Kenoza Lake, New York Property Taxes
The median property tax rate in Kenoza Lake, NY is 1.28%, which is considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With the median home value in Kenoza Lake at $198,000, the typical annual property tax bill reaches $2,291, which is below the national median of $2,690. Property taxes in Kenoza 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 Kenoza 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 Kenoza Lake or another part of Sullivan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenoza Lake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$2,534
$2,352
Ownwell’s Kenoza Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenoza Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenoza 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 Kenoza Lake, New York
Property taxes in Kenoza Lake, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenoza Lake is 1.28%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kenoza Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenoza 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 Kenoza Lake's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12750 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Kenoza 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 Kenoza Lake Tax Rate
1.28%
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 Kenoza Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12750 | 0.85% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Kenoza Lake, New York
In Kenoza 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 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 Kenoza Lake, 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 example, the median home price in Kenoza Lake is $198,000, with tax bills ranging from $1,130 at the 25th percentile to $5,576 at the 90th percentile. The zip code 12750 holds both the highest and lowest median tax bills, at $2,291. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kenoza Lake Assessed Value
$198,000
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 Kenoza Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12750 | $73,680 | $119,600 | $198,000 | $389,400 | $634,340 |
Source: Ownwell
Property Tax Bills Across Kenoza Lake, New York
In Kenoza Lake, Sullivan County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Kenoza Lake is $198,000, and property tax bills can vary widely within this area. Homeowners in Kenoza Lake typically see property tax bills ranging from $1,130 at the 25th percentile to $3,578 at the 75th percentile, with the 90th percentile reaching up to $5,576. These figures highlight the variability in tax burdens, which can significantly impact household finances. Compared to the national median property tax rate of 0.99%, homeowners in this region may find their tax bills to be relatively higher or lower depending on their property's assessed value and specific tax rate applied.
Average Kenoza Lake Tax Bill
$2,291
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 Kenoza Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12750 | $486 | $1,130 | $2,291 | $3,578 | $5,576 |
Source: Ownwell