Pine Valley, New York Property Taxes
The median property tax rate in Pine Valley, NY is 2.58%, 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 Pine Valley at $97,191, the typical annual property tax bill reaches $2,575, just below the national median of $2,690. Property taxes in Pine Valley 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 Pine Valley'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 Pine Valley 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
Pine Valley, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$2,508
$2,479
Ownwell’s Pine Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Valley 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 Pine Valley, New York
Property taxes in Pine Valley, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Valley is 2.58%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Pine Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Valley 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 Pine Valley's effective property tax rate to other counties in New York and the national median. For comparison, the 14872 zip code has the highest median property tax rate of 2.58%, while the same zip code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with Pine Valley provides valuable insights into the varying tax landscape across Chemung County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Valley Tax Rate
2.58%
Average Chemung County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Valley, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14872 | 2.45% | 2.56% | 2.58% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Pine Valley, New York
In Pine Valley, 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 Chemung County Assessment Office 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 Pine Valley, 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 Pine Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pine Valley are both $2575, found in zip code 14872.
Average Pine Valley Assessed Value
$97,191
Average Chemung County Assessed Value
$104,684
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Valley, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14872 | $27,148 | $68,428 | $97,191 | $158,540 | $241,573 |
Source: Ownwell
Property Tax Bills Across Pine Valley, New York
In Pine Valley, Chemung County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Pine Valley is $97,191. Homeowners can expect varying tax bills depending on their property's assessed value. For instance, tax bills at the 25th percentile are around $1,754, while those at the 75th percentile reach approximately $4,084. At the 90th percentile, tax bills can soar to $6,196. These figures highlight the significant variability in property tax bills within the area. The highest median tax bill in the region is $2,575, as seen in the zip code 14872. This amount is notably higher than the national median property tax rate of 0.99%, reflecting the local tax rate's impact on homeowners. Understanding these factors helps homeowners anticipate their financial obligations and better manage their budgets.
Average Pine Valley Tax Bill
$2,575
Average Chemung County Tax Bill
$3,435
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Valley, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14872 | $692 | $1,754 | $2,575 | $4,084 | $6,196 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chemung Assessment Review Commission | |
| Website | www.arcgis.com |