Lawrence, New York Property Taxes
The median property tax rate in Lawrence, NY is 1.34%, 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 Lawrence at $1,101,500, the typical annual property tax bill reaches $14,191, significantly exceeding the national median of $2,690. Property taxes in Lawrence 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 Lawrence'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 Lawrence 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
Lawrence, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$14,760
$13,697
$1,148
Average Tax Savings
Ownwell’s Lawrence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lawrence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawrence 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 Lawrence. 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 Lawrence, New York
Property taxes in Lawrence, New York, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawrence is 1.34%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lawrence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawrence 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 Lawrence's effective property tax rate to other counties in New York and the national median. For comparison, the 11559 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Lawrence 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 Lawrence Tax Rate
1.34%
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 Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11559 | 1.19% | 1.26% | 1.34% | 1.50% | 2.21% |
Source: Ownwell
$1,148
Average Lawrence Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lawrence, New York
In Lawrence, 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 Assessment Department 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 Lawrence, 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 Lawrence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 11559 has both the highest and lowest median tax bill, standing at $14,191.
Average Lawrence Assessed Value
$1,101,500
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 Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11559 | $320,900 | $609,500 | $1,101,500 | $1,450,250 | $1,919,000 |
Source: Ownwell
$1,148
Average Lawrence Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lawrence, New York
In Lawrence, located in Nassau County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lawrence is $1,101,500, which significantly influences the property tax amount. Homeowners in this area face property tax bills ranging from $8,907 at the 25th percentile to $25,308 at the 90th percentile, with the median tax bill being $14,191 in zip code 11559. These figures are notably higher than the national median property tax rate of 0.99%. Several factors contribute to the tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. High property taxes can place a substantial financial burden on homeowners. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax bills. By reviewing assessments and identifying potential discrepancies or overlooked exemptions, Ownwell can assist in lowering property taxes, providing significant savings for homeowners in Lawrence.
Average Lawrence Tax Bill
$14,191
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 Lawrence, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11559 | $5,963 | $8,907 | $14,191 | $19,156 | $25,308 |
Source: Ownwell
$1,148
Average Lawrence 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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