Downsville, New York Property Taxes
The median property tax rate in Downsville, NY is 2.45%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With the median home value in Downsville at $67,500, the typical annual property tax bill reaches $1,653, exceeding the national median of $2,690. Property taxes in Downsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Downsville'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 Downsville 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
Downsville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.45%
Estimate Property Tax Bill
$1,654
$1,635
Ownwell’s Downsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Downsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Downsville 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 Downsville, New York
Property taxes in Downsville, 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 Downsville is 2.45%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Downsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Downsville 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 Downsville's effective property tax rate to other counties in New York and the national median. For comparison, the 13755 zip code has the highest median property tax rate of 2.45%, while the same 13755 zip code also has the lowest median tax rate of 2.45%. Understanding how these cities compare with Downsville provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Downsville Tax Rate
2.45%
Average Delaware County Tax Rate
2.34%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Downsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13755 | 2.45% | 2.45% | 2.45% | 2.45% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Downsville, New York
In Downsville, 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 Delaware 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 Downsville, 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. In Downsville, the highest median tax bill is $1,653 in the 13755 zip code, while the lowest is also $1,653 in the same 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 Downsville Assessed Value
$67,500
Average Delaware County Assessed Value
$129,271
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Downsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13755 | $37,500 | $50,000 | $67,500 | $87,500 | $107,500 |
Source: Ownwell
Property Tax Bills Across Downsville, New York
In Downsville, Delaware County, NY, 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 local assessor, who estimates the market value of the property. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Homeowners in Downsville experience a range of tax bills. For instance, the 25th percentile tax bill is $1,225, while the 75th percentile tax bill is $2,143. At the 90th percentile, the tax bill can reach up to $2,633. The median tax bill in the area is $1,653, which aligns with the highest and lowest median tax bills recorded in the 13755 zip code. These property taxes significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Downsville Tax Bill
$1,653
Average Delaware County Tax Bill
$3,106
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Downsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13755 | $918 | $1,225 | $1,653 | $2,143 | $2,633 |
Source: Ownwell