Freeport, New York Property Taxes
The median property tax rate in Freeport, NY is 1.96%, 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 Freeport at $401,000, the typical annual property tax bill reaches $7,726, significantly exceeding the national median of $2,690. Property taxes in Freeport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Freeport'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 Freeport or another part of Nassau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Freeport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$7,860
$7,293
$1,148
Average Tax Savings
Ownwell’s Freeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freeport to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Freeport. 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 Freeport, New York
Property taxes in Freeport, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeport is 1.96%, significantly higher than the U.S. national median of 0.99%. Local government entities within Freeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freeport 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 Freeport's effective property tax rate to other counties in New York and the national median. For comparison, the 11520 zip code has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Freeport provides valuable insights into the varying tax landscape across Nassau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeport Tax Rate
1.96%
Average Nassau County Tax Rate
2.10%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11520 | 1.35% | 1.69% | 1.96% | 2.18% | 2.32% |
Source: Ownwell
$1,148
Average Freeport Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Freeport, New York
In Freeport, 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 Nassau County Assessor 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 Freeport, 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. The median home price in Freeport is $401,000, with tax bills ranging from $6,248 at the 25th percentile to $10,601 at the 90th percentile. The zip code 11520 has the highest and lowest median tax bill at $7,726. 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 Freeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Freeport Assessed Value
$401,000
Average Nassau County Assessed Value
$537,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11520 | $321,000 | $361,000 | $401,000 | $452,000 | $513,000 |
Source: Ownwell
$1,148
Average Freeport Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Freeport, New York
In Freeport, Nassau County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Homeowners in Freeport face a median home price of $401,000, with property tax bills ranging from $6,248 at the 25th percentile to $10,601 at the 90th percentile. These tax bills are influenced by various factors, including property size, location, and market conditions. With the highest and lowest median tax bills both at $7,726 in the 11520 zip code, Freeport's property tax rate significantly exceeds the national median of 0.99%. High property taxes can be a financial burden for homeowners, but that's where Ownwell steps in. By providing expert property tax appeal and exemption services, Ownwell helps homeowners ensure their properties are fairly assessed. This can lead to substantial savings on tax bills, offering relief and financial stability. Trust Ownwell to navigate the complexities of property taxes and secure the best possible outcomes for your property tax obligations.
Average Freeport Tax Bill
$7,726
Average Nassau County Tax Bill
$11,613
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Freeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11520 | $4,551 | $6,248 | $7,726 | $9,115 | $10,601 |
Source: Ownwell
$1,148
Average Freeport Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates | |
|---|---|
| Appeal Deadline | March 3 |
Links | |
|---|---|
| Nassau Assessment Review Commission | |
| Website | lrv.nassaucountyny.gov |
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