Forestburgh, New York Property Taxes
The median property tax rate in Forestburgh, NY is 2.90%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Forestburgh, the typical annual property tax bill reaches $2,522, slightly below the national median of $2,690. Property taxes in Forestburgh are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Forestburgh'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 Forestburgh 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
Forestburgh, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.9%
Estimate Property Tax Bill
$5,932
$5,865
Ownwell’s Forestburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forestburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forestburgh 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 Forestburgh, New York
Property taxes in Forestburgh, 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 Forestburgh is 2.90%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Forestburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forestburgh 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 Forestburgh's effective property tax rate to other areas in Sullivan County and the national median. For comparison, the 12777 zip code has the highest median property tax rate of 2.90%, while the same zip code also has the lowest median tax rate of 2.90%. Understanding how these figures compare with Forestburgh 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 Forestburgh Tax Rate
2.90%
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 Forestburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12777 | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Forestburgh, New York
In Forestburgh, 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 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 Forestburgh, 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 Forestburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 12777 has the highest and lowest median tax bill at $2,522.
Average Forestburgh Assessed Value
$204,545
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 Forestburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12777 | $85,227 | $137,500 | $204,545 | $335,227 | $513,636 |
Source: Ownwell
Property Tax Bills Across Forestburgh, New York
In Forestburgh, located in Sullivan County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. Homeowners in Forestburgh typically see a median home price of $204,545. The property tax rate is applied to this assessed value to determine the annual tax bill. In Forestburgh, the median property tax bill is $2,522, which is notably higher than the national median property tax rate of 0.99%. This consistent tax bill, reflected across the 25th, 75th, and 90th percentiles, indicates a uniform tax rate application in the area. For homeowners, this means a predictable annual expense that can significantly impact their overall housing costs. Understanding these factors can help homeowners in Forestburgh budget effectively and anticipate their financial obligations related to property ownership.
Average Forestburgh Tax Bill
$2,522
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 Forestburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12777 | $2,522 | $2,522 | $2,522 | $2,522 | $2,522 |
Source: Ownwell