Springville, New York Property Taxes
The median property tax rate in Springville, NY is 1.31%, higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Springville at $155,100, the typical annual property tax bill reaches $2,019, falling below the national median of $2,690. Property taxes in Springville 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 Springville'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 Springville 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
Springville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,032
$2,009
Ownwell’s Springville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springville 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 Springville, New York
Property taxes in Springville, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springville is 1.31%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Springville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springville 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 Springville's effective property tax rate to other areas in New York and the national median. For comparison, the 14141 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Springville 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 Springville Tax Rate
1.31%
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 Springville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14141 | 1.13% | 1.31% | 1.31% | 1.31% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Springville, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Springville, 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 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 Springville, 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 home price in Springville is $155,100, with annual tax bills ranging from $1,274 at the 25th percentile to $3,812 at the 90th percentile. The highest and lowest median tax bills are both $2,019, found in the 14141 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Springville Assessed Value
$155,100
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 Springville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14141 | $56,840 | $99,800 | $155,100 | $217,275 | $281,840 |
Source: Ownwell
Property Tax Bills Across Springville, New York
In Springville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Cattaraugus County, where Springville is located, the median home price is $155,100. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,274 and the 75th percentile tax bill reaching $2,893. The highest and lowest median tax bills in the area are both $2,019, indicating some consistency in tax assessments within certain zip codes like 14141. These tax bills can significantly impact homeowners, as higher property taxes can influence overall housing affordability. Compared to the national median property tax rate of 0.99%, Springville's rates are relatively competitive, making it a potentially attractive location for homeowners seeking manageable property tax expenses.
Average Springville Tax Bill
$2,019
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 Springville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14141 | $746 | $1,274 | $2,019 | $2,893 | $3,812 |
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 |