Diamond Point, New York Property Taxes
The median property tax rate in Diamond Point, NY is 0.82%, which is lower than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $368,500 in Diamond Point, the typical annual property tax bill amounts to $3,722, significantly higher than the national median of $2,690. Property taxes in Diamond Point are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Diamond Point's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Diamond Point or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Diamond Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$3,022
$2,988
Ownwell’s Diamond Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Diamond Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Diamond Point 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 Diamond Point, New York
Property taxes in Diamond Point, 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 Diamond Point is 0.82%, which is lower than both the New York state median and the U.S. national median of 0.99%. Local government entities within Diamond Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diamond Point 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 Diamond Point's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12824 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Diamond Point provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Diamond Point Tax Rate
0.82%
Average Warren County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diamond Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12824 | 0.82% | 0.82% | 0.82% | 1.11% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Diamond Point, New York
In Diamond Point, 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 Warren 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 Diamond Point, 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 here is $368,500, with tax bills ranging from $2,220 at the 25th percentile to $18,109 at the 90th percentile. The zip code with both the highest and lowest median tax bills is 12824, with a median tax bill of $3,722. 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 Diamond Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Diamond Point Assessed Value
$368,500
Average Warren County Assessed Value
$215,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Diamond Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12824 | $102,077 | $220,028 | $368,500 | $857,778 | $2,092,222 |
Source: Ownwell
Property Tax Bills Across Diamond Point, New York
In Diamond Point, located in Warren County, NY, 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 property tax bill. For homeowners in Diamond Point, the median home price is $368,500. Property tax bills can vary significantly, with the 25th percentile paying around $2,220 and the 75th percentile paying up to $7,746. At the higher end, the 90th percentile sees tax bills reaching as much as $18,109. Several factors influence these amounts, including property size, location, and any applicable exemptions. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Diamond Point's rates reflect the local economic conditions and public service needs, making it essential for homeowners to understand how their tax bills are determined and what they fund.
Average Diamond Point Tax Bill
$3,722
Average Warren County Tax Bill
$4,027
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Diamond Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12824 | $1,192 | $2,220 | $3,722 | $7,746 | $18,109 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Warren Assessment Review Commission | |
| Website | imo.warrencountyny.gov |