Parksville, New York Property Taxes
The median property tax rate in Parksville, NY is 1.75%, significantly higher than the national median of 0.99% but lower than the New York state median of 2.39%. With the median home value in Parksville at $133,524, the typical annual property tax bill amounts to $2,152, which is below the national median of $2,690. Property taxes in Parksville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parksville'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 Parksville 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
Parksville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$2,337
$2,168
Ownwell’s Parksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parksville 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 Parksville, New York
Property taxes in Parksville, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parksville is 1.75%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Parksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parksville 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 Parksville's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 12768 has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these areas compare with Parksville 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 Parksville Tax Rate
1.75%
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 Parksville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12768 | 1.10% | 1.29% | 1.75% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Parksville, New York
In Parksville, 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's Office 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 Parksville, 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 Parksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Parksville, the highest and lowest median tax bills are both $2,152, found in the 12768 zip code.
Average Parksville Assessed Value
$133,524
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 Parksville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12768 | $50,333 | $86,857 | $133,524 | $195,048 | $266,790 |
Source: Ownwell
Property Tax Bills Across Parksville, New York
In Parksville, 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 tax assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For example, the median home price in Parksville is $133,524. Homeowners in the 25th percentile pay around $1,201, while those in the 75th percentile pay approximately $3,427. In some cases, property tax bills can reach up to $4,967, as seen in the 90th percentile. The highest and lowest median tax bills in the area are both $2,152, indicating a significant variance in tax burdens depending on specific property assessments. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors affect their tax bill can help them better manage their financial planning and property investments.
Average Parksville Tax Bill
$2,152
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 Parksville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12768 | $594 | $1,201 | $2,152 | $3,427 | $4,967 |
Source: Ownwell