Kings Point, New York Property Taxes
The median property tax rate in Kings Point, NY is 1.37%, 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 Kings Point at $3,944,500, the typical annual property tax bill reaches $52,630, far exceeding the national median of $2,690. Property taxes in Kings Point 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 Kings Point'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 Kings Point 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
Kings Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$54,040
$50,147
$1,148
Average Tax Savings
Ownwell’s Kings Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kings Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kings Point 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 Kings Point. 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 Kings Point, New York
Property taxes in Kings Point, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kings Point is 1.37%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kings Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kings Point 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 Kings Point's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 11024 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Kings Point 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 Kings Point Tax Rate
1.37%
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 Kings Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11024 | 1.18% | 1.28% | 1.37% | 1.44% | 1.67% |
Source: Ownwell
$1,148
Average Kings Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Kings Point, New York
In Kings Point, 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 Department of Assessment 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 Kings Point, 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 Kings Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kings Point is $52,630 in the 11024 zip code, which also has the lowest median tax bill at the same value.
Property Tax Assessment Values Across Kings Point, New York
Source: Ownwell
$37,000
$1,990,750
$3,944,500
Average Kings Point Assessed Value
$3,944,500
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 Kings Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11024 | $849,000 | $2,604,000 | $3,944,500 | $6,256,500 | $14,366,500 |
Source: Ownwell
$1,148
Average Kings Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Kings Point, New York
In Kings Point, Nassau County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. With a median home price of $3,944,500, homeowners can expect significant tax bills. Factors like property size, location, and market conditions influence the assessed value. The 25th percentile tax bill is $35,138, while the 75th percentile reaches $72,507, and the 90th percentile soars to $196,463. Compared to the national median property tax rate of 0.99%, Kings Point homeowners face considerably higher rates. These hefty tax bills can be overwhelming, but Ownwell offers a solution. Our property tax consultants specialize in appealing and reducing property tax assessments. By analyzing your property’s assessed value and comparing it to similar properties, we identify discrepancies and file appeals to lower your tax bill. With our expertise, homeowners in Kings Point can potentially save thousands of dollars, making property ownership more affordable and manageable.
Average Kings Point Tax Bill
$52,630
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 Kings Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11024 | $14,940 | $35,138 | $52,630 | $72,507 | $196,463 |
Source: Ownwell
$1,148
Average Kings Point 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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