Lake Pleasant, Hamilton County, New York Property Taxes
The median property tax rate in Lake Pleasant, NY is 0.79%, notably lower than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $198,950 in Lake Pleasant, the typical annual property tax bill amounts to $1,565, which is significantly below the national median of $2,690. Property taxes in Lake Pleasant are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lake Pleasant'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 Lake Pleasant 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
Lake Pleasant, Hamilton County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,572
$1,458
Ownwell’s Lake Pleasant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Pleasant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Pleasant 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 Lake Pleasant, Hamilton County, New York
Property taxes in Lake Pleasant, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Pleasant is 0.79%, lower than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lake Pleasant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Pleasant 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 Lake Pleasant's effective property tax rate to other counties in New York and the national median. For comparison, the 12108 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Lake Pleasant provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Pleasant Tax Rate
0.79%
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 Lake Pleasant, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12108 | 0.58% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Lake Pleasant, Hamilton County, New York
In Lake Pleasant, 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 Hamilton 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 Lake Pleasant, 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. The median home price in Lake Pleasant is $198,950, with tax bills ranging from $907 at the 25th percentile to $4,739 at the 90th percentile. The zip code 12108 has the highest and lowest median tax bill at $1,565. By understanding 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 Lake Pleasant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lake Pleasant, Hamilton County, New York
Source: Ownwell
$54,400
$197,200
$340,000
Average Lake Pleasant Assessed Value
$198,950
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 Lake Pleasant, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12108 | $72,550 | $117,675 | $198,950 | $411,100 | $603,140 |
Source: Ownwell
Property Tax Bills Across Lake Pleasant, Hamilton County, New York
In Lake Pleasant, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions or deductions play a significant role in this calculation. Homeowners in Lake Pleasant, located in Hamilton County, experience a range of property tax bills. For instance, at the 25th percentile, the tax bill is around $907, while at the 75th percentile, it rises to approximately $3,232. The highest median tax bill in the area is $1,565, which is consistent across the zip code 12108. These property taxes can significantly impact homeowners, influencing their overall cost of living and potentially affecting their long-term financial planning. Compared to the national median property tax rate of 0.99%, Lake Pleasant's rates reflect the unique economic factors of the region.
Average Lake Pleasant Tax Bill
$1,565
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 Lake Pleasant, Hamilton County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12108 | $586 | $907 | $1,565 | $3,232 | $4,739 |
Source: Ownwell