Gowanda, New York Property Taxes
The median property tax rate in Gowanda, NY is 1.26%, considerably higher than the national median of 0.99% but lower than the New York state median of 2.39%. With the median home value in Gowanda at $87,719, the typical annual property tax bill reaches $1,214, which is below the national median of $2,690. Property taxes in Gowanda 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 Gowanda'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 Gowanda 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
Gowanda, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,105
$1,093
Ownwell’s Gowanda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gowanda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gowanda 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 Gowanda, New York
Property taxes in Gowanda, New York, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Gowanda is 1.26%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Gowanda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gowanda 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 Gowanda's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 14070 has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these figures compare with Gowanda 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 Gowanda Tax Rate
1.26%
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 Gowanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14070 | 1.26% | 1.26% | 1.26% | 1.58% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Gowanda, New York
In Gowanda, 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 Gowanda, 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 Gowanda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 14070, with a median tax bill of $1,214.
Average Gowanda Assessed Value
$87,719
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 Gowanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14070 | $48,827 | $70,220 | $87,719 | $114,035 | $153,940 |
Source: Ownwell
Property Tax Bills Across Gowanda, New York
In Gowanda, located in Cattaraugus County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of the property. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $87,719, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Factors influencing the tax bill include property size, location, and any improvements made. Additionally, local government budgets and school district funding needs play a significant role in setting the tax rate. In Gowanda, the 25th percentile of tax bills is around $926, while the 75th percentile reaches $1,781, and the 90th percentile climbs to $2,550. These figures highlight the range of tax obligations homeowners might face, impacting their annual financial planning and overall cost of homeownership.
Average Gowanda Tax Bill
$1,214
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 Gowanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14070 | $631 | $926 | $1,214 | $1,781 | $2,550 |
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 |