Fallsburg, New York Property Taxes
The median property tax rate in Fallsburg, NY is 1.87%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With a median home value of $122,143 in Fallsburg, the typical annual property tax bill is $2,532, slightly below the national median of $2,690. Property taxes in Fallsburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fallsburg'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 Fallsburg 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
Fallsburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$2,284
$2,120
Ownwell’s Fallsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fallsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fallsburg 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 Fallsburg, New York
Property taxes in Fallsburg, NY, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Fallsburg is 1.87%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fallsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fallsburg 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 Fallsburg's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12733 has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these cities compare with Fallsburg 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 Fallsburg Tax Rate
1.87%
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 Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12733 | 1.07% | 1.63% | 1.87% | 2.22% | 3.88% |
Source: Ownwell
Property Tax Assessment Values Across Fallsburg, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fallsburg, NY. 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 Fallsburg, 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. For instance, the median home price in Fallsburg is $122,143, and the median tax bill can range significantly. The 25th percentile tax bill is $1,736, while the 75th percentile tax bill is $3,404. The highest median tax bill in the area is $2,532, found in zip code 12733. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fallsburg Assessed Value
$122,143
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 Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12733 | $27,790 | $85,164 | $122,143 | $168,086 | $223,258 |
Source: Ownwell
Property Tax Bills Across Fallsburg, New York
In Fallsburg, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor’s office. The assessed value is a percentage of the market value. Once the assessed value is established, the property tax rate, set by local taxing authorities, is applied. This rate can vary depending on the specific needs of the community, such as funding for schools, infrastructure, and other public services. For homeowners in Fallsburg, the median home price is $122,143. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,736 and the 75th percentile at $3,404. For those at the higher end, the 90th percentile tax bill reaches $5,084. These figures reflect how property taxes can impact homeowners differently based on their property values and the specific tax rates applied in their area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Fallsburg Tax Bill
$2,532
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 Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12733 | $929 | $1,736 | $2,532 | $3,404 | $5,084 |
Source: Ownwell