Malta, New York Property Taxes
The median property tax rate in Malta, NY is 1.58%, 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 $324,000 in Malta, the typical annual property tax bill reaches $4,871, far exceeding the national median of $2,690. Property taxes in Malta are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Malta'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 Malta 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
Malta, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$5,119
$4,750
Ownwell’s Malta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malta 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 Malta, New York
Property taxes in Malta, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Malta is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within Malta set these rates annually, and they can vary across different neighborhoods. Each year, Malta 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 Malta's effective property tax rate to other areas and the national median. For comparison, the zip code 12020 has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these areas compare with Malta provides valuable insights into the varying tax landscape across Saratoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malta Tax Rate
1.58%
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 Malta, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | 0.70% | 1.43% | 1.58% | 1.79% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Malta, New York
In Malta, 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 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 Malta, 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 Malta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Malta is $324,000, with tax bills ranging from $3,940 at the 25th percentile to $6,410 at the 90th percentile. The zip code 12020 has the highest and lowest median tax bill at $4,871.
Average Malta Assessed Value
$324,000
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 Malta, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | $283,500 | $324,000 | $324,000 | $324,000 | $345,500 |
Source: Ownwell
Property Tax Bills Across Malta, New York
In Malta, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence this calculation, including the property's location, size, and market value. For example, the median home price in Malta is $324,000, which serves as a baseline for assessments. Homeowners in Malta can expect to pay a property tax bill that ranges significantly. At the 25th percentile, the tax bill is $3,940, while at the 75th percentile, it rises to $5,815. The 90th percentile sees tax bills as high as $6,410. The highest and lowest median tax bills in the area are both reported at $4,871, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Malta's property tax rates may seem high, impacting homeowners' annual expenses significantly. Such variations can influence decisions on property investments and homeownership in the region.
Average Malta Tax Bill
$4,871
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 Malta, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12020 | $1,874 | $3,940 | $4,871 | $5,815 | $6,410 |
Source: Ownwell