Bethel, New York Property Taxes
The median property tax rate in Bethel, NY is 2.66%, 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 Bethel at $146,322, the typical annual property tax bill reaches $3,565, exceeding the national median of $2,690. Property taxes in Bethel are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bethel'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 Bethel 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
Bethel, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.66%
Estimate Property Tax Bill
$3,892
$3,612
Ownwell’s Bethel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethel 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 Bethel, New York
Property taxes in Bethel, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethel is 2.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bethel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethel 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 Bethel's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 12720 has the highest median property tax rate of 2.66%, while the same zip code also has the lowest median tax rate of 2.66%. Understanding how these areas compare with Bethel provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethel Tax Rate
2.66%
Average Sullivan County Tax Rate
1.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethel, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12720 | 1.69% | 2.35% | 2.66% | 2.71% | 3.75% |
Source: Ownwell
Property Tax Assessment Values Across Bethel, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bethel, New York. 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 Sullivan 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 Bethel, 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 Bethel is $146,322, with median tax bills ranging from $2,264 at the 25th percentile to $11,998 at the 90th percentile. The zip code 12720 has both the highest and lowest median tax bill at $3,565. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bethel Assessed Value
$146,322
Average Sullivan County Assessed Value
$159,121
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethel, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12720 | $60,835 | $90,855 | $146,322 | $246,123 | $449,901 |
Source: Ownwell
Property Tax Bills Across Bethel, New York
In Bethel, Sullivan County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bethel, the median home price is $146,322, making property taxes a significant consideration. Several factors influence the tax bill, including property size, location, and any improvements made to the home. The tax bill can vary widely, as seen in the 25th percentile tax bill of $2,264 and the 75th percentile tax bill of $6,291. At the 90th percentile, homeowners might pay as much as $11,998 annually. Compared to the national median property tax rate of 0.99%, Bethel's tax rates reflect the local government's financial needs and the services provided to residents. These property taxes directly impact homeowners' budgets, influencing their overall cost of living and financial planning.
Average Bethel Tax Bill
$3,565
Average Sullivan County Tax Bill
$2,467
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethel, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12720 | $1,387 | $2,264 | $3,565 | $6,291 | $11,998 |
Source: Ownwell