Fort Edward, New York Property Taxes
The median property tax rate in Fort Edward, NY is 1.59%, 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 Fort Edward at $240,000, the typical annual property tax bill reaches $3,770, exceeding the national median of $2,690. Property taxes in Fort Edward 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 Fort Edward'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 Fort Edward 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
Fort Edward, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$3,816
$3,541
Ownwell’s Fort Edward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Edward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Edward 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 Fort Edward, New York
Property taxes in Fort Edward, NY, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Edward is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fort Edward set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Edward 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 Fort Edward's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12828 has both the highest and lowest median property tax rate of 1.59%. Understanding how these cities compare with Fort Edward provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Edward Tax Rate
1.59%
Average Saratoga County Tax Rate
1.62%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Edward, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12828 | 0.96% | 1.43% | 1.59% | 1.76% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Fort Edward, New York
In Fort Edward, 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 Saratoga 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 Fort Edward, 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. The median home price in Fort Edward is $240,000, with tax bills ranging from $2,748 at the 25th percentile to $5,951 at the 90th percentile. The highest and lowest median tax bills are both $3,770 in the 12828 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 Fort Edward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Edward Assessed Value
$240,000
Average Saratoga County Assessed Value
$282,609
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Edward, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12828 | $55,200 | $188,000 | $240,000 | $300,000 | $348,000 |
Source: Ownwell
Property Tax Bills Across Fort Edward, New York
In Fort Edward, located in Saratoga County, NY, property tax bills are determined based on the assessed value of a property and the applicable tax rate. The assessed value is established by local assessors and is intended to reflect the market value of the property. Homeowners in Fort Edward face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is approximately $2,748, while the 75th percentile reaches about $5,056, and the 90th percentile can go up to $5,951. The median home price in the area is around $240,000, which influences the overall tax burden. Comparatively, the national median property tax rate is 0.99%, placing Fort Edward's property tax rates above the national average. This higher tax rate can significantly impact homeowners, potentially leading to higher annual expenses. Understanding how these factors interplay is crucial for homeowners aiming to manage their financial obligations effectively.
Average Fort Edward Tax Bill
$3,770
Average Saratoga County Tax Bill
$4,340
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Edward, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12828 | $959 | $2,748 | $3,770 | $5,056 | $5,951 |
Source: Ownwell