lake | $31,550 | $44,975 | $72,200 | $94,125 | $129,100 |
| Cold Brook | $43,340 | $56,675 | $74,600 | $142,625 | $186,330 |
| Hoffmeister | $23,820 | $32,100 | $54,400 | $92,700 | $136,880 |
| Indian Lake | $64,750 | $101,675 | $167,250 | $278,225 | $431,500 |
| Inlet | $50,600 | $114,850 | $243,600 | $384,775 | $538,160 |
| Lake Pleasant | $72,550 | $117,675 | $198,950 | $411,100 | $603,140 |
| Long Lake | $79,400 | $120,075 | $235,950 | $464,025 | $656,100 |
| Northville | $43,590 | $67,450 | $113,700 | $180,575 | $244,910 |
| Piseco | $83,300 | $177,800 | $340,000 | $500,000 | $696,780 |
| Raquette Lake | $51,140 | $117,175 | $286,600 | $446,200 | $562,340 |
| Sabael | $92,300 | $147,100 | $242,600 | $443,300 | $509,100 |
| Speculator | $73,120 | $111,900 | $178,200 | $380,100 | $620,240 |
| Wells | $53,760 | $78,925 | $129,050 | $191,675 | $270,080 |
Source: Ownwell
Property Tax Bills Across Hamilton County, New York
In Hamilton County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the property's market value. Once the assessed value is established, local tax rates, also known as millage rates, are applied to calculate the tax bill. These rates can vary depending on the specific needs of the community, such as funding for schools, infrastructure, and public services. Homeowners in Hamilton County experience a wide range of tax bills. For instance, the 25th percentile tax bill is around $809, while the 75th percentile reaches $2,722. At the highest end, the 90th percentile tax bill can be as much as $4,298. The city of Inlet has the highest median tax bill at $2,237, whereas Caroga Lake has the lowest at $426. These variations significantly affect homeowners, influencing their financial planning and the overall affordability of owning property in different parts of the county.
Average Hamilton County Tax Bill
$1,483
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamilton County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Mountain Lake | $690 | $999 | $1,863 | $3,557 | $6,419 |
| Caroga Lake | $227 | $287 | $426 | $776 | $1,163 |
| Cold Brook | $308 | $423 | $528 | $801 | $1,274 |
| Hoffmeister | $191 | $251 | $456 | $762 | $1,242 |
| Indian Lake | $607 | $1,070 | $1,634 | $2,689 | $3,960 |
| Inlet | $474 | $1,082 | $2,237 | $3,597 | $5,050 |
| Lake Pleasant | $586 | $907 | $1,565 | $3,232 | $4,739 |
| Long Lake | $681 | $1,070 | $1,995 | $3,922 | $5,790 |
| Northville | $371 | $546 | $928 | $1,447 | $2,014 |
| Piseco | $445 | $989 | $1,920 | $2,848 | $4,017 |
| Raquette Lake | $405 | $863 | $2,024 | $3,117 | $4,142 |
| Sabael | $756 | $1,260 | $2,077 | $3,797 | $4,367 |
| Speculator | $396 | $624 | $994 | $2,131 | $3,640 |
| Wells | $465 | $672 | $1,114 | $1,675 | $2,338 |
Source: Ownwell