Lily Dale, New York Property Taxes
The median property tax rate in Lily Dale, NY is 3.34%, 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 Lily Dale, the typical annual property tax bill reaches $1,485, exceeding the national median of $2,690. Property taxes in Lily Dale 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 Lily Dale'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 Lily Dale 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
Lily Dale, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.34%
Estimate Property Tax Bill
$1,434
$1,418
Ownwell’s Lily Dale Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lily Dale with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lily Dale to provide an estimate of 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 Lily Dale, New York
Property taxes in Lily Dale, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lily Dale is 3.34%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lily Dale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lily Dale 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 Lily Dale's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14752 has the highest median property tax rate of 3.34%, while the same zip code also has the lowest median tax rate of 3.34%. Understanding how these cities compare with Lily Dale provides valuable insights into the varying tax landscape across Chautauqua County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lily Dale Tax Rate
3.34%
Average Chautauqua County Tax Rate
2.90%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lily Dale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14752 | 2.73% | 3.04% | 3.34% | 3.77% | 4.01% |
Source: Ownwell
Property Tax Assessment Values Across Lily Dale, New York
In Lily Dale, 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 Chautauqua 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 Lily Dale, 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 Lily Dale 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 $1485, which is also the lowest, found in zip code 14752.
Average Lily Dale Assessed Value
$42,933
Average Chautauqua County Assessed Value
$91,916
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lily Dale, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14752 | $25,413 | $30,000 | $42,933 | $64,634 | $104,160 |
Source: Ownwell
Property Tax Bills Across Lily Dale, New York
Property tax bills in Lily Dale, located in Chautauqua County, NY, are calculated based on the assessed value of a property. This assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. For instance, with a median home price of $42,933, homeowners can expect their tax bills to vary significantly. Factors such as location, property size, and improvements can influence the assessed value, thus affecting the tax bill. In Lily Dale, the tax bills range notably, reflecting the diversity in property values and assessments. The 25th percentile tax bill is around $1,151, while the 75th percentile tax bill reaches $2,066. For those in the 90th percentile, tax bills can climb to $3,104. These figures indicate a wide range of property tax obligations, impacting homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Lily Dale's property tax rates can be considered relatively high, influencing the overall cost of homeownership in the area.
Average Lily Dale Tax Bill
$1,485
Average Chautauqua County Tax Bill
$2,807
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lily Dale, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14752 | $1,030 | $1,151 | $1,485 | $2,066 | $3,104 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chautauqua Assessment Review Commission | |
| Website | chautauquacounty.maps.arcgis.com |