Copenhagen, New York Property Taxes
The median property tax rate in Copenhagen, NY is 1.89%, 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 Copenhagen, the typical annual property tax bill reaches $2,742, exceeding the national median of $2,690. Property taxes in Copenhagen 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 Copenhagen'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 Copenhagen 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
Copenhagen, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$2,750
$2,719
Ownwell’s Copenhagen Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Copenhagen. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Copenhagen to provide an accurate property tax bill estimate. This valuable resource helps you understand your potential tax liabilities, enabling better financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Jefferson County, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Copenhagen, New York
Property taxes in Copenhagen, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copenhagen is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within Copenhagen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copenhagen 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 Copenhagen's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13626 has both the highest and lowest median property tax rate of 1.89%. Understanding how these areas compare with Copenhagen provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copenhagen Tax Rate
1.89%
Average Jefferson County Tax Rate
1.81%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | 1.65% | 1.89% | 1.89% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Copenhagen, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Copenhagen, NY. 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 Jefferson 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 Copenhagen, 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 Copenhagen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,742 in the 13626 zip code, while the lowest median tax bill is also $2,742 in the same zip code.
Average Copenhagen Assessed Value
$145,503
Average Jefferson County Assessed Value
$134,468
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | $49,090 | $87,016 | $145,503 | $201,250 | $275,730 |
Source: Ownwell
Property Tax Bills Across Copenhagen, New York
In Copenhagen, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For example, with a median home price of $145,503, homeowners can expect varying tax bills depending on the specific assessment and local tax rate applied. Several factors influence the final tax bill, including the property's location within Jefferson County, any applicable exemptions, and the specific tax rate set by local authorities. The 25th percentile tax bill in Copenhagen is around $1,586, while those in the 75th percentile pay approximately $3,758. The highest tax bills, in the 90th percentile, can reach up to $4,854 annually. Compared to the national median property tax rate of 0.99%, Copenhagen's tax rates reflect the local economic conditions and funding needs. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Copenhagen Tax Bill
$2,742
Average Jefferson County Tax Bill
$2,407
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Copenhagen, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13626 | $922 | $1,586 | $2,742 | $3,758 | $4,854 |
Source: Ownwell