Ferndale, New York Property Taxes
The median property tax rate in Ferndale, NY is 2.21%, significantly higher than the national median of 0.99%, though slightly below the New York state median of 2.39%. With the median home value in Ferndale at $129,511, the typical annual property tax bill amounts to $2,658, closely aligning with the national median of $2,690. Property taxes in Ferndale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ferndale’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 Ferndale 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
Ferndale, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$2,862
$2,830
Ownwell’s Ferndale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferndale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferndale 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 Ferndale, New York
Property taxes in Ferndale, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferndale is 2.21%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Ferndale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferndale 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 Ferndale's effective property tax rate to other counties in New York and the national median. For comparison, the 12734 zip code has the highest median property tax rate of 2.21%, while the same zip code also has the lowest median tax rate of 2.21%. Understanding how these cities compare with Ferndale 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 Ferndale Tax Rate
2.21%
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 Ferndale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12734 | 1.13% | 1.79% | 2.21% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Ferndale, New York
In Ferndale, 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 Sullivan County Assessment Office 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 Ferndale, 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. For instance, the median home price in Ferndale is $129,511, with tax bills ranging from $1,659 at the 25th percentile to $5,733 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ferndale Assessed Value
$129,511
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 Ferndale, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12734 | $65,278 | $104,875 | $129,511 | $191,075 | $272,129 |
Source: Ownwell
Property Tax Bills Across Ferndale, New York
Property tax bills in Ferndale, Sullivan County, NY, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Ferndale is $129,511, and the property tax rate in the area is higher than the national median of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements or renovations made to the property. For homeowners, this means that maintaining or enhancing their property can lead to higher assessed values and, consequently, higher tax bills. In Ferndale, tax bills can vary significantly, with the 25th percentile tax bill at $1,659 and the 90th percentile reaching up to $5,733. The highest and lowest median tax bills are both recorded at $2,658 in the zip code 12734. Understanding these factors can help homeowners better anticipate their property tax obligations and plan their finances accordingly.
Average Ferndale Tax Bill
$2,658
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 Ferndale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12734 | $893 | $1,659 | $2,658 | $3,784 | $5,733 |
Source: Ownwell