Fultonville, New York Property Taxes
The median property tax rate in Fultonville, NY is 2.63%, 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 Fultonville at $131,646, the typical annual property tax bill reaches $3,272, exceeding the national median of $2,690. Property taxes in Fultonville 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 Fultonville'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 Fultonville 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
Fultonville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.63%
Estimate Property Tax Bill
$3,462
$3,423
Ownwell’s Fultonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fultonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fultonville 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 Fultonville, New York
Property taxes in Fultonville, 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 Fultonville is 2.63%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fultonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fultonville 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 Fultonville's effective property tax rate to other counties in New York and the national median. For comparison, the 12072 zip code has the highest median property tax rate of 2.63%, while the same zip code also has the lowest median tax rate of 2.63%. Understanding how these cities compare with Fultonville 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 Fultonville Tax Rate
2.63%
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 Fultonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12072 | 1.81% | 2.22% | 2.63% | 2.86% | 3.28% |
Source: Ownwell
Property Tax Assessment Values Across Fultonville, New York
In Fultonville, 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 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 Fultonville, 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 Fultonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,272, found in zip code 12072.
Average Fultonville Assessed Value
$131,646
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 Fultonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12072 | $51,107 | $86,891 | $131,646 | $185,106 | $244,681 |
Source: Ownwell
Property Tax Bills Across Fultonville, New York
In Fultonville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the tax rate, set by local government authorities, is applied to calculate the annual property tax bill. Several factors influence the tax bill, including changes in the market value of homes and local budgetary needs. In Fultonville, the median home price is $131,646. Homeowners in the 25th percentile pay approximately $2,072 annually, while those in the 75th percentile face a tax bill of about $4,959. At the 90th percentile, the tax bill can reach up to $6,085. These taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Fultonville's property taxes can significantly impact homeowners, particularly those with higher-valued properties.
Average Fultonville Tax Bill
$3,272
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 Fultonville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12072 | $1,046 | $2,072 | $3,272 | $4,959 | $6,085 |
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 |