Loch Sheldrake, New York Property Taxes
The median property tax rate in Loch Sheldrake, NY is 1.89%, 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 Loch Sheldrake at $149,036, the typical annual property tax bill reaches $3,033, exceeding the national median of $2,690. Property taxes in Loch Sheldrake 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 Loch Sheldrake'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 Loch Sheldrake 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
Loch Sheldrake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$2,817
$2,614
Ownwell’s Loch Sheldrake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loch Sheldrake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loch Sheldrake 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 Loch Sheldrake, New York
Property taxes in Loch Sheldrake, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loch Sheldrake is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within Loch Sheldrake set these rates annually, and they can vary across different neighborhoods. Each year, Loch Sheldrake 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 Loch Sheldrake's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12759 has the highest median property tax rate of 1.89%, while the same zip code also has the lowest median tax rate of 1.89%. Understanding how these cities compare with Loch Sheldrake 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 Loch Sheldrake Tax Rate
1.89%
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 Loch Sheldrake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12759 | 1.53% | 1.76% | 1.89% | 2.22% | 3.90% |
Source: Ownwell
Property Tax Assessment Values Across Loch Sheldrake, New York
In Loch Sheldrake, 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 local 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 Loch Sheldrake, 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 Loch Sheldrake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12759 has the highest and lowest median tax bill, both at $3,033, highlighting the uniformity in tax assessments in the area.
Property Tax Assessment Values Across Loch Sheldrake, New York
Source: Ownwell
$29,135
$166,546
$303,956
Average Loch Sheldrake Assessed Value
$149,036
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 Loch Sheldrake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12759 | $67,234 | $104,214 | $149,036 | $183,774 | $242,985 |
Source: Ownwell
Property Tax Bills Across Loch Sheldrake, New York
In Loch Sheldrake, located in Sullivan County, NY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and is a percentage of the property's market value. Key factors influencing the tax bill include the property's location, size, and condition, along with the local tax rate set by the county. Homeowners in Loch Sheldrake can expect varying tax bills. For instance, those at the 25th percentile pay around $2,046, while those at the 75th percentile face bills closer to $3,824. At the higher end, the 90th percentile sees tax bills reaching up to $4,974. These figures highlight the significant range in property tax obligations within the area. Compared to the national median property tax rate of 0.99%, Loch Sheldrake's tax rates can be relatively high, impacting homeowners' annual expenses significantly. Understanding these factors is crucial for current and prospective homeowners to budget effectively for their property tax responsibilities.
Average Loch Sheldrake Tax Bill
$3,033
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 Loch Sheldrake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12759 | $1,417 | $2,046 | $3,033 | $3,824 | $4,974 |
Source: Ownwell