Farmersville Station, New York Property Taxes
The median property tax rate in Farmersville Station, NY is 1.64%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With a median home value of $88,947 in Farmersville Station, the typical annual property tax bill is $1,447, which is below the national median of $2,690. Property taxes in Farmersville Station 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 Farmersville Station'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 Farmersville Station 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
Farmersville Station, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$1,459
$1,442
Ownwell’s Farmersville Station Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmersville Station with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmersville Station 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 Farmersville Station, New York
Property taxes in Farmersville Station, 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 Farmersville Station is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Farmersville Station set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmersville Station 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 Farmersville Station's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14060 has both the highest and lowest median property tax rate of 1.64%. Understanding how these areas compare with Farmersville Station provides valuable insights into the varying tax landscape across Cattaraugus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farmersville Station Tax Rate
1.64%
Average Cattaraugus County Tax Rate
1.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmersville Station, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | 1.02% | 1.47% | 1.64% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Farmersville Station, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Farmersville Station, NY. 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 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 Farmersville Station, 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 Farmersville Station helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,447 in zip code 14060, which also has the lowest median tax bill at $1,447.
Property Tax Assessment Values Across Farmersville Station, New York
Source: Ownwell
$53,082
$148,503
$243,924
Average Farmersville Station Assessed Value
$88,947
Average Cattaraugus County Assessed Value
$88,597
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farmersville Station, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | $40,465 | $66,910 | $88,947 | $127,238 | $190,895 |
Source: Ownwell
Property Tax Bills Across Farmersville Station, New York
Property tax bills in Farmersville Station, located in Cattaraugus County, NY, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property based on its market value. Factors such as property size, location, and improvements can influence this assessment. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $88,947, homeowners in Farmersville Station can expect a median tax bill of around $1,447. This is significantly higher than the national median property tax rate of 0.99%, reflecting local funding needs and priorities. Property tax bills can vary widely within the area. Homeowners at the 25th percentile pay around $997, while those at the 75th percentile see bills of about $2,222. At the 90th percentile, tax bills can reach up to $3,008. These taxes fund essential services such as schools, infrastructure, and emergency services, directly impacting the quality of life and property values in the community.
Average Farmersville Station Tax Bill
$1,447
Average Cattaraugus County Tax Bill
$1,508
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmersville Station, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | $621 | $997 | $1,447 | $2,222 | $3,008 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Cattaraugus Assessment Review Commission | |
| Website | maps.cattco.org |