Black Creek, New York Property Taxes
The median property tax rate in Black Creek, NY is 3.56%, 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 Black Creek at $69,600, the typical annual property tax bill reaches $2,473, slightly below the national median of $2,690. Property taxes in Black Creek 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 Black Creek'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 Black Creek 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
Black Creek, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.56%
Estimate Property Tax Bill
$2,478
$2,450
Ownwell’s BLACK CREEK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLACK CREEK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLACK CREEK 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 Black Creek, New York
Property taxes in Black Creek, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Black Creek is 3.56%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Black Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Black Creek 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 Black Creek's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 14714 has the highest median property tax rate of 3.56%, while the same zip code also has the lowest median tax rate of 3.56%. Understanding how these areas compare with Black Creek provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Black Creek Tax Rate
3.56%
Average Allegany County Tax Rate
3.64%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Black Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14714 | 3.30% | 3.56% | 3.56% | 3.56% | 3.66% |
Source: Ownwell
Property Tax Assessment Values Across Black Creek, New York
In Black Creek, NY, 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 Allegany 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 Black Creek, 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 Black Creek is $69,600, with tax bills ranging from $1,635 at the 25th percentile to $5,512 at the 90th percentile. The highest and lowest median tax bills are both $2,473, occurring in the 14714 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Black Creek Assessed Value
$69,600
Average Allegany County Assessed Value
$72,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Black Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14714 | $24,620 | $45,650 | $69,600 | $107,000 | $162,700 |
Source: Ownwell
Property Tax Bills Across Black Creek, New York
Property tax bills in Black Creek, Allegany County, NY, are determined by the assessed value of a property and the local tax rate. The assessed value is an estimation of your property's market value, which is then multiplied by the tax rate set by local authorities. For example, the median home price in Black Creek is $69,600. The tax bill can vary significantly, with the 25th percentile at $1,635 and the 75th percentile at $3,821, reflecting differences in property values and applicable exemptions. For those at the higher end, the 90th percentile tax bill reaches $5,512. Comparatively, the national median property tax rate is 0.99%, highlighting that property taxes in Black Creek can be higher depending on individual property assessments. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as they directly impact annual expenses and the overall cost of homeownership in Black Creek.
Average Black Creek Tax Bill
$2,473
Average Allegany County Tax Bill
$2,710
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Black Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14714 | $966 | $1,635 | $2,473 | $3,821 | $5,512 |
Source: Ownwell