Mount Morris, New York Property Taxes
The median property tax rate in Mount Morris, NY is 4.49%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $99,000 in Mount Morris, the typical annual property tax bill reaches $3,906, far exceeding the national median of $2,690. Property taxes in Mount Morris are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Mount Morris'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 Mount Morris 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
Mount Morris, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.49%
Estimate Property Tax Bill
$4,445
$4,395
Ownwell’s Mount Morris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Morris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Morris 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 Mount Morris, New York
Property taxes in Mount Morris, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Morris is 4.49%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Mount Morris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Morris 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 Mount Morris's effective property tax rate to other counties in New York and the national median. For comparison, the 14510 zip code has the highest median property tax rate of 4.49%, while the same zip code also has the lowest median tax rate of 4.49%. Understanding how these areas compare with Mount Morris provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Morris Tax Rate
4.49%
Average Livingston County Tax Rate
2.99%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Morris, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14510 | 2.84% | 3.09% | 4.49% | 4.49% | 4.49% |
Source: Ownwell
Property Tax Assessment Values Across Mount Morris, New York
In Mount Morris, 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 Mount Morris, 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 Mount Morris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,906 in the 14510 zip code, while the lowest median tax bill is also $3,906 in the same zip code.
Average Mount Morris Assessed Value
$99,000
Average Livingston County Assessed Value
$161,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Morris, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14510 | $54,400 | $75,300 | $99,000 | $143,300 | $209,840 |
Source: Ownwell
Property Tax Bills Across Mount Morris, New York
In Mount Morris, located in Livingston 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 and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Mount Morris is $99,000, and homeowners can expect a range of tax bills depending on their property's assessed value and other factors. Homeowners in Mount Morris experience a wide range of property tax bills. At the 25th percentile, tax bills are around $3,066, while at the 75th percentile, they are approximately $5,251. The highest tax bills, at the 90th percentile, reach up to $7,318. These figures highlight the significant impact property taxes can have on homeowners' finances, making it crucial for property owners to understand how their tax bills are calculated and to explore potential exemptions or appeals if necessary.
Average Mount Morris Tax Bill
$3,906
Average Livingston County Tax Bill
$4,819
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Morris, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14510 | $2,106 | $3,066 | $3,906 | $5,251 | $7,318 |
Source: Ownwell