Kiamesha Lake, New York Property Taxes
The median property tax rate in Kiamesha Lake, NY is 1.73%, 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 Kiamesha Lake at $97,822, the typical annual property tax bill reaches $2,749, exceeding the national median of $2,690. Property taxes in Kiamesha 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 Kiamesha 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 Kiamesha 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
Kiamesha Lake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,692
$1,673
Ownwell’s Kiamesha Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kiamesha Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kiamesha 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 Kiamesha Lake, New York
Property taxes in Kiamesha Lake, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kiamesha Lake is 1.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kiamesha Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kiamesha 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 Kiamesha Lake's effective property tax rate to other areas and the national median. For comparison, the 12751 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these figures compare with Kiamesha 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 Kiamesha Lake Tax Rate
1.73%
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 Kiamesha Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12751 | 1.62% | 1.63% | 1.73% | 2.20% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Kiamesha Lake, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kiamesha Lake, New York. 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 Kiamesha 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 instance, the median home price in the area is $97,822, with tax bills ranging from $895 at the 25th percentile to $4,823 at the 90th percentile. The highest and lowest median tax bills, both at $2,749, are found in the 12751 zip code. 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 their tax burden.
Average Kiamesha Lake Assessed Value
$97,822
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 Kiamesha Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12751 | $61,726 | $75,209 | $97,822 | $197,258 | $371,549 |
Source: Ownwell
Property Tax Bills Across Kiamesha Lake, New York
In Kiamesha Lake, located in Sullivan County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Homeowners in Kiamesha Lake see a range of property tax bills, with the 25th percentile at $895, indicating that a quarter of the homes have tax bills below this amount. On the higher end, the 75th percentile tax bill reaches $3,651, and the 90th percentile climbs to $4,823, reflecting the upper range of property tax liabilities in the area. These tax bills are influenced by various factors including the property's assessed value, local tax rates, and any applicable exemptions or abatements. For instance, the median home price in Kiamesha Lake is $97,822, which plays a crucial role in determining tax obligations. With the national median property tax rate at 0.99%, homeowners in Kiamesha Lake experience a range of tax burdens that can significantly impact their annual finances.
Average Kiamesha Lake Tax Bill
$2,749
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 Kiamesha Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12751 | $677 | $895 | $2,749 | $3,651 | $4,823 |
Source: Ownwell