Phoenicia, New York Property Taxes
The median property tax rate in Phoenicia, NY is 1.71%, 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 Phoenicia, the typical annual property tax bill reaches $3,473, exceeding the national median of $2,690. Property taxes in Phoenicia 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 Phoenicia'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 Phoenicia or another part of Ulster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phoenicia, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$3,475
$3,225
Ownwell’s Phoenicia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Phoenicia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phoenicia 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 Ulster County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Phoenicia, New York
Property taxes in Phoenicia, 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 Phoenicia is 1.71%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Phoenicia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phoenicia 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. Understanding how Phoenicia's effective property tax rate compares to other areas 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 Phoenicia Tax Rate
1.71%
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 Phoenicia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12464 | 1.71% | 1.71% | 1.71% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Phoenicia, New York
In Phoenicia, 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 Phoenicia, 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 Phoenicia is $203,243, with the 25th percentile tax bill at $2,390 and the 75th percentile tax bill at $4,821. The highest and lowest median tax bills are both $3,473, found in zip code 12464. 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 Phoenicia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Phoenicia Assessed Value
$203,243
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 Phoenicia, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12464 | $97,406 | $141,081 | $203,243 | $278,919 | $378,054 |
Source: Ownwell
Property Tax Bills Across Phoenicia, New York
In Phoenicia, located in Ulster County, NY, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Phoenicia is $203,243. Homeowners can expect their tax bills to vary widely, with the 25th percentile tax bill at $2,390 and the 75th percentile tax bill reaching $4,821. For those in the 90th percentile, tax bills can be as high as $6,452. Several factors influence these tax bills, including the property's assessed value, which is determined by local assessors, and the specific tax rates set by local taxing authorities. These rates can fluctuate based on budgetary needs and community services funded by property taxes. Compared to the national median property tax rate of 0.99%, homeowners in Phoenicia may find their tax rates higher or lower depending on these local assessments and rates. This variability impacts homeowners' financial planning, making it crucial to understand how local property taxes are calculated.
Average Phoenicia Tax Bill
$3,473
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 Phoenicia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12464 | $1,642 | $2,390 | $3,473 | $4,821 | $6,452 |
Source: Ownwell