Kauneonga Lake, New York Property Taxes
The median property tax rate in Kauneonga Lake, NY is 2.75%, 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 Kauneonga Lake at $137,376, the typical annual property tax bill reaches $3,379, exceeding the national median of $2,690. Property taxes in Kauneonga Lake 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 Kauneonga Lake'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 Kauneonga Lake 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
Kauneonga Lake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$3,778
$3,506
Ownwell’s Kauneonga Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kauneonga Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kauneonga Lake 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 Kauneonga Lake, New York
Property taxes in Kauneonga Lake, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kauneonga Lake is 2.75%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kauneonga Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kauneonga Lake 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 Kauneonga Lake's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12749 has both the highest and lowest median property tax rate of 2.75%. Understanding how these cities compare with Kauneonga Lake 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 Kauneonga Lake Tax Rate
2.75%
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 Kauneonga Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12749 | 2.09% | 2.39% | 2.75% | 2.93% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Kauneonga Lake, New York
In Kauneonga Lake, 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. 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 Kauneonga Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $3,379, specifically in the 12749 zip code.
Property Tax Assessment Values Across Kauneonga Lake, New York
Source: Ownwell
$29,135
$166,546
$303,956
Average Kauneonga Lake Assessed Value
$137,376
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 Kauneonga Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12749 | $73,081 | $100,000 | $137,376 | $168,986 | $448,429 |
Source: Ownwell
Property Tax Bills Across Kauneonga Lake, New York
In Kauneonga Lake, located in Sullivan County, 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 of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Kauneonga Lake can expect a median property tax bill of around $3,379, which is higher than the national median property tax rate of 0.99%. Various factors influence the tax bill, including property size, location, and improvements made to the property. For example, homes in the 25th percentile have tax bills around $2,708, while those in the 75th percentile see bills closer to $4,689. The highest tax bills, found in the 90th percentile, can reach up to $12,892. These property taxes significantly impact homeowners, affecting their overall housing costs and potentially influencing their decisions regarding homeownership and property investments.
Average Kauneonga Lake Tax Bill
$3,379
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 Kauneonga Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12749 | $1,585 | $2,708 | $3,379 | $4,689 | $12,892 |
Source: Ownwell