Horseheads, New York Property Taxes
The median property tax rate in Horseheads, NY is 2.17%, 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 Horseheads at $222,400, the typical annual property tax bill reaches $5,440, exceeding the national median of $2,690. Property taxes in Horseheads 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 Horseheads' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Horseheads 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
Horseheads, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$4,826
$4,772
Ownwell’s Horseheads Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horseheads with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horseheads 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 Horseheads, New York
Property taxes in Horseheads, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horseheads is 2.17%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Horseheads set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horseheads 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 Horseheads' effective property tax rate to other counties in New York and the national median. For comparison, the 14845 zip code has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Horseheads 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 Horseheads Tax Rate
2.17%
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 Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | 2.07% | 2.15% | 2.17% | 2.45% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Horseheads, New York
In Horseheads, 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 Schuyler County Assessment Office 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 Horseheads, 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 Horseheads helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Horseheads is $5,440 in the 14845 zip code, while the lowest median tax bill is also $5,440 in the same zip code.
Average Horseheads Assessed Value
$222,400
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 Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | $129,420 | $164,700 | $222,400 | $315,300 | $666,840 |
Source: Ownwell
Property Tax Bills Across Horseheads, New York
In Horseheads, 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 the local assessor, who estimates the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Horseheads can expect a median home price of $222,400, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is around $4,030, while the 75th percentile tax bill can reach up to $6,358. At the higher end, the 90th percentile tax bill skyrockets to $14,259. This variation highlights the impact of property values and local tax rates on individual tax bills. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how their local rates and property assessments affect their annual financial obligations.
Average Horseheads Tax Bill
$5,440
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 Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | $2,981 | $4,030 | $5,440 | $6,358 | $14,259 |
Source: Ownwell