Clockville, New York Property Taxes
The median property tax rate in Clockville, NY is 4.98%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Clockville at $43,518, the typical annual property tax bill reaches $2,122, which is below the national median of $2,690. Property taxes in Clockville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Clockville'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 Clockville 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
Clockville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.98%
Estimate Property Tax Bill
$2,167
$2,143
Ownwell’s Clockville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clockville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clockville 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 Madison County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Clockville, New York
Property taxes in Clockville, 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 Clockville is 4.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Clockville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clockville 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 Clockville's effective property tax rate to other counties in New York and the national median. For comparison, the 13043 zip code has both the highest and lowest median property tax rate of 4.98%. Understanding how these areas compare with Clockville provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clockville Tax Rate
4.98%
Average Madison County Tax Rate
3.06%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clockville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13043 | 4.66% | 4.78% | 4.98% | 5.18% | 5.30% |
Source: Ownwell
Property Tax Assessment Values Across Clockville, New York
In Clockville, 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 Madison 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 Clockville, 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 Clockville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 13043, at $2,122, which is significantly above the national median property tax rate of 0.99%.
Average Clockville Assessed Value
$43,518
Average Madison County Assessed Value
$136,471
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clockville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13043 | $34,383 | $37,809 | $43,518 | $49,228 | $52,654 |
Source: Ownwell
Property Tax Bills Across Clockville, New York
In Clockville, Madison County, NY, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For example, with a median home price of $43,518, homeowners in Clockville can expect their property tax bills to fall within a range, typically from the 25th percentile at $1,924 to the 75th percentile at $2,320, with the 90th percentile reaching up to $2,439. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the higher tax rates in the region. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, your tax bill. This financial obligation can impact homeowners' budgets, making it crucial to understand how these taxes are calculated and to explore any available exemptions or appeal options to potentially lower the tax burden.
Average Clockville Tax Bill
$2,122
Average Madison County Tax Bill
$4,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Clockville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13043 | $1,805 | $1,924 | $2,122 | $2,320 | $2,439 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Madison Assessment Review Commission | |
| Website | property.madisoncounty.ny.gov |