High Falls, New York Property Taxes
The median property tax rate in High Falls, NY is 1.88%, 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 High Falls at $335,714, the typical annual property tax bill reaches $6,282, exceeding the national median of $2,690. Property taxes in High Falls 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 High Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of High Falls 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
High Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$6,311
$6,240
Ownwell’s High Falls Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in High Falls using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in High Falls to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities with ease. For those interested in more granular trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Ulster County for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across High Falls, New York
Property taxes in High Falls, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in High Falls is 1.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within High Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, High Falls 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 High Falls' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12440 has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these cities compare with High Falls 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 High Falls Tax Rate
1.88%
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 High Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12440 | 1.81% | 1.81% | 1.88% | 1.90% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across High Falls, New York
In High Falls, 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 Assessor 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 High Falls, 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. For instance, the median home price in High Falls is $335,714. The tax bills can vary significantly, with the 25th percentile tax bill at $4,123 and the 90th percentile reaching up to $12,707. 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 High Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average High Falls Assessed Value
$335,714
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 High Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12440 | $158,176 | $214,904 | $335,714 | $471,472 | $706,357 |
Source: Ownwell
Property Tax Bills Across High Falls, New York
In High Falls, located in Ulster County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Various factors, including the property's size, location, and market conditions, influence the assessed value. For homeowners in High Falls, the median home price is $335,714, and property tax bills can vary significantly. The 25th percentile of tax bills is around $4,123, while the 75th percentile reaches up to $8,866. At the 90th percentile, homeowners might see bills as high as $12,707. These figures indicate that property taxes in High Falls can be quite substantial compared to the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing the overall cost of homeownership, influencing their budgeting and financial planning. This underscores the importance of understanding local tax rates and assessments when purchasing property in High Falls.
Average High Falls Tax Bill
$6,282
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 High Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12440 | $3,157 | $4,123 | $6,282 | $8,866 | $12,707 |
Source: Ownwell