Spencerport, New York Property Taxes
The median property tax rate in Spencerport, NY is 3.07%, 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 Spencerport, the typical annual property tax bill reaches $5,910, exceeding the national median of $2,690. Property taxes in Spencerport 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 Spencerport'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 Spencerport 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
Spencerport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$5,772
$5,707
Ownwell’s Spencerport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spencerport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spencerport 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 Spencerport, New York
Property taxes in Spencerport, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spencerport is 3.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Spencerport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spencerport 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 Spencerport's effective property tax rate to other areas within Monroe County and the national median. For comparison, the 14559 zip code has both the highest and lowest median property tax rate of 3.07%. Understanding how these areas compare with Spencerport provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spencerport Tax Rate
3.07%
Average Monroe County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spencerport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14559 | 2.25% | 2.76% | 3.07% | 3.34% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across Spencerport, New York
In Spencerport, NY, 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 Monroe County 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 Spencerport, 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 Spencerport, the median home price is $188,000, with the highest and lowest median tax bills both at $5,910 in the 14559 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 Spencerport Assessed Value
$188,000
Average Monroe County Assessed Value
$167,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spencerport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14559 | $133,900 | $156,200 | $188,000 | $263,350 | $340,400 |
Source: Ownwell
Property Tax Bills Across Spencerport, New York
In Spencerport, located in Monroe County, NY, property tax bills are determined by assessing the value of each property and applying the local tax rate. The assessed value is based on the market value of the home, which is periodically evaluated by the county assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Spencerport, the median home price is $188,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $4,469 and the 75th percentile tax bill at $8,379. Those in the 90th percentile face tax bills as high as $10,980. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Monroe County's rates reflect the area's specific funding needs and property values, ensuring that residents contribute fairly to the maintenance and improvement of their community.
Average Spencerport Tax Bill
$5,910
Average Monroe County Tax Bill
$5,200
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Spencerport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14559 | $3,305 | $4,469 | $5,910 | $8,379 | $10,980 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Monroe Assessment Review Commission | |
| Website | app.regrid.com |