Big Flats, New York Property Taxes
The median property tax rate in Big Flats, NY is 3.25%, 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 Big Flats at $235,000, the typical annual property tax bill reaches $7,565, far exceeding the national median of $2,690. Property taxes in Big Flats 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 Big Flats' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Big Flats or another part of Steuben County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Flats, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$7,638
$7,551
Ownwell’s Big Flats Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Flats with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Flats 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 Big Flats, New York
Property taxes in Big Flats, 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 Big Flats is 3.25%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Big Flats set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Flats 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 Big Flats' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14814 has the highest median property tax rate of 3.25%, while the same zip code also has the lowest median tax rate of 3.25%. Understanding how these areas compare with Big Flats 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 Big Flats Tax Rate
3.25%
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 Big Flats, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14814 | 3.23% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across Big Flats, New York
In Big Flats, 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 Big Flats, 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 Big Flats helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Big Flats is $235,000, with tax bills ranging from $6,618 at the 25th percentile to $9,487 at the 90th percentile. The zip code 14814 has both the highest and lowest median tax bills, each at $7,565.
Average Big Flats Assessed Value
$235,000
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 Big Flats, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14814 | $148,300 | $204,250 | $235,000 | $261,000 | $292,700 |
Source: Ownwell
Property Tax Bills Across Big Flats, New York
Property tax bills in Big Flats, located in Steuben County, NY, are determined based on the assessed value of a property and the local tax rate. The median home price in Big Flats is $235,000, which serves as a basis for calculating the property tax. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the overall tax bill. In Big Flats, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $6,618, while at the 75th percentile, it rises to $8,492. Homeowners at the 90th percentile face an even higher tax bill of $9,487. Compared to the national median property tax rate of 0.99%, Big Flats residents experience higher property taxes, impacting household budgets and overall affordability. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Big Flats Tax Bill
$7,565
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 Big Flats, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14814 | $4,825 | $6,618 | $7,565 | $8,492 | $9,487 |
Source: Ownwell