Akron, New York Property Taxes
The median property tax rate in Akron, NY is 2.17%, 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 Akron at $209,060, the typical annual property tax bill reaches $4,478, exceeding the national median of $2,690. Property taxes in Akron 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 Akron'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 Akron 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
Akron, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$4,537
$4,485
Ownwell’s Akron Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Akron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Akron to provide an accurate estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities, offering clarity and financial foresight. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Genesee County, is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Akron, New York
Property taxes in Akron, 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 Akron is 2.17%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Akron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Akron 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 Akron's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14001 has both the highest and lowest median property tax rate of 2.17%. Understanding how these cities compare with Akron provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Akron Tax Rate
2.17%
Average Genesee County Tax Rate
3.18%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Akron, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14001 | 1.55% | 1.96% | 2.17% | 2.25% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Akron, New York
In Akron, 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 Genesee 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 Akron, 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. Akron's median home price is $209,060, with tax bills ranging from $3,066 at the 25th percentile to $6,830 at the 90th percentile. The highest and lowest median tax bills both stand at $4,478 in the 14001 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Akron Assessed Value
$209,060
Average Genesee County Assessed Value
$137,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Akron, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14001 | $113,419 | $155,315 | $209,060 | $248,487 | $298,187 |
Source: Ownwell
Property Tax Bills Across Akron, New York
Property tax bills in Akron, located in Genesee County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, determined by the local assessor's office. Factors such as property size, location, and improvements can influence this assessed value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Akron, the median home price is $209,060. The tax bill varies significantly, with the 25th percentile at $3,066 and the 75th percentile at $5,469, indicating a wide range of tax liabilities based on property characteristics. The 90th percentile tax bill reaches $6,830, highlighting the potential for higher taxes on more valuable properties. Comparatively, the highest and lowest median tax bills in the area are both $4,478, suggesting a relatively stable tax environment within the zip code 14001. This system ensures that property taxes are proportionate to the value and characteristics of each home, impacting homeowners' annual financial planning.
Average Akron Tax Bill
$4,478
Average Genesee County Tax Bill
$4,359
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Akron, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14001 | $1,892 | $3,066 | $4,478 | $5,469 | $6,830 |
Source: Ownwell