Patterson, New York Property Taxes
The median property tax rate in Patterson, NY is 3.62%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $298,400 in Patterson, the typical annual property tax bill reaches $10,390, far exceeding the national median of $2,690. Property taxes in Patterson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Patterson'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 Patterson 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
Patterson, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.62%
Estimate Property Tax Bill
$10,802
$10,680
Ownwell’s Patterson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Patterson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Patterson 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 Patterson, New York
Property taxes in Patterson, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Patterson is 3.62%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Patterson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Patterson 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 Patterson's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12563 has the highest median property tax rate of 3.62%, while the same zip code also has the lowest median tax rate of 3.62%. Understanding how these cities compare with Patterson provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Patterson Tax Rate
3.62%
Average Putnam County Tax Rate
3.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Patterson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12563 | 3.10% | 3.36% | 3.62% | 3.76% | 3.82% |
Source: Ownwell
Property Tax Assessment Values Across Patterson, New York
In Patterson, 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 Putnam 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 Patterson, 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 Patterson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Patterson is $10,390, with zip code 12563 reflecting the highest and lowest median tax bills.
Average Patterson Assessed Value
$298,400
Average Putnam County Assessed Value
$378,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Patterson, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12563 | $173,600 | $230,200 | $298,400 | $405,600 | $528,600 |
Source: Ownwell
Property Tax Bills Across Patterson, New York
Property tax bills in Patterson, Putnam 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 tax assessor and is a percentage of the property's market value. In Patterson, the median home price is $298,400. The tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property location, size, and any applicable exemptions or abatements. For example, the 25th percentile tax bill in Patterson is $8,129, while the 75th percentile tax bill reaches $13,948, indicating a significant range based on property characteristics. The highest median tax bill in the area is $10,390, which reflects the variability in property values and assessments. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual housing costs and overall affordability.
Average Patterson Tax Bill
$10,390
Average Putnam County Tax Bill
$11,749
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Patterson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12563 | $4,919 | $8,129 | $10,390 | $13,948 | $17,876 |
Source: Ownwell