Philadelphia, New York Property Taxes
The median property tax rate in Philadelphia, NY is 1.66%, considerably higher than the national median of 0.99%, yet lower than the New York state median of 2.39%. With the median home value in Philadelphia at $127,353, the typical annual property tax bill reaches $2,287, which is below the national median of $2,690. Property taxes in Philadelphia 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 Philadelphia'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 Philadelphia 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
Philadelphia, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$2,114
$2,090
Ownwell’s Philadelphia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Philadelphia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Philadelphia 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 Philadelphia, New York
Property taxes in Philadelphia, New York, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philadelphia is 1.66%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Philadelphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philadelphia 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 Philadelphia's effective property tax rate to other counties in New York and the national median. For comparison, the 13673 zip code has both the highest and lowest median property tax rate of 1.66%. Understanding how these cities compare with Philadelphia 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 Philadelphia Tax Rate
1.66%
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 Philadelphia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13673 | 1.23% | 1.60% | 1.66% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Philadelphia, New York
In Philadelphia, 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 Philadelphia, 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 Philadelphia 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 $2287 in the 13673 zip code, while the lowest is also $2287 in the same zip code.
Average Philadelphia Assessed Value
$127,353
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 Philadelphia, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13673 | $43,111 | $80,648 | $127,353 | $177,890 | $239,391 |
Source: Ownwell
Property Tax Bills Across Philadelphia, New York
In Philadelphia, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by the city's assessment office. Factors such as location, property size, and improvements can influence the assessed value. For homeowners in Jefferson County, the median home price is $127,353. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,309 and the 75th percentile reaching $3,201. At the 90th percentile, homeowners might see tax bills as high as $4,009. These tax bills impact homeowners by contributing to the overall cost of owning a property. While Jefferson County's highest median tax bill is $2,287, it is essential to compare this with the national median property tax rate of 0.99% to understand the relative burden. Homeowners must budget for these taxes, which fund local services such as schools, public safety, and infrastructure.
Average Philadelphia Tax Bill
$2,287
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 Philadelphia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13673 | $731 | $1,309 | $2,287 | $3,201 | $4,009 |
Source: Ownwell