Natural Bridge, New York Property Taxes
The median property tax rate in Natural Bridge, NY is 1.97%, 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 Natural Bridge at $82,450, the typical annual property tax bill reaches $1,819, exceeding the national median of $2,690. Property taxes in Natural Bridge 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 Natural Bridge'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 Natural Bridge 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
Natural Bridge, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$1,624
$1,606
Ownwell’s NATURAL BRIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NATURAL BRIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NATURAL BRIDGE 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 Natural Bridge, New York
Property taxes in Natural Bridge, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Natural Bridge is 1.97%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Natural Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Natural Bridge 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 Natural Bridge's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the zip code 13665 has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these areas compare with Natural Bridge 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 Natural Bridge Tax Rate
1.97%
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 Natural Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13665 | 1.82% | 1.93% | 1.97% | 2.08% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Natural Bridge, New York
In Natural Bridge, 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. In Natural Bridge, 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 Natural Bridge 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 $1819 in the 13665 zip code, while the lowest is also $1819 in the same zip code.
Property Tax Assessment Values Across Natural Bridge, New York
Source: Ownwell
$31,915
$230,779
$429,643
Average Natural Bridge Assessed Value
$82,450
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 Natural Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13665 | $27,750 | $45,000 | $82,450 | $120,250 | $160,530 |
Source: Ownwell
Property Tax Bills Across Natural Bridge, New York
In Natural Bridge, Jefferson County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, and this percentage can vary based on local regulations. For homeowners in Natural Bridge, the median home price stands at $82,450. Property taxes can vary widely; for instance, the 25th percentile tax bill is $1,097, while the 75th percentile reaches $2,364, and the 90th percentile can be as high as $3,007. These tax bills are influenced by several factors, including the home's assessed value, local budget requirements, and the tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, homeowners in Natural Bridge may find their tax bills relatively higher or lower depending on these variables. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Natural Bridge Tax Bill
$1,819
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 Natural Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13665 | $603 | $1,097 | $1,819 | $2,364 | $3,007 |
Source: Ownwell