Canton, New York Property Taxes
The median property tax rate in Canton, NY is 3.24%, 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 Canton at $113,372, the typical annual property tax bill reaches $3,782, far exceeding the national median of $2,690. Property taxes in Canton 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 Canton'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 Canton 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
Canton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.24%
Estimate Property Tax Bill
$3,673
$3,632
Ownwell’s Canton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canton 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 Canton, New York
Property taxes in Canton, 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 Canton is 3.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Canton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canton 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 Canton's effective property tax rate to other areas and the national median. For comparison, the zip code 13617 has both the highest and lowest median property tax rate of 3.24%. Understanding how these figures compare with Canton provides valuable insights into the varying tax landscape across St. Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canton Tax Rate
3.24%
Average St. Lawrence County Tax Rate
3.02%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13617 | 2.72% | 3.24% | 3.24% | 4.01% | 4.01% |
Source: Ownwell
Property Tax Assessment Values Across Canton, New York
In Canton, 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 St. Lawrence 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 Canton, 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. The highest median tax bill in Canton is $3,782 in the 13617 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 Canton Assessed Value
$113,372
Average St. Lawrence County Assessed Value
$83,455
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13617 | $42,262 | $76,744 | $113,372 | $162,791 | $215,116 |
Source: Ownwell
Property Tax Bills Across Canton, New York
Property tax bills in Canton, located in St. Lawrence County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the property's market value. Homeowners in Canton typically face property tax rates that result in a median tax bill of $3,782. This is significantly higher than the national median property tax rate of 0.99%, indicating a relatively higher tax burden for residents. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rates set by local taxing authorities. For instance, a home valued at $113,372 would result in a different tax bill compared to properties valued at higher or lower amounts. The impact on homeowners can be substantial, with tax bills ranging from $2,534 at the 25th percentile to $7,563 at the 90th percentile. Understanding these elements helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Canton Tax Bill
$3,782
Average St. Lawrence County Tax Bill
$2,611
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Canton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13617 | $1,262 | $2,534 | $3,782 | $5,725 | $7,563 |
Source: Ownwell