Castorland, New York Property Taxes
The median property tax rate in Castorland, NY is 2.36%, 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 Castorland, the typical annual property tax bill reaches $2,984, exceeding the national median of $2,690. Property taxes in Castorland 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 Castorland'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 Castorland 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
Castorland, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$3,015
$2,981
Ownwell’s Castorland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castorland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castorland 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 Castorland, New York
Property taxes in Castorland, 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 Castorland is 2.36%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Castorland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castorland 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 Castorland's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13620 has both the highest and lowest median property tax rate of 2.36%. Understanding how these cities compare with Castorland provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castorland Tax Rate
2.36%
Average Lewis County Tax Rate
2.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castorland, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13620 | 2.12% | 2.14% | 2.36% | 2.57% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Castorland, New York
In Castorland, 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 local 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 Castorland, 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 Castorland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in the area is 13620, with a median tax bill of $2984. This same zip code also has the lowest median tax bill, showcasing a uniform tax landscape.
Average Castorland Assessed Value
$127,750
Average Lewis County Assessed Value
$102,300
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castorland, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13620 | $48,390 | $91,650 | $127,750 | $161,425 | $218,110 |
Source: Ownwell
Property Tax Bills Across Castorland, New York
In Castorland, 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 and reflects a percentage of the property's market value. Homeowners in Castorland can expect a median home price of $127,750. Given the local tax rate, this results in varying tax bills. For example, tax bills in the 25th percentile are around $2,119, while those in the 75th percentile reach approximately $3,794. At the higher end, the 90th percentile tax bill can climb to $4,757. These amounts are influenced by factors such as property location, improvements, and exemptions. Comparatively, Castorland's median tax bill of $2,984 aligns with the zip code 13620, which is notably higher than the national median property tax rate of 0.99%. This can significantly impact homeowners, as higher property taxes can affect overall affordability and cost of living.
Average Castorland Tax Bill
$2,984
Average Lewis County Tax Bill
$2,429
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Castorland, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13620 | $1,125 | $2,119 | $2,984 | $3,794 | $4,757 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Lewis Assessment Review Commission | |
| Website | lewiscountyny.gov |