Fonda, New York Property Taxes
The median property tax rate in Fonda, NY is 2.55%, 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 Fonda, the typical annual property tax bill reaches $3,096, exceeding the national median of $2,690. Property taxes in Fonda 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 Fonda'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 Fonda 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
Fonda, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.55%
Estimate Property Tax Bill
$3,215
$3,178
Ownwell’s Fonda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fonda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fonda 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 Fonda, New York
Property taxes in Fonda, 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 Fonda is 2.55%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fonda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fonda 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 Fonda's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the zip code 12068 has the highest median property tax rate of 2.55%, while the lowest median tax rate is also 2.55% in the same zip code. Understanding how these areas compare with Fonda provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fonda Tax Rate
2.55%
Average Montgomery County Tax Rate
2.37%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fonda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12068 | 1.82% | 2.18% | 2.55% | 2.77% | 3.09% |
Source: Ownwell
Property Tax Assessment Values Across Fonda, New York
In Fonda, NY, 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 Montgomery 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 Fonda, 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 Fonda 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 12068, with a median bill of $3,096, which is also the lowest median tax bill in the area.
Average Fonda Assessed Value
$126,062
Average Montgomery County Assessed Value
$107,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fonda, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12068 | $50,000 | $82,000 | $126,062 | $177,875 | $237,500 |
Source: Ownwell
Property Tax Bills Across Fonda, New York
In Fonda, Montgomery County, NY, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the local assessor’s office and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of similar properties in the area. In Fonda, the median home price is $126,062. Homeowners in the 25th percentile can expect a tax bill around $2,072, while those in the 75th percentile might see bills up to $4,334. At the 90th percentile, tax bills can reach approximately $5,855. These tax bills can significantly impact homeowners, affecting monthly mortgage payments and overall housing affordability. Comparatively, the median property tax rate in Fonda is higher than the national median of 0.99%, highlighting the importance of understanding local property tax obligations.
Average Fonda Tax Bill
$3,096
Average Montgomery County Tax Bill
$2,451
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fonda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12068 | $1,078 | $2,072 | $3,096 | $4,334 | $5,855 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Montgomery Assessment Review Commission | |
| Website | www.co.montgomery.ny.us |