Lynbrook, New York Property Taxes
The median property tax rate in Lynbrook, NY is 1.95%, 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 Lynbrook at $510,000, the typical annual property tax bill reaches $9,856, exceeding the national median of $2,690. Property taxes in Lynbrook 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 Lynbrook'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 Lynbrook 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
Lynbrook, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.95%
Estimate Property Tax Bill
$9,945
$9,833
$1,148
Average Lynbrook, New York Tax Savings
Ownwell’s Lynbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lynbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lynbrook 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 Lynbrook. 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 Lynbrook, New York
Property taxes in Lynbrook, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lynbrook is 1.95%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lynbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lynbrook 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 Lynbrook's effective property tax rate to other areas in Nassau County and the national median. For comparison, the 11563 zip code has the highest median property tax rate of 1.95%, while the 11563 zip code also has the lowest median tax rate of 1.95%. Understanding how these areas compare with Lynbrook 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 Lynbrook Tax Rate
1.95%
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 Lynbrook, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11563 | 1.43% | 1.71% | 1.95% | 2.15% | 2.34% |
Source: Ownwell
$1,148
Average Lynbrook Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lynbrook, New York
In Lynbrook, 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 Lynbrook, 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. Notably, Lynbrook has a median home price of $510,000, with tax bills ranging from $8,219 at the 25th percentile to $13,204 at the 90th percentile. The zip code 11563 has both the highest and lowest median tax bill at $9,856. Being aware of these valuation processes in Lynbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lynbrook Assessed Value
$510,000
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 Lynbrook, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11563 | $424,000 | $467,000 | $510,000 | $562,000 | $616,000 |
Source: Ownwell
$1,148
Average Lynbrook Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lynbrook, New York
Property tax bills in Lynbrook, located in Nassau County, NY, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is derived from the market value of the home, which in Lynbrook has a median home price of $510,000. Factors such as property size, location, and improvements can influence this valuation. Homeowners in Lynbrook experience property tax bills that range from $8,219 at the 25th percentile to $13,204 at the 90th percentile, with the highest median tax bill recorded at $9,856. These tax bills can significantly impact homeowners, often leading to financial strain. This is where Ownwell steps in to help. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in reducing their assessed values, thereby lowering their tax obligations. With professional guidance and a thorough understanding of local tax regulations, Ownwell ensures homeowners pay only their fair share, potentially saving them thousands of dollars annually.
Average Lynbrook Tax Bill
$9,856
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 Lynbrook, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 11563 | $6,397 | $8,219 | $9,856 | $11,463 | $13,204 |
Source: Ownwell
$1,148
Average Lynbrook Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to file a grievance!
Dates | |
|---|---|
| Appeal Deadline | March 18 |
Links | |
|---|---|
| Nassau Assessment Review Commission | |
| Website | lrv.nassaucountyny.gov |
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