Medina, New York Property Taxes
The median property tax rate in Medina, NY is 3.95%, 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 Medina being $94,400, the typical annual property tax bill reaches $3,836, far exceeding the national median of $2,690. Property taxes in Medina are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Medina'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 Medina 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
Medina, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.95%
Estimate Property Tax Bill
$3,729
$3,687
Ownwell’s Medina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Medina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Medina 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 Medina, New York
Property taxes in Medina, 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 Medina is 3.95%, significantly higher than the national median of 0.99%. Local government entities within Medina set these rates annually, and they can vary across different neighborhoods. Each year, Medina 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 Medina's effective property tax rate to other areas in Orleans County and the national median. For comparison, the zip code 14103 has the highest median property tax rate of 3.95%, while the same zip code also has the lowest median tax rate of 3.95%. Understanding how these areas compare with Medina provides valuable insights into the varying tax landscape across Orleans County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Medina Tax Rate
3.95%
Average Orleans County Tax Rate
3.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Medina, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14103 | 3.08% | 3.34% | 3.95% | 4.72% | 4.82% |
Source: Ownwell
Property Tax Assessment Values Across Medina, New York
In Medina, 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 Orleans 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 Medina, 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 Medina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Medina are both $3,836, found in zip code 14103.
Average Medina Assessed Value
$94,400
Average Orleans County Assessed Value
$108,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Medina, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14103 | $50,180 | $72,300 | $94,400 | $130,400 | $185,840 |
Source: Ownwell
Property Tax Bills Across Medina, New York
In Medina, Orleans County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Medina experience a range of tax bills, with the 25th percentile paying around $2,928 and the 75th percentile facing up to $4,838 annually. The highest median tax bill in the area is $3,836, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, these tax bills represent a substantial portion of annual expenses, impacting overall affordability and financial planning. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their budgets more effectively.
Average Medina Tax Bill
$3,836
Average Orleans County Tax Bill
$3,855
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Medina, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14103 | $2,093 | $2,928 | $3,836 | $4,838 | $6,541 |
Source: Ownwell