Bloomingburg, New York Property Taxes
The median property tax rate in Bloomingburg, NY is 2.58%, 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 Bloomingburg at $270,900, the typical annual property tax bill reaches $6,986, significantly exceeding the national median of $2,690. Property taxes in Bloomingburg 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 Bloomingburg'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 Bloomingburg 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
Bloomingburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$6,989
$6,486
Ownwell’s Bloomingburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bloomingburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bloomingburg 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 Bloomingburg, New York
Property taxes in Bloomingburg, NY, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomingburg is 2.58%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bloomingburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomingburg 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 Bloomingburg's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 12721 has the highest median property tax rate of 2.58%, while the same zip code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with Bloomingburg provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomingburg Tax Rate
2.58%
Average Orange County Tax Rate
2.78%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | 2.52% | 2.52% | 2.58% | 2.64% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Bloomingburg, New York
In Bloomingburg, 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 Orange 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 Bloomingburg, 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. For instance, the median home price is $270,900, with tax bills ranging from $5,111 at the 25th percentile to $11,733 at the 90th percentile. The highest and lowest median tax bills are both $6,986 in the 12721 zip code. 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 Bloomingburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bloomingburg Assessed Value
$270,900
Average Orange County Assessed Value
$278,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | $111,600 | $209,100 | $270,900 | $367,900 | $460,080 |
Source: Ownwell
Property Tax Bills Across Bloomingburg, New York
In Bloomingburg, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to compute the final tax bill. Factors influencing the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or abatements. For homeowners in Bloomingburg, the median home price is $270,900. With property tax bills ranging widely, the 25th percentile is $5,111, while the 75th percentile reaches $9,436. At the 90th percentile, homeowners might see bills as high as $11,733. Comparatively, the national median property tax rate is 0.99%, making Bloomingburg's tax rates notably higher. This significant range in tax bills can impact homeowners' finances, influencing decisions on homeownership and long-term investments. Understanding these factors is essential for homeowners aiming to manage their property tax liabilities effectively.
Average Bloomingburg Tax Bill
$6,986
Average Orange County Tax Bill
$7,888
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomingburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12721 | $2,880 | $5,111 | $6,986 | $9,436 | $11,733 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Orange Assessment Review Commission | |
| Website | gis.orangecountygov.com |