Averill Park, New York Property Taxes
The median property tax rate in Averill Park, NY is 2.58%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $244,342 in Averill Park, the typical annual property tax bill reaches $6,175, far exceeding the national median of $2,690. Property taxes in Averill Park are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Averill Park'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 Averill Park 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
Averill Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$6,304
$6,233
Ownwell’s Averill Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Averill Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Averill Park 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 Averill Park, New York
Property taxes in Averill Park, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Averill Park is 2.58%, significantly higher than both the New York state median of 1.38% and the U.S. national median of 0.99%. Local government entities within Averill Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Averill Park 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 Averill Park's effective property tax rate to other counties in New York and the national median. For comparison, the 12018 zip code 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 Averill Park provides valuable insights into the varying tax landscape across Rensselaer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Averill Park Tax Rate
2.58%
Average Rensselaer County Tax Rate
2.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Averill Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12018 | 2.45% | 2.49% | 2.58% | 2.58% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Averill Park, New York
In Averill Park, 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 Rensselaer County Assessment Office 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 Averill Park, 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 Averill Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12018 has both the highest and lowest median tax bill, which stands at $6,175.
Average Averill Park Assessed Value
$244,342
Average Rensselaer County Assessed Value
$193,797
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Averill Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12018 | $129,032 | $181,524 | $244,342 | $326,220 | $402,439 |
Source: Ownwell
Property Tax Bills Across Averill Park, New York
In Averill Park, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in this area is $244,342. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate, which in Rensselaer County is notably higher than the national median property tax rate of 0.99%. Factors such as property size, location, and market conditions are taken into account during the assessment. Homeowners in Averill Park can expect their annual property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $4,579, whereas the 75th percentile tax bill reaches $8,321. At the 90th percentile, homeowners might pay up to $10,291 annually. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, higher property tax bills can impact homeowners by increasing their overall cost of living but also contribute to maintaining and improving community services.
Average Averill Park Tax Bill
$6,175
Average Rensselaer County Tax Bill
$5,040
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Averill Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12018 | $3,116 | $4,579 | $6,175 | $8,321 | $10,291 |
Source: Ownwell