Port Crane, New York Property Taxes
The median property tax rate in Port Crane, NY is 2.98%, 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 Port Crane at $104,062, the typical annual property tax bill reaches $3,099, exceeding the national median of $2,690. Property taxes in Port Crane 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 Port Crane'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 Port Crane 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
Port Crane, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$3,101
$3,066
Ownwell’s Port Crane Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Port Crane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Crane 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 Chenango County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Port Crane, New York
Property taxes in Port Crane, New York, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Crane is 2.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Port Crane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Crane 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 Port Crane's effective property tax rate to other counties in New York and the national median. For comparison, the 13833 zip code has both the highest and lowest median property tax rate of 2.98%, as it is the only rate available for this region. Understanding how these cities compare with Port Crane provides valuable insights into the varying tax landscape across Chenango County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Port Crane Tax Rate
2.98%
Average Chenango County Tax Rate
3.08%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Port Crane, New York
In Port Crane, 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 Chenango County Assessor's 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 Port Crane, 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 Port Crane 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 $3099 in the 13833 zip code, while the lowest is also $3099 in the same zip code.
Average Port Crane Assessed Value
$104,062
Average Chenango County Assessed Value
$92,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | $74,812 | $85,781 | $104,062 | $122,344 | $133,312 |
Source: Ownwell
Property Tax Bills Across Port Crane, New York
In Port Crane, Chenango County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in this area face a median home price of $104,062. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. The resulting assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the final tax bill, including property size, improvements, and location. For example, tax bills in Port Crane range widely; the 25th percentile tax bill is approximately $2,554, while the 75th percentile tax bill reaches $3,643. At the 90th percentile, homeowners could pay up to $3,970. This variation highlights how different property characteristics and local tax policies impact the amount owed. Compared to the national median property tax rate of 0.99%, homeowners in Port Crane may experience higher tax rates, significantly affecting their annual expenses and overall cost of homeownership.
Average Port Crane Tax Bill
$3,099
Average Chenango County Tax Bill
$2,965
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | $2,228 | $2,554 | $3,099 | $3,643 | $3,970 |
Source: Ownwell