Castle Creek, New York Property Taxes
The median property tax rate in Castle Creek, NY is 2.99%, 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 Castle Creek, the typical annual property tax bill reaches $3,018, exceeding the national median of $2,690. Property taxes in Castle 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 Castle 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 Castle 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
Castle Creek, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$3,151
$3,116
Ownwell’s Castle Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castle Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castle 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 Castle Creek, New York
Property taxes in Castle Creek, 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 Castle Creek is 2.99%, significantly higher than the U.S. national median of 0.99%. Local government entities within Castle Creek set these rates annually, and they can vary across different neighborhoods. Each year, Castle 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 Castle Creek's effective property tax rate to other areas in Broome County and the national median. For comparison, the 13744 zip code has the highest median property tax rate of 2.99%, while the same zip code also has the lowest median tax rate of 2.99%. Understanding how these areas compare with Castle Creek provides valuable insights into the varying tax landscape across Broome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castle Creek Tax Rate
2.99%
Average Broome County Tax Rate
3.50%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castle Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13744 | 2.59% | 2.60% | 2.99% | 3.03% | 3.41% |
Source: Ownwell
Property Tax Assessment Values Across Castle Creek, New York
In Castle Creek, 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 Broome County Assessor 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 Castle 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median property tax bill in Castle Creek is $3,018, with the highest and lowest median tax bills both found in zip code 13744. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Castle Creek Assessed Value
$105,400
Average Broome County Assessed Value
$113,808
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castle Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13744 | $45,100 | $76,778 | $105,400 | $154,077 | $195,500 |
Source: Ownwell
Property Tax Bills Across Castle Creek, New York
Property tax bills in Castle Creek, Broome County, NY, are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the total tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Castle Creek, the median home price is $105,400, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $2,209, while the 75th percentile tax bill reaches $4,605, and the 90th percentile hits $5,978. The highest median tax bill in the region is $3,018, found in the 13744 zip code. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Castle Creek's property tax bills suggest a higher-than-average burden, making it crucial for homeowners to understand these factors to effectively manage their finances.
Average Castle Creek Tax Bill
$3,018
Average Broome County Tax Bill
$4,421
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Castle Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13744 | $1,318 | $2,209 | $3,018 | $4,605 | $5,978 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Broome Assessment Review Commission | |
| Website | gis.broomecountyny.gov |