Narrowsburg, New York Property Taxes
The median property tax rate in Narrowsburg, NY is 1.15%, considerably higher than the national median of 0.99%, yet significantly lower than the New York state median of 2.39%. With the median home value in Narrowsburg, the typical annual property tax bill reaches $2,472, which is below the national median of $2,690. Property taxes in Narrowsburg are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Narrowsburg'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 Narrowsburg 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
Narrowsburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,525
$2,496
Ownwell’s Narrowsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Narrowsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Narrowsburg 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 Narrowsburg, New York
Property taxes in Narrowsburg, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Narrowsburg is 1.15%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Narrowsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Narrowsburg 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 Narrowsburg's effective property tax rate to other counties in New York and the national median. For comparison, the 12764 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Narrowsburg 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 Narrowsburg Tax Rate
1.15%
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 Narrowsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12764 | 0.95% | 1.15% | 1.15% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Narrowsburg, New York
In Narrowsburg, 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 Narrowsburg, 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 Narrowsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12764 has both the highest and lowest median tax bill, valued at $2,472.
Average Narrowsburg Assessed Value
$219,552
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 Narrowsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12764 | $83,120 | $151,593 | $219,552 | $298,111 | $410,560 |
Source: Ownwell
Property Tax Bills Across Narrowsburg, New York
In Narrowsburg, 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. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $219,552, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Several factors influence the assessed value, including the property's market value, condition, and any improvements made. Homeowners in Narrowsburg typically see tax bills ranging from the 25th percentile at $1,672 to the 75th percentile at $3,378, with the 90th percentile reaching up to $4,296. The highest and lowest median tax bills in the area are both $2,472, indicating a consistent tax rate within the zip code 12764. Compared to the national median property tax rate of 0.99%, Narrowsburg's property tax rate can significantly impact homeowners, making it crucial for them to understand how their tax bills are calculated and what factors are considered.
Average Narrowsburg Tax Bill
$2,472
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 Narrowsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12764 | $914 | $1,672 | $2,472 | $3,378 | $4,296 |
Source: Ownwell