Martinsburg, New York Property Taxes
The median property tax rate in Martinsburg, NY is 1.98%, considerably higher than both the national median of 0.99% and New York's state median of 2.39%. With the median home value in Martinsburg, the typical annual property tax bill reaches $1,570, which is below the national median of $2,690. Property taxes in Martinsburg 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 Martinsburg'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 Martinsburg 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
Martinsburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$1,669
$1,549
Ownwell’s Martinsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Martinsburg with just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Martinsburg to project your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value, determined by the county for tax purposes, takes into account any applicable exemptions.
Property Tax Rates Across Martinsburg, New York
Property taxes in Martinsburg, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martinsburg is 1.98%, significantly higher than the U.S. national median of 0.99%. Local government entities within Martinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martinsburg 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 Martinsburg's effective property tax rate to other counties in New York and the national median. For comparison, the 13404 zip code has the highest median property tax rate of 1.98%, while the 13404 zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Martinsburg provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martinsburg Tax Rate
1.98%
Average Lewis County Tax Rate
2.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martinsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13404 | 1.82% | 1.98% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Martinsburg, New York
In Martinsburg, 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 Lewis 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 Martinsburg, 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 Martinsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Martinsburg is $1,570, with zip code 13404 having both the highest and lowest median tax bills at the same value.
Average Martinsburg Assessed Value
$84,300
Average Lewis County Assessed Value
$102,300
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martinsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13404 | $36,200 | $57,600 | $84,300 | $103,800 | $119,940 |
Source: Ownwell
Property Tax Bills Across Martinsburg, New York
In Martinsburg, located in Lewis County, NY, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Martinsburg is $84,300. Homeowners in this area can expect their tax bills to vary significantly, depending on their property's assessed value. The tax bill for the 25th percentile is around $1,141, while those in the 75th percentile pay approximately $2,055. At the 90th percentile, tax bills can reach up to $2,360. These property taxes fund essential public services such as schools, infrastructure, and emergency services. With a median tax bill of $1,570, Martinsburg's tax rates are relatively high compared to the national median property tax rate of 0.99%, which impacts homeowners' financial planning and overall cost of living.
Average Martinsburg Tax Bill
$1,570
Average Lewis County Tax Bill
$2,429
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Martinsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13404 | $660 | $1,141 | $1,570 | $2,055 | $2,360 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Lewis Assessment Review Commission | |
| Website | lewiscountyny.gov |