Kings County Property Taxes
The median property tax rate in Kings County is 0.67%, which is significantly lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Kings County at $1,094,000, the typical annual property tax bill reaches $6,747, which far exceeds the national median of $2,690. Property taxes in Kings County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Kings County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Brooklyn or another part of Kings County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kings County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$7,330
$7,247
Ownwell's Kings County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kings County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Kings County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Kings County, New York
Property taxes in Kings County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Kings County is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Kings County set these rates annually, and they can vary significantly between different areas within the county. Each year, Kings County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Kings County's effective property tax rate with other areas and the national median. For comparison, the city of Ozone Park has one of the higher property tax rates in the region at 0.73%, while the city of Brooklyn boasts one of the lowest at 0.67%. Analyzing how Kings County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Kings County Tax Rate
0.67%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kings County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brooklyn | 0.23% | 0.40% | 0.67% | 0.88% | 3.15% |
| Ozone Park | 0.65% | 0.67% | 0.73% | 0.84% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Kings County, New York
In Kings County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Kings County Appraisal District. The assessed value, however, 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 Kings County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. Notably, Brooklyn has the highest median tax bill at $6,747, while Ozone Park has the lowest median tax bill at $6,030. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Kings County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Kings County, New York
Source: Ownwell
$255,420
$1,308,710
$2,362,000
Average Kings County Assessed Value
$1,094,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kings County, New York
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brooklyn | $130,508 | $618,167 | $1,094,000 | $1,963,000 | $5,645,100 |
| Ozone Park | $746,600 | $813,000 | $834,000 | $885,000 | $926,000 |
Source: Ownwell
Property Tax Bills Across Kings County, New York
In Kings County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners, several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by the county. The median home price in Kings County is $1,094,000, resulting in a wide range of tax bills. For example, the 25th percentile tax bill is $4,676, while the 75th percentile tax bill reaches $9,153. At the 90th percentile, homeowners can expect to pay around $12,568. Brooklyn holds the highest median tax bill at $6,747, whereas Ozone Park has the lowest at $6,030. Compared to the national median property tax rate of 0.99%, Kings County homeowners experience higher tax bills, reflecting the region's higher property values. This impacts homeowners by increasing their annual financial obligations, which can be significant depending on the property's assessed value.
Average Kings County Tax Bill
$6,747
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Kings County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brooklyn | $2,587 | $4,676 | $6,747 | $9,153 | $12,568 |
| Ozone Park | $5,922 | $5,987 | $6,030 | $6,597 | $7,901 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Links | |
|---|---|
| Kings Assessment Review Commission | |
| Website | propertyinformationportal.nyc.gov |