Greenfield Park, New York Property Taxes
The median property tax rate in Greenfield Park, NY is 2.79%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Greenfield Park at $168,148, the typical annual property tax bill reaches $4,586, far exceeding the national median of $2,690. Property taxes in Greenfield Park 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 Greenfield Park'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 Greenfield Park 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
Greenfield Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.79%
Estimate Property Tax Bill
$4,691
$4,353
Ownwell’s Greenfield Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield Park 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 Greenfield Park, New York
Property taxes in Greenfield Park, New York, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Greenfield Park is 2.79%, significantly higher than both the New York state median of 1.23% and the U.S. national median of 0.99%. Local government entities within Greenfield Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield Park 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 Greenfield Park's effective property tax rate to other counties in New York and the national median. For comparison, the 12435 zip code has the highest median property tax rate of 2.79%, while the lowest median tax rate is also 2.79% in the same zip code. Understanding how these areas compare with Greenfield Park 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 Greenfield Park Tax Rate
2.79%
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 Greenfield Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12435 | 2.73% | 2.79% | 2.79% | 2.79% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield Park, New York
In Greenfield Park, 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 local 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 Greenfield Park, 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. The highest median tax bill in Greenfield Park is $4,586 in the 12435 zip code, while the lowest is also $4,586 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Greenfield Park, New York
Source: Ownwell
$11,940
$325,334
$638,727
Average Greenfield Park Assessed Value
$168,148
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 Greenfield Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12435 | $55,556 | $95,679 | $168,148 | $251,975 | $313,333 |
Source: Ownwell
Property Tax Bills Across Greenfield Park, New York
In Greenfield Park, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. These assessed values are then multiplied by the local tax rate, which is influenced by the budgetary needs of the county and other taxing authorities. Homeowners in Greenfield Park, located in Ulster County, face a range of property tax bills. For instance, the tax bill at the 25th percentile is $2,669, while at the 75th percentile, it reaches $7,029. At the 90th percentile, homeowners might see a tax bill as high as $8,741. The median home price in Greenfield Park is $168,148, and the property tax rate is higher than the national median of 0.99%. This means that property taxes can significantly impact household budgets, especially for those with homes assessed at higher values. The highest median tax bill in the area is $4,586, found in the 12435 zip code, which underscores the variability in tax burdens within the region.
Average Greenfield Park Tax Bill
$4,586
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 Greenfield Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12435 | $1,550 | $2,669 | $4,586 | $7,029 | $8,741 |
Source: Ownwell