Fultonham, New York Property Taxes
The median property tax rate in Fultonham, NY is 2.96%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Fultonham at $110,392, the typical annual property tax bill reaches $3,218, surpassing the national median of $2,690. Property taxes in Fultonham are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fultonham'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 Fultonham 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
Fultonham, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.96%
Estimate Property Tax Bill
$3,268
$3,231
Ownwell’s Fultonham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fultonham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fultonham 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 Fultonham, New York
Property taxes in Fultonham, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fultonham is 2.96%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fultonham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fultonham 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 Fultonham's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12071 has both the highest and lowest median property tax rate of 2.96%. Understanding how these areas compare with Fultonham provides valuable insights into the varying tax landscape across Schoharie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fultonham Tax Rate
2.96%
Average Schoharie County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fultonham, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12071 | 2.70% | 2.96% | 2.96% | 2.96% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Fultonham, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fultonham, NY. 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 Schoharie 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 Fultonham, 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. The median home price in Fultonham is $110,392, with tax bills ranging from $2,068 at the 25th percentile to $6,903 at the 90th percentile. The zip code 12071 has the highest median tax bill of $3,218. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fultonham Assessed Value
$110,392
Average Schoharie County Assessed Value
$130,625
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fultonham, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12071 | $34,592 | $75,294 | $110,392 | $156,667 | $232,992 |
Source: Ownwell
Property Tax Bills Across Fultonham, New York
In Fultonham, Schoharie County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $110,392. Property tax rates in Fultonham are influenced by various factors, including the local government's budget needs, school district funding, and public services. Homeowners can expect tax bills that vary significantly, with the 25th percentile at $2,068 and the 75th percentile reaching $4,597. For those in the 90th percentile, tax bills can be as high as $6,903. These property taxes directly impact homeowners by contributing to the funding of essential services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Fultonham's rates can result in relatively high tax bills, reflecting the community's investment in local services and amenities. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Fultonham Tax Bill
$3,218
Average Schoharie County Tax Bill
$3,729
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fultonham, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12071 | $971 | $2,068 | $3,218 | $4,597 | $6,903 |
Source: Ownwell