Connelly, New York Property Taxes
The median property tax rate in Connelly, NY is 2.90%, 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 Connelly, the typical annual property tax bill reaches $5,073, exceeding the national median of $2,690. Property taxes in Connelly 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 Connelly'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 Connelly 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
Connelly, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.9%
Estimate Property Tax Bill
$5,324
$4,940
Ownwell’s Connelly Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Connelly. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Connelly to provide an accurate estimate of your property tax bill. This easy-to-use tool offers clarity on potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property's assessed value is determined by the county and is used for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Connelly, New York
Property taxes in Connelly, New York, are essential for funding key local services, including public schools, road maintenance, and emergency services. The median tax rate in Connelly is 2.90%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Connelly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Connelly 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 Connelly's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12417 has the highest median property tax rate of 2.90%, while the same zip code also has the lowest median tax rate of 2.90%. Understanding how these cities compare with Connelly provides valuable insights into the varying tax landscape across Ulster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Connelly Tax Rate
2.90%
Average Ulster County Tax Rate
2.67%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Connelly, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12417 | 2.81% | 2.90% | 2.90% | 2.90% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Connelly, New York
In Connelly, 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 Ulster 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 Connelly, 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 Connelly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12417 has the highest median tax bill of $5073, while the lowest median tax bill also stands at $5073.
Average Connelly Assessed Value
$183,571
Average Ulster County Assessed Value
$268,649
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Connelly, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12417 | $114,671 | $149,000 | $183,571 | $215,143 | $250,100 |
Source: Ownwell
Property Tax Bills Across Connelly, New York
In Connelly, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the Ulster County Assessor's Office. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $183,571, the property tax bill for homes in the 25th percentile is around $4,266, while those in the 75th percentile pay approximately $6,068. At the 90th percentile, homeowners can expect a tax bill of about $7,235. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Homeowners in Connelly pay a higher property tax rate compared to the national median of 0.99%, reflecting the region's commitment to maintaining robust public services. Understanding these factors can help homeowners anticipate their annual expenses and plan accordingly.
Average Connelly Tax Bill
$5,073
Average Ulster County Tax Bill
$6,879
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Connelly, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12417 | $3,088 | $4,266 | $5,073 | $6,068 | $7,235 |
Source: Ownwell