South Fallsburg, New York Property Taxes
The median property tax rate in South Fallsburg, NY is 1.94%, 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 South Fallsburg at $135,589, the typical annual property tax bill reaches $2,757, exceeding the national median of $2,690. Property taxes in South Fallsburg 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 South Fallsburg’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 South Fallsburg 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
South Fallsburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$2,630
$2,441
Ownwell’s South Fallsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Fallsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Fallsburg 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 South Fallsburg, New York
Property taxes in South Fallsburg, 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 South Fallsburg is 1.94%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within South Fallsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Fallsburg 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 South Fallsburg's effective property tax rate to other counties in New York and the national median. For comparison, the 12779 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these areas compare with South Fallsburg 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 South Fallsburg Tax Rate
1.94%
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 South Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12779 | 1.33% | 1.78% | 1.94% | 2.45% | 3.98% |
Source: Ownwell
Property Tax Assessment Values Across South Fallsburg, New York
In South Fallsburg, 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 South Fallsburg, 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 South Fallsburg 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 12779, with a median tax bill of $2,757.
Property Tax Assessment Values Across South Fallsburg, New York
Source: Ownwell
$29,135
$166,546
$303,956
Average South Fallsburg Assessed Value
$135,589
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 South Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12779 | $76,020 | $103,093 | $135,589 | $185,903 | $268,624 |
Source: Ownwell
Property Tax Bills Across South Fallsburg, New York
In South Fallsburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in South Fallsburg, located in Sullivan County, experience property tax bills that vary significantly. The median home price in the area is $135,589. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For example, tax bills in the 25th percentile average around $1,998, while those in the 75th percentile can reach up to $4,074. The top 10% of property tax bills can be as high as $5,834. Compared to the national median property tax rate of 0.99%, South Fallsburg's property taxes reflect the unique economic conditions and local government needs. Homeowners should be aware of these factors as they directly impact their annual financial obligations and the overall cost of owning a property in the area.
Average South Fallsburg Tax Bill
$2,757
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 South Fallsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12779 | $1,121 | $1,998 | $2,757 | $4,074 | $5,834 |
Source: Ownwell