South Colton, New York Property Taxes
The median property tax rate in South Colton, NY is 2.87%, 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 $88,125, the typical annual property tax bill in South Colton reaches $2,419, which is still below the national median of $2,690. Property taxes here are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding South Colton'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 South Colton or another part of St. Lawrence County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Colton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$2,529
$2,347
Ownwell’s South Colton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Colton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Colton 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 South Colton, New York
Property taxes in South Colton, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Colton is 2.87%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within South Colton set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Colton 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 South Colton's effective property tax rate to other counties in New York and the national median. For comparison, the 13687 zip code has the highest median property tax rate of 2.87%, while the 13687 zip code has the lowest median tax rate of 2.87%. Understanding how these cities compare with South Colton provides valuable insights into the varying tax landscape across St. Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Colton Tax Rate
2.87%
Average St. Lawrence County Tax Rate
3.02%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Colton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13687 | 2.81% | 2.87% | 2.87% | 2.88% | 2.93% |
Source: Ownwell
Property Tax Assessment Values Across South Colton, New York
In South Colton, 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 St. Lawrence 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 South Colton, 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 South Colton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in South Colton are both $2419, found in the zip code 13687.
Average South Colton Assessed Value
$88,125
Average St. Lawrence County Assessed Value
$83,455
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Colton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13687 | $22,052 | $53,463 | $88,125 | $143,282 | $210,045 |
Source: Ownwell
Property Tax Bills Across South Colton, New York
In South Colton, NY, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The assessed value is a percentage of the home's market value, reflecting its worth in the current real estate market. For instance, the median home price in South Colton is $88,125. Various factors influence the assessed value, including the property's size, location, and condition. Homeowners in South Colton experience a range of property tax bills. The 25th percentile tax bill is approximately $1,481, while the 75th percentile tax bill reaches $3,999. At the higher end, the 90th percentile tax bill can be as much as $6,015. These figures highlight the variability in tax bills based on property values and assessments. Compared to the national median property tax rate of 0.99%, South Colton's property tax rates can have a significant impact on homeowners, potentially affecting their overall financial planning and housing affordability.
Average South Colton Tax Bill
$2,419
Average St. Lawrence County Tax Bill
$2,611
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across South Colton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13687 | $633 | $1,481 | $2,419 | $3,999 | $6,015 |
Source: Ownwell