Swan Lake, New York Property Taxes
The median property tax rate in Swan Lake, NY is 2.22%, 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 Swan Lake, the typical annual property tax bill reaches $3,005, exceeding the national median of $2,690. Property taxes in Swan Lake 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 Swan Lake'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 Swan Lake 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
Swan Lake, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$3,601
$3,561
Ownwell’s Swan Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swan Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swan Lake 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 Sullivan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Swan Lake, New York
Property taxes in Swan Lake, New York, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Swan Lake is 2.22%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Swan Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swan Lake 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 Swan Lake's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12783 has the highest median property tax rate of 2.22%, which is also the lowest median tax rate in the area. Understanding how these cities compare with Swan Lake 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 Swan Lake Tax Rate
2.22%
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 Swan Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12783 | 1.15% | 1.55% | 2.22% | 2.22% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Swan Lake, New York
In Swan Lake, 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 Swan Lake, 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. The median home price in Swan Lake is $162,214, with tax bills ranging from $1,864 at the 25th percentile to $7,092 at the 90th percentile. 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 Swan Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Swan Lake Assessed Value
$162,214
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 Swan Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12783 | $70,808 | $100,424 | $162,214 | $244,150 | $320,112 |
Source: Ownwell
Property Tax Bills Across Swan Lake, New York
In Swan Lake, located in Sullivan County, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Swan Lake experience a range of property tax bills. The 25th percentile tax bill stands at $1,864, while the 75th percentile reaches $4,841, and the 90th percentile climbs to $7,092. This variability highlights the significant impact of property characteristics and market conditions on tax obligations. The highest median tax bill in the area is $3,005, which is notably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax responsibilities and plan accordingly, ensuring they are prepared for their annual property tax commitments.
Average Swan Lake Tax Bill
$3,005
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 Swan Lake, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12783 | $912 | $1,864 | $3,005 | $4,841 | $7,092 |
Source: Ownwell