Addison, New York Property Taxes
The median property tax rate in Addison, NY is 2.74%, 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 Addison, the typical annual property tax bill reaches $2,713, exceeding the national median of $2,690. Property taxes in Addison 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 Addison'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 Addison 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
Addison, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.74%
Estimate Property Tax Bill
$2,503
$2,475
Ownwell’s Addison Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Addison with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Addison to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more granular details, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value is determined by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Addison, New York
Property taxes in Addison, 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 Addison is 2.74%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Addison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Addison 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 Addison's effective property tax rate to other areas in New York and the national median. For comparison, the 14801 zip code has both the highest and lowest median property tax rate of 2.74%. Understanding how these areas compare with Addison provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Addison Tax Rate
2.74%
Average Steuben County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Addison, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14801 | 2.44% | 2.68% | 2.74% | 3.16% | 3.65% |
Source: Ownwell
Property Tax Assessment Values Across Addison, New York
In Addison, 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 Steuben 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 Addison, 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. With a median home price of $91,368, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,660, while the 75th percentile tax bill is $3,873, and the 90th percentile tax bill is $5,481. The zip code 14801 has the highest median tax bill at $2,713, while the lowest median tax bill is also $2,713 in the same zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Addison Assessed Value
$91,368
Average Steuben County Assessed Value
$102,326
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Addison, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14801 | $32,756 | $56,701 | $91,368 | $134,316 | $192,308 |
Source: Ownwell
Property Tax Bills Across Addison, New York
Property tax bills in Addison, located in Steuben County, NY, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, size, location, and any improvements or renovations made. Homeowners in Addison can expect property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is approximately $1,660, while at the 75th percentile, it reaches around $3,873. At the 90th percentile, homeowners might face a tax bill as high as $5,481. These figures highlight the range of property tax burdens within the community. Comparatively, the median property tax rate in Addison is higher than the national median of 0.99%. This can place a substantial financial strain on homeowners, particularly those with properties assessed at higher values. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Addison Tax Bill
$2,713
Average Steuben County Tax Bill
$2,992
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Addison, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14801 | $926 | $1,660 | $2,713 | $3,873 | $5,481 |
Source: Ownwell