Wallkill, New York Property Taxes
The median property tax rate in Wallkill, NY is 2.68%, 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 Wallkill at $306,667, the typical annual property tax bill reaches $8,213, exceeding the national median of $2,690. Property taxes in Wallkill 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 Wallkill'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 Wallkill 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
Wallkill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$8,219
$8,126
Ownwell’s Wallkill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wallkill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wallkill 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 Wallkill, New York
Property taxes in Wallkill, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wallkill is 2.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wallkill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wallkill 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 Wallkill's effective property tax rate to other areas in Ulster County and the national median. For comparison, the zip code 12589 has the highest median property tax rate of 2.68%, while the same zip code also has the lowest median tax rate of 2.68%. Understanding how these cities compare with Wallkill 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 Wallkill Tax Rate
2.68%
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 Wallkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12589 | 2.47% | 2.66% | 2.68% | 2.74% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Wallkill, New York
In Wallkill, 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 Wallkill, 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 Wallkill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 12589, with a tax bill of $8,213.
Average Wallkill Assessed Value
$306,667
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 Wallkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12589 | $180,000 | $240,000 | $306,667 | $400,000 | $479,851 |
Source: Ownwell
Property Tax Bills Across Wallkill, New York
In Wallkill, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Wallkill face varying tax bills, with the 25th percentile paying around $6,350 and the 75th percentile facing bills up to $10,586. For those in the 90th percentile, tax bills can reach $12,776. The median home price in Wallkill is $306,667, which influences the assessed value and subsequently the tax bill. Compared to the national median property tax rate of 0.99%, Wallkill's tax rates can result in significantly higher tax bills. Homeowners in the 12589 zip code experience a median tax bill of $8,213, which is indicative of the local tax burden. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for Wallkill residents.
Average Wallkill Tax Bill
$8,213
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 Wallkill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12589 | $4,660 | $6,350 | $8,213 | $10,586 | $12,776 |
Source: Ownwell