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Water Mill, Suffolk County, New York Property Taxes

  • Median Water Mill, NY effective property tax rate: 0.33%, significantly lower than the national median of 1.02%, but lower than the New York state median of 2.39%.

  • Median Water Mill, NY home value: $3,419,747

  • Median annual Water Mill, NY tax bill: $9,645, $7,245 higher than the national median property tax bill of $2,400.

How are property taxes in Suffolk calculated?

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

Last Updated March 1, 2025

Water Mill, Suffolk County, New York Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.33%

Estimate Property Tax Bill

$11,285

$10,472

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Water Mill Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Water Mill with just two data points. By entering your property's estimated assessed value, our calculator applies Water Mill’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 more 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 Suffolk County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Water Mill, Suffolk County, New York

Local government entities determine tax rates, which can significantly vary across a state. Each year, counties like Suffolk in New York calculate their necessary budget to maintain essential services. They then divide this budget by the total assessed value of all taxable properties within the county, resulting in the property tax rate. While the process involves votes and legislative measures, this is the fundamental approach to setting property tax rates annually.

In Water Mill, located in Suffolk County, the effective property tax rate is notably lower compared to other cities in New York. With a median tax rate of 0.33%, Suffolk County stands out against the state and national averages. This is particularly intriguing when compared to the national median property tax rate of 1.02% and the national median property tax bill of $2,400. Such variations emphasize the importance of understanding local tax dynamics, as they can significantly impact property owners' financial responsibilities. Residents and potential property buyers should consider these differences when evaluating property investments in different regions.

Property Tax Rates Across Water Mill, Suffolk County, New York

Source: Ownwell

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0.16%

1.54%

2.91%

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 Water Mill Tax Rate

0.33%

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 Suffolk County Tax Rate

108.95%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Water Mill, Suffolk County, New York

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
119760.32%0.32%0.33%0.33%0.35%

Source: Ownwell

Property Tax Assessment Values Across Water Mill, Suffolk County, New York

When examining property taxes in Water Mill, 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 Suffolk 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:

In Suffolk County, assessment notices are sent 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 Water Mill. For example, the median home price in Water Mill is $3,419,747, with tax bills ranging significantly across the county. 11976 has the highest median home price at $3,419,747.

Property Tax Assessment Values Across Water Mill, Suffolk County, New York

Source: Ownwell

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$3,298

$3,252,219

$6,501,139

Median Water Mill Market Value

$3,419,747

Median Suffolk County Market Value

$6,290

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Water Mill, Suffolk County, New York

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
11976$1,319,873$1,892,342$3,419,747$5,858,481$9,705,114

Source: Ownwell

Property Tax Bills Across Water Mill, Suffolk County, New York

In Water Mill, Suffolk County, NY, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $3,419,747, homeowners in this region often face substantial tax bills. The tax bill at the 25th percentile is $5,624, while at the 75th percentile, it rises to $17,674, and at the 90th percentile, it reaches $29,766. These figures are significantly higher than the national median property tax bill of $2,400, highlighting the financial burden on homeowners in this area. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Ownwell steps in to assist homeowners in navigating these complexities, offering services to appeal and potentially reduce their property tax bills. By leveraging expertise in local tax laws and assessment procedures, Ownwell helps homeowners ensure they are not overpaying, ultimately leading to significant savings and financial relief.

Property Tax Bills Across Water Mill, Suffolk County, New York

Source: Ownwell

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$2,771

$10,909

$19,046

Median Water Mill Tax Bill

$9,645

Median Suffolk County Tax Bill

$10,006

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Water Mill, Suffolk County, New York

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
11976$4,261$5,624$9,645$17,674$29,766

Source: Ownwell

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