Lew Beach, New York Property Taxes
The median property tax rate in Lew Beach, NY is 1.28%, which is higher than the national median of 0.99% but lower than the New York state median of 2.39%. With a median home value of $60,000 in Lew Beach, the typical annual property tax bill amounts to $769, which is below the national median of $2,690. Property taxes in Lew Beach are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Lew Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Lew Beach or its surrounding areas, a thorough grasp of the local property tax system is essential for financial efficiency.
Last Updated June 14, 2024
Lew Beach, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$768
$713
Ownwell’s Lew Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lew Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lew Beach 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 Lew Beach, New York
Property taxes in Lew Beach, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lew Beach is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lew Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lew Beach 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 Lew Beach's effective property tax rate to other areas in Sullivan County and the national median. For comparison, the zip code 12758 has both the highest and lowest median property tax rate of 1.28%. Understanding how these rates compare with Lew Beach 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 Lew Beach 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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Lew Beach, New York
In Lew Beach, 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 Assessor 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 Lew Beach, 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 Lew Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lew Beach are both $769, found in the zip code 12758.
Average Lew Beach Assessed Value
$60,000
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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 |
Source: Ownwell
Property Tax Bills Across Lew Beach, New York
In Lew Beach, located in Sullivan County, NY, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $60,000. The property tax rate applied to this assessed value determines the tax bill, which is influenced by local government budgets and the needs of the community. For example, the median property tax bill in Lew Beach is $769. This figure is consistent across various percentiles, reflecting a stable tax environment within the zip code 12758. When compared to the national median property tax rate of 0.99%, Lew Beach's tax rate appears to be higher. This can significantly affect homeowners, as higher property taxes can increase the overall cost of owning a home. It is essential for homeowners to understand these factors, as they directly impact their financial planning and long-term investment in their property. The uniformity in tax bills also suggests a relatively predictable tax burden for residents in this area.
Average Lew Beach Tax Bill
$769
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 Lew Beach, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12758 | $769 | $769 | $769 | $769 | $769 |
Source: Ownwell