Eddyville, New York Property Taxes
The median property tax rate in Eddyville, NY is 3.11%, 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 Eddyville, the typical annual property tax bill reaches $1,232, exceeding the national median of $2,690. Property taxes in Eddyville 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 Eddyville'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 Eddyville 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
Eddyville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.11%
Estimate Property Tax Bill
$1,233
$1,219
Ownwell’s Eddyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eddyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eddyville 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 Eddyville, New York
Property taxes in Eddyville, 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 Eddyville is 3.11%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Eddyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eddyville 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 Eddyville's effective property tax rate to other counties in New York and the national median. For comparison, the 12401 zip code has the highest median property tax rate of 3.11%, while the same zip code also has the lowest median tax rate of 3.11%. Understanding how these cities compare with Eddyville 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 Eddyville Tax Rate
3.11%
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 Eddyville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | 3.11% | 3.11% | 3.11% | 3.11% | 3.11% |
Source: Ownwell
Property Tax Assessment Values Across Eddyville, New York
In Eddyville, 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 Assessment 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 Eddyville, 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 Eddyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12401 has both the highest and lowest median tax bills, each at $1,232.
Average Eddyville Assessed Value
$39,636
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 Eddyville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | $39,636 | $39,636 | $39,636 | $39,636 | $39,636 |
Source: Ownwell
Property Tax Bills Across Eddyville, New York
In Eddyville, located in Ulster County, NY, property tax bills are calculated based on the assessed value of a home, not its market value. The local tax assessor determines this assessed value, which is then multiplied by the local tax rate to generate the annual tax bill. For instance, with a median home price of $39,636, homeowners can expect to pay a median property tax bill of $1,232. This amount is consistent across the 25th, 75th, and 90th percentiles, indicating a uniform tax rate application. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In comparison to the national median property tax rate of 0.99%, Eddyville's rate results in a significantly higher tax burden for its residents. This substantial tax bill can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Eddyville Tax Bill
$1,232
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 Eddyville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12401 | $1,232 | $1,232 | $1,232 | $1,232 | $1,232 |
Source: Ownwell