Seneca Falls, New York Property Taxes
The median property tax rate in Seneca Falls, NY is 3.43%, 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 Seneca Falls, the typical annual property tax bill reaches $3,902, exceeding the national median of $2,690. Property taxes in Seneca Falls 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 Seneca Falls'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 Seneca Falls 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
Seneca Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.43%
Estimate Property Tax Bill
$4,169
$4,122
Ownwell’s Seneca Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seneca Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seneca Falls 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 Seneca Falls, New York
Property taxes in Seneca Falls, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seneca Falls is 3.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Seneca Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seneca Falls 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 Seneca Falls's effective property tax rate to other areas in Seneca County and the national median. For comparison, the 13148 zip code has the highest median property tax rate of 3.43%, while the same zip code also has the lowest median tax rate of 3.43%. Understanding how these rates compare with Seneca Falls provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seneca Falls Tax Rate
3.43%
Average Seneca County Tax Rate
2.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | 2.40% | 2.88% | 3.43% | 3.49% | 3.59% |
Source: Ownwell
Property Tax Assessment Values Across Seneca Falls, New York
In Seneca Falls, 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 the Seneca County Assessor's 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 Seneca Falls, 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. The median home price in Seneca Falls is $121,558, with tax bills ranging from $2,811 at the 25th percentile to $8,212 at the 90th percentile. The highest and lowest median tax bills both stand at $3,902 in the 13148 zip code. 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 Seneca Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seneca Falls Assessed Value
$121,558
Average Seneca County Assessed Value
$129,610
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | $56,461 | $87,792 | $121,558 | $182,338 | $270,130 |
Source: Ownwell
Property Tax Bills Across Seneca Falls, New York
In Seneca Falls, NY, property tax bills are determined based on the assessed value of a home, which is often a percentage of its market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For instance, the median home price in Seneca Falls is $121,558. Homeowners in Seneca Falls experience a range of property tax bills. The 25th percentile tax bill is $2,811, while the 75th percentile tax bill is $5,798. At the 90th percentile, homeowners might pay up to $8,212. The highest and lowest median tax bills in the area are both $3,902, reflecting a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Seneca Falls homeowners may find their tax bills higher or lower depending on their specific circumstances, impacting their overall cost of homeownership.
Average Seneca Falls Tax Bill
$3,902
Average Seneca County Tax Bill
$3,564
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | $1,726 | $2,811 | $3,902 | $5,798 | $8,212 |
Source: Ownwell