Byron, New York Property Taxes
The median property tax rate in Byron, NY is 3.53%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Byron at $118,750, the typical annual property tax bill reaches $4,374, far exceeding the national median of $2,690. Property taxes in Byron 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 Byron'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 Byron 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
Byron, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.53%
Estimate Property Tax Bill
$4,192
$4,145
Ownwell’s Byron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Byron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Byron 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 Byron, New York
Property taxes in Byron, 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 Byron is 3.53%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Byron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Byron 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 Byron's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14422 has the highest median property tax rate of 3.53%, while the same zip code also has the lowest median tax rate of 3.53%. Understanding how these cities compare with Byron 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 Byron Tax Rate
3.53%
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 Byron, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14422 | 3.23% | 3.51% | 3.53% | 3.91% | 4.12% |
Source: Ownwell
Property Tax Assessment Values Across Byron, New York
In Byron, 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 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 Byron, 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 Byron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Byron, the highest median tax bill is $4,374 in zip code 14422, which is significantly higher than the national median of 0.99%.
Average Byron Assessed Value
$118,750
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 Byron, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14422 | $53,320 | $86,000 | $118,750 | $164,000 | $214,960 |
Source: Ownwell
Property Tax Bills Across Byron, New York
In Byron, located in Genesee 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's office, which evaluates the property to estimate its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Byron face property tax bills that vary significantly. For example, the tax bill at the 25th percentile is $3,175, while at the 75th percentile, it rises to $5,953. Those at the 90th percentile see bills as high as $7,343. Comparatively, the highest and lowest median tax bills in the area both stand at $4,374, which is significantly higher than the national median property tax rate of 0.99%. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners' annual financial obligations accordingly.
Average Byron Tax Bill
$4,374
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 Byron, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14422 | $2,089 | $3,175 | $4,374 | $5,953 | $7,343 |
Source: Ownwell