Felts Mills, New York Property Taxes
The median property tax rate in Felts Mills, NY is 2.10%, 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 Felts Mills at $111,939, the typical annual property tax bill reaches $2,276, which is below the national median of $2,690. Property taxes in Felts Mills 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 Felts Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Felts Mills 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
Felts Mills, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.1%
Estimate Property Tax Bill
$2,351
$2,324
Ownwell’s Felts Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Felts Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Felts Mills 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 Felts Mills, New York
Property taxes in Felts Mills, 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 Felts Mills is 2.10%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Felts Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Felts Mills 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 Felts Mills' effective property tax rate to other counties in New York and the national median. For comparison, the 13638 zip code has the highest median property tax rate of 2.10%, while the same zip code also has the lowest median tax rate of 2.10%. Understanding how these cities compare with Felts Mills 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 Felts Mills Tax Rate
2.10%
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 Felts Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13638 | 1.87% | 2.00% | 2.10% | 2.26% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Felts Mills, New York
In Felts Mills, 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 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. Assessment notices in Felts Mills 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 Felts Mills is $111,939, with tax bills ranging from $1,803 at the 25th percentile to $3,628 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 13638 has the highest and lowest median tax bill, both at $2,276. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Felts Mills Assessed Value
$111,939
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 Felts Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13638 | $50,959 | $81,531 | $111,939 | $139,592 | $183,387 |
Source: Ownwell
Property Tax Bills Across Felts Mills, New York
In Felts Mills, located in Jefferson County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $111,939, homeowners can expect their property tax bill to vary significantly. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in Felts Mills face a range of property tax bills. At the 25th percentile, the tax bill is around $1,803, while at the 75th percentile, it rises to approximately $2,825. For those at the 90th percentile, the tax bill can be as high as $3,628. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners to understand how their local rates and assessed values impact their overall tax obligations. This variation in tax bills can significantly affect household budgets and long-term financial planning.
Average Felts Mills Tax Bill
$2,276
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 Felts Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13638 | $1,226 | $1,803 | $2,276 | $2,825 | $3,628 |
Source: Ownwell