West Park, New York Property Taxes
The median property tax rate in West Park, NY is 2.69%, 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 West Park, the typical annual property tax bill reaches $7,018, far exceeding the national median of $2,690. Property taxes in West Park 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 West 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 West 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
West Park, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$7,750
$7,191
Ownwell’s West Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West 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 West Park, New York
Property taxes in West Park, 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 West Park is 2.69%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within West Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, West 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 West Park's effective property tax rate to other counties in New York and the national median. For comparison, the 12493 zip code has the highest median property tax rate of 2.69%, while the same zip code also has the lowest median tax rate of 2.69%. Understanding how these cities compare with West 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 West Park Tax Rate
2.69%
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 West Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12493 | 2.46% | 2.67% | 2.69% | 2.69% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across West Park, New York
In West 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 Ulster County Assessment Department 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 West 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. Being aware of these valuation processes in West Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both amount to $7,018, found in zip code 12493.
Average West Park Assessed Value
$288,090
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 West Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12493 | $166,653 | $210,629 | $288,090 | $514,239 | $1,122,857 |
Source: Ownwell
Property Tax Bills Across West Park, New York
In West Park, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For instance, in Ulster County, where West Park is located, the median home price is $288,090. Homeowners in this area can expect a wide range of tax bills, with the 25th percentile paying around $5,615 and the 75th percentile paying up to $11,390. Several factors influence the property tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. These factors can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, West Park's property taxes can be relatively high, affecting how much homeowners need to budget annually for these expenses. The highest median tax bill in the area is $7,018, indicating that property taxes can be a substantial cost for residents.
Average West Park Tax Bill
$7,018
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 West Park, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12493 | $4,326 | $5,615 | $7,018 | $11,390 | $26,542 |
Source: Ownwell