Summit, Schoharie County, New York Property Taxes

Name: Property Tax Bills Across Summit, Schoharie County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Summit, NY effective property tax rate: 3.10%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Summit, NY home value: $121,808
Median annual Summit, NY tax bill: $3,734, $1,334 higher than the national median property tax bill of $2,400.

How are property taxes in Schoharie calculated?

Property taxes in Summit, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Summit’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Summit, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Summit, Schoharie County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.1%

Estimate Property Tax Bill

$3,776

$3,504

Ownwell’s Summit Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Summit with just two data points. By entering your property's estimated assessed value, our calculator applies Summit’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Schoharie County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Summit, Schoharie County, New York

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Summit’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S. Summit, located in Schoharie County, has a median property tax rate of 3.10%. This rate is significantly higher than the national median property tax rate of 1.02%. The higher tax rate in Summit reflects the local government's budgetary needs and the value of taxable property in the area. Understanding these factors can help property owners anticipate their tax obligations and explore potential savings through appeals or exemptions.

Property Tax Rates Across Summit, Schoharie County, New York

Source: Ownwell

2.15%

2.65%

3.15%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Summit Tax Rate

3.10%

Median Effective Schoharie County Tax Rate

2.84%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Summit, Schoharie County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12175	2.93%	3.10%	3.10%	3.10%	3.12%

Source: Ownwell

Property Tax Assessment Values Across Summit, Schoharie County, New York

When examining property taxes in Summit, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Schoharie County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Schoharie County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Summit. For example, the median home price in Summit is $121,808, with tax bills ranging significantly across the county. 12175 has the highest median home price at $121,808.

Property Tax Assessment Values Across Summit, Schoharie County, New York

Source: Ownwell

$89,166

$148,750

$208,333

Median Summit Market Value

$121,808

Median Schoharie County Market Value

$130,625

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Summit, Schoharie County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12175	$46,948	$85,186	$121,808	$161,037	$208,596

Source: Ownwell

Property Tax Bills Across Summit, Schoharie County, New York

In Summit, Schoharie County, NY, property tax bills are calculated based on the assessed value of a home. Local assessors determine this value, which is then multiplied by the local tax rate to calculate the tax bill. In Summit, the median property tax bill is $3,734, significantly higher than the national median of $2,400. Factors influencing these bills include the property's market value, local government budgets, and school district funding needs. For homeowners, this means a substantial portion of their annual expenses goes towards property taxes, potentially affecting affordability and financial planning.

Ownwell can assist homeowners in Summit by offering expert property tax appeal services. By analyzing property assessments and market conditions, Ownwell identifies opportunities for reducing over-assessed values. This can lead to significant savings on tax bills. With Ownwell's support, homeowners can navigate the complexities of property tax appeals, ensuring they only pay their fair share and potentially easing the financial burden of homeownership in a high-tax area like Summit.

Property Tax Bills Across Summit, Schoharie County, New York

Source: Ownwell

$1,884

$3,896

$5,908

Median Summit Tax Bill

$3,734

Median Schoharie County Tax Bill

$3,729

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Summit, Schoharie County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12175	$1,413	$2,591	$3,734	$4,938	$6,459

Source: Ownwell