Leon, New York Property Taxes
The median property tax rate in LEON, NY is 1.77%, 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 LEON, the typical annual property tax bill reaches $942, which is significantly below the national median of $2,690. Property taxes in LEON are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding LEON'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 LEON 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
Leon, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$940
$929
Ownwell’s Leon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leon 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 Leon, New York
Property taxes in LEON, 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 LEON is 1.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within LEON set these rates annually, and they can vary significantly across different neighborhoods. Each year, LEON 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 LEON's effective property tax rate to other counties in New York and the national median. For comparison, the 14751 zip code has the highest median property tax rate of 1.77%, while the same 14751 zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with LEON provides valuable insights into the varying tax landscape across Cattaraugus, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leon Tax Rate
1.77%
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 Leon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14751 | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Leon, New York
In LEON, 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 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 LEON, 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 LEON helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 14751, with a median bill of $942, which also happens to be the lowest.
Average Leon Assessed Value
$53,082
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 Leon, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14751 | $13,904 | $28,596 | $53,082 | $77,568 | $92,260 |
Source: Ownwell
Property Tax Bills Across Leon, New York
In Leon, NY, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Leon, the median home price is $53,082. Property tax bills vary significantly, with the 25th percentile bill at $507 and the 75th percentile bill at $1,376. The 90th percentile bill reaches up to $1,637. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or abatements. For example, a property in the zip code 14751 has the highest median tax bill at $942.00. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Leon's tax rates reflect the local government's fiscal policies and priorities.
Average Leon Tax Bill
$942
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 Leon, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14751 | $247 | $507 | $942 | $1,376 | $1,637 |
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 |