Beaver Dams, New York Property Taxes
The median property tax rate in Beaver Dams, NY is 2.58%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $113,000 in Beaver Dams, the typical annual property tax bill reaches $2,754, exceeding the national median of $2,690. Property taxes in Beaver Dams 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 Beaver Dams' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Beaver Dams or another part of Schuyler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beaver Dams, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$2,915
$2,883
Ownwell’s Beaver Dams Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beaver Dams with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beaver Dams 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 Schuyler County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beaver Dams, New York
Property taxes in Beaver Dams, New York, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Beaver Dams is 2.58%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Beaver Dams set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beaver Dams 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 Beaver Dams' effective property tax rate to other areas in Schuyler County and the national median. For comparison, the zip code 14812 has the highest median property tax rate of 2.58%, while the same zip code also has the lowest median tax rate of 2.58%. Understanding how Beaver Dams compares with other areas provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beaver Dams Tax Rate
2.58%
Average Schuyler County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | 1.98% | 1.98% | 2.58% | 2.58% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across Beaver Dams, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beaver Dams, New York. 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 Beaver Dams, 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. For instance, the median home price in Beaver Dams is $113,000, with property tax bills ranging from $1,757 at the 25th percentile to $5,368 at the 90th percentile. The zip code 14812 has the highest and lowest median tax bill of $2,754. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beaver Dams Assessed Value
$113,000
Average Schuyler County Assessed Value
$150,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | $42,640 | $71,000 | $113,000 | $163,000 | $224,420 |
Source: Ownwell
Property Tax Bills Across Beaver Dams, New York
In Beaver Dams, Schuyler 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 local assessors who evaluate the market value of the property. Homeowners in Beaver Dams face a median property tax rate that is in line with the national median of 0.99%. For a median home price of $113,000, this translates to varying tax bills depending on specific property valuations and applicable exemptions. The tax bill for the 25th percentile is $1,757, while those in the 75th percentile pay around $3,980. At the 90th percentile, the tax bill can go up to $5,368. The highest and lowest median tax bills in the area are both recorded at $2,754. These figures highlight the range of property tax burdens homeowners can experience, significantly impacting their annual financial planning. Understanding these factors is crucial for homeowners as they navigate property ownership in Beaver Dams.
Average Beaver Dams Tax Bill
$2,754
Average Schuyler County Tax Bill
$3,536
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | $1,004 | $1,757 | $2,754 | $3,980 | $5,368 |
Source: Ownwell