North Branch, New York Property Taxes
The median property tax rate in North Branch, NY is 1.20%, which is considerably 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 $191,441 in North Branch, the typical annual property tax bill reaches $2,341, which is below the national median of $2,690. Property taxes in North Branch are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. Gaining a thorough understanding of North Branch'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 North Branch or another part of Sullivan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Branch, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,297
$2,132
Ownwell’s North Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Branch 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 North Branch, New York
Property taxes in North Branch, 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 North Branch is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Branch set these rates annually, and they can vary across different neighborhoods. Each year, North Branch 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 North Branch's effective property tax rate to other areas and the national median. For comparison, the zip code 12766 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with North Branch 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 North Branch Tax Rate
1.20%
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 North Branch, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12766 | 0.94% | 1.15% | 1.20% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across North Branch, New York
In North Branch, 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 North Branch, 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 North Branch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 12766, both at $2,341.
Average North Branch Assessed Value
$191,441
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 North Branch, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12766 | $90,203 | $135,135 | $191,441 | $304,336 | $427,928 |
Source: Ownwell
Property Tax Bills Across North Branch, New York
In North Branch, located in Sullivan County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the home's market value, any applicable exemptions, and the specific tax rates set by local taxing authorities. For example, the median home price in North Branch is $191,441. Homeowners in the 25th percentile can expect a tax bill around $1,460, while those in the 75th percentile might see a bill closer to $3,624. For the top 10% of homeowners, tax bills can reach up to $4,688. These property taxes significantly impact homeowners, affecting their annual expenses and potentially influencing decisions on buying or selling property. Comparing this to the national median property tax rate of 0.99%, North Branch's rates reflect the specific economic and administrative conditions of the area.
Average North Branch Tax Bill
$2,341
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 North Branch, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12766 | $1,008 | $1,460 | $2,341 | $3,624 | $4,688 |
Source: Ownwell