Indian Lake, Hamilton County, New York Property Taxes
Median Indian Lake, NY effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Indian Lake, NY home value: $167,250
Median annual Indian Lake, NY tax bill: $1,634, $766 lower than the national median property tax bill of $2,400.
How are property taxes in Hamilton calculated?
Property taxes in Indian Lake, 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 Indian Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Indian Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Indian Lake, Hamilton County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.86%
Estimate Property Tax Bill
$1,438
$1,335
Property Tax Rates Across Indian Lake, Hamilton County, New York
Local government entities set property tax rates, and these can vary significantly within a state. This is because each county annually estimates the budget required to provide public services and divides that figure by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and legislation play a role in setting tax rates and budgets, this is essentially the process followed each year.
In Indian Lake, located in Hamilton County, NY, the effective property tax rate is a crucial metric for homeowners to consider. When comparing Indian Lake’s tax rate to other cities in New York and the U.S., it’s notable that the local rate aligns closely with the state median yet remains below the national average. The national median property tax rate is 1.02%, with an average bill of $2,400, which serves as a benchmark for comparison. Understanding these rates can provide valuable insights for property owners assessing their financial obligations and potential savings through tax appeal or exemption services.
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 Indian Lake Tax Rate
0.86%
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 Hamilton County Tax Rate
0.85%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Indian Lake, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12842 | 0.86% | 0.86% | 0.86% | 1.03% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Indian Lake, Hamilton County, New York
When examining property taxes in Indian Lake, 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 Hamilton 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 Hamilton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Indian Lake.
For example, the median home price in Indian Lake is $167,250, with tax bills ranging significantly across the county. Zip code 12842 has the highest median home price at $167,250.
Property Tax Assessment Values Across Indian Lake, Hamilton County, New York
Source: Ownwell
$54,400
$197,200
$340,000
Median Indian Lake Market Value
$167,250
Median Hamilton County Market Value
$177,800
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Indian Lake, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12842 | $64,750 | $101,675 | $167,250 | $278,225 | $431,500 |
Source: Ownwell
Property Tax Bills Across Indian Lake, Hamilton County, New York
Median Indian Lake Tax Bill
$1,634
Median Hamilton County Tax Bill
$1,483
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Indian Lake, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12842 | $607 | $1,070 | $1,634 | $2,689 | $3,960 |
Source: Ownwell