West Edmeston, New York Property Taxes
The median property tax rate in West Edmeston, NY is 2.74%, 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 West Edmeston at $86,842, the typical annual property tax bill reaches $2,211, slightly below the national median of $2,690. Property taxes in West Edmeston are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding West Edmeston'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 West Edmeston 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
West Edmeston, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.74%
Estimate Property Tax Bill
$2,379
$2,353
Ownwell’s West Edmeston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in West Edmeston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Edmeston 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 West Edmeston, New York
Property taxes in West Edmeston, 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 West Edmeston is 2.74%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within West Edmeston set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Edmeston 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 West Edmeston's effective property tax rate to other counties in New York and the national median. For comparison, the 13485 zip code has both the highest and lowest median property tax rate of 2.74%. Understanding how these areas compare with West Edmeston 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 West Edmeston Tax Rate
2.74%
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 West Edmeston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13485 | 2.58% | 2.74% | 2.74% | 2.74% | 2.93% |
Source: Ownwell
Property Tax Assessment Values Across West Edmeston, New York
In West Edmeston, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 appraisal 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 West Edmeston, 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 West Edmeston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13485 has the highest and lowest median tax bill at $2,211.
Average West Edmeston Assessed Value
$86,842
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 West Edmeston, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13485 | $33,053 | $48,368 | $86,842 | $136,474 | $250,105 |
Source: Ownwell
Property Tax Bills Across West Edmeston, New York
In West Edmeston, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Chenango County assessor and reflects a percentage of the property's market value. Homeowners in this area face varying tax bills depending on their property's assessed value and applicable exemptions. For instance, the median home price in West Edmeston is $86,842. Tax bills can range significantly, with the 25th percentile at $1,296 and the 75th percentile at $3,682. At the 90th percentile, tax bills can reach as high as $6,535. The highest median tax bill in the area is $2,211, which is notably above the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners need to be aware of these taxes as they can significantly impact their annual expenses and overall financial planning.
Average West Edmeston Tax Bill
$2,211
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 West Edmeston, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13485 | $904 | $1,296 | $2,211 | $3,682 | $6,535 |
Source: Ownwell