Warwick, New York Property Taxes
The median property tax rate in Warwick, NY is 2.45%, 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 Warwick at $384,300, the typical annual property tax bill reaches $9,900, far exceeding the national median of $2,690. Property taxes in Warwick 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 Warwick’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 Warwick 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
Warwick, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.45%
Estimate Property Tax Bill
$9,415
$9,309
Ownwell’s Warwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warwick 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 Warwick, New York
Property taxes in Warwick, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warwick is 2.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Warwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warwick 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 Warwick's effective property tax rate to other counties in New York and the national median. For comparison, the 10990 zip code has the highest median property tax rate of 2.45%, while the same 10990 zip code also has the lowest median tax rate of 2.45%. Understanding how these cities compare with Warwick 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 Warwick Tax Rate
2.45%
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 Warwick, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10990 | 2.40% | 2.40% | 2.45% | 2.91% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Warwick, New York
In Warwick, 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 Warwick, 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. Warwick's median home price stands at $384,300. 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 Warwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warwick Assessed Value
$384,300
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 Warwick, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10990 | $205,500 | $282,000 | $384,300 | $536,400 | $669,100 |
Source: Ownwell
Property Tax Bills Across Warwick, New York
Property tax bills in Warwick, located in Orange County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects a percentage of the property's market value. Warwick's median home price stands at $384,300, which significantly influences the tax bill. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can affect the assessed value. Warwick homeowners experience a range of property tax bills, with the 25th percentile at $7,104 and the 75th percentile at $13,551. The 90th percentile tax bill can reach up to $16,537. Compared to the national median property tax rate of 0.99%, Warwick's property taxes are considerably higher, reflecting the area's property values and local government budget needs. This has a substantial impact on homeowners, affecting their annual expenses and potentially influencing their decisions regarding property investments and home ownership.
Average Warwick Tax Bill
$9,900
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 Warwick, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10990 | $5,195 | $7,104 | $9,900 | $13,551 | $16,537 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Orange Assessment Review Commission | |
| Website | gis.orangecountygov.com |