Middleburgh, New York Property Taxes
The median property tax rate in Middleburgh, NY is 2.95%, 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 Middleburgh, the typical annual property tax bill reaches $3,555, exceeding the national median of $2,690. Property taxes in Middleburgh 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 Middleburgh'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 Middleburgh 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
Middleburgh, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$3,730
$3,688
Ownwell’s Middleburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middleburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middleburgh 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 Middleburgh, New York
Property taxes in Middleburgh, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middleburgh is 2.95%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Middleburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middleburgh 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. For comparison, the 12122 zip code has the highest median property tax rate of 2.95%, while the lowest median tax rate of 2.95% is also found in the 12122 zip code. Understanding how these cities compare with Middleburgh 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 Middleburgh Tax Rate
2.95%
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 Middleburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12122 | 2.36% | 2.75% | 2.95% | 2.97% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Middleburgh, New York
In Middleburgh, 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 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 Middleburgh, 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. Middleburgh’s median home price stands at $126,437, with tax bills ranging from $2,183 at the 25th percentile to $6,707 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 12122, with a median tax bill of $3,555. 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 Middleburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middleburgh Assessed Value
$126,437
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 Middleburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12122 | $42,492 | $81,562 | $126,437 | $168,122 | $233,356 |
Source: Ownwell
Property Tax Bills Across Middleburgh, New York
In Middleburgh, located in Schoharie County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and market conditions are considered in the assessment process. For example, with a median home price of $126,437, homeowners can expect varying tax bills. The 25th percentile tax bill is approximately $2,183, while the 75th percentile reaches $4,832, and the 90th percentile can go up to $6,707. This variation highlights the impact of property characteristics and market values on tax obligations. Compared to the national median property tax rate of 0.99%, Middleburgh's tax rates reflect the unique economic and real estate conditions of the area. Understanding these factors helps homeowners anticipate their annual tax liabilities and plan their finances accordingly.
Average Middleburgh Tax Bill
$3,555
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 Middleburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12122 | $1,216 | $2,183 | $3,555 | $4,832 | $6,707 |
Source: Ownwell