Victory Mills, New York Property Taxes
The median property tax rate in Victory Mills, NY is 1.90%, 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 Victory Mills at $132,911, the typical annual property tax bill reaches $2,327, slightly below the national median of $2,690. Property taxes in Victory Mills 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 Victory Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Victory Mills or another part of Saratoga County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Victory Mills, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$2,525
$2,343
Ownwell’s Victory Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Victory Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Victory Mills 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 Victory Mills, New York
Property taxes in Victory Mills, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Victory Mills is 1.90%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Victory Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Victory Mills 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 Victory Mills' effective property tax rate to other counties in New York and the national median. For comparison, the 12884 zip code has the highest median property tax rate of 1.90%, while the 12884 zip code has the lowest median tax rate of 1.90%. Understanding how these cities compare with Victory Mills 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 Victory Mills Tax Rate
1.90%
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 Victory Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12884 | 0.73% | 1.41% | 1.90% | 1.92% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Victory Mills, New York
In Victory Mills, 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 Victory Mills, 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 Victory Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 12884, with a value of $2,327, while the lowest median tax bill is also in 12884, reflecting the same value.
Property Tax Assessment Values Across Victory Mills, New York
Source: Ownwell
$132,911
$259,274
$385,636
Average Victory Mills Assessed Value
$132,911
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 Victory Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12884 | $78,532 | $113,671 | $132,911 | $163,544 | $211,316 |
Source: Ownwell
Property Tax Bills Across Victory Mills, New York
In Victory Mills, located in Saratoga County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Victory Mills, the tax bill can vary significantly. The tax bill for the 25th percentile is around $1,644, while those in the 75th percentile pay approximately $3,443. At the higher end, the 90th percentile sees tax bills reaching up to $4,592. In comparison, the national median property tax rate is 0.99%. This means that property taxes in Victory Mills can be considerable, impacting homeowners' annual expenses. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Victory Mills Tax Bill
$2,327
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 Victory Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12884 | $640 | $1,644 | $2,327 | $3,443 | $4,592 |
Source: Ownwell