Forestville, New York Property Taxes
The median property tax rate in Forestville, NY is 1.47%, 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 Forestville, the typical annual property tax bill reaches $2,344, slightly below the national median of $2,690. Property taxes in Forestville 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 Forestville'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 Forestville 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
Forestville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$2,411
$2,384
Ownwell’s Forestville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forestville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forestville 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 Forestville, New York
Property taxes in Forestville, 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 Forestville is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Forestville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forestville 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 Forestville's effective property tax rate to other areas in Cattaraugus County and the national median. For comparison, the 14062 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these areas compare with Forestville 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 Forestville Tax Rate
1.47%
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 Forestville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14062 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Forestville, New York
In Forestville, 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 Cattaraugus 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 Forestville, 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 Forestville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Forestville's highest and lowest median tax bills are both $2,344, found in the 14062 zip code.
Average Forestville Assessed Value
$164,000
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 Forestville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14062 | $115,320 | $156,100 | $164,000 | $178,300 | $184,840 |
Source: Ownwell
Property Tax Bills Across Forestville, New York
In Forestville, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's location, size, and any improvements made. For instance, the median home price in Forestville stands at $164,000, with tax bills ranging from $2,230 at the 25th percentile to $2,622 at the 90th percentile. This variability highlights how different property characteristics and local assessments can impact tax amounts. Compared to the national median property tax rate of 0.99%, Forestville's rates are relatively higher, reflecting the specific fiscal needs and policies of Cattaraugus County. Homeowners in Forestville should be aware of these factors as they directly affect their financial planning and overall housing costs. Understanding the assessment process and keeping track of any changes in property value or tax rates can help homeowners manage their expenses more effectively.
Average Forestville Tax Bill
$2,344
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 Forestville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14062 | $1,420 | $2,230 | $2,344 | $2,567 | $2,622 |
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 |