Stephentown, New York Property Taxes
The median property tax rate in Stephentown, NY is 2.08%, 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 $189,892 in Stephentown, the typical annual property tax bill reaches $3,933, surpassing the national median of $2,690. Property taxes in Stephentown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Stephentown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stephentown or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stephentown, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$3,950
$3,905
Ownwell’s Stephentown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stephentown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stephentown 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 Stephentown, New York
Property taxes in Stephentown, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stephentown is 2.08%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Stephentown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stephentown 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 Stephentown's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 12169 has the highest median property tax rate of 2.26%, while the zip code 12168 has the lowest median tax rate of 2.02%. Understanding how these areas compare with Stephentown 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 Stephentown Tax Rate
2.08%
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 Stephentown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12168 | 1.54% | 1.92% | 2.02% | 2.26% | 2.26% |
| 12169 | 1.91% | 2.06% | 2.26% | 2.55% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Stephentown, New York
In Stephentown, 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 Assessor 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 Stephentown, 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. For instance, the highest median tax bill in Stephentown is $4,112 in the 12169 zip code, while the lowest is $3,891 in the 12168 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stephentown Assessed Value
$189,892
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 Stephentown, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12168 | $96,774 | $144,328 | $191,398 | $261,290 | $337,376 |
| 12169 | $88,301 | $139,785 | $186,353 | $245,914 | $315,957 |
Source: Ownwell
Property Tax Bills Across Stephentown, New York
In Stephentown, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is intended to reflect the market value of the property. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Stephentown can expect a wide range of property tax bills. At the 25th percentile, property tax bills are around $2,800, while at the 75th percentile, they rise to approximately $5,436. The 90th percentile sees tax bills as high as $7,086. For comparison, the highest median tax bill in the area is $4,112 in the 12169 zip code, while the lowest is $3,891 in the 12168 zip code. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates.
Average Stephentown Tax Bill
$3,933
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 Stephentown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12168 | $1,709 | $2,779 | $3,891 | $5,341 | $6,983 |
| 12169 | $1,780 | $3,002 | $4,112 | $5,705 | $7,578 |
Source: Ownwell