Branchport, New York Property Taxes
The median property tax rate in Branchport, NY is 1.75%, 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 Branchport at $359,600, the typical annual property tax bill reaches $6,339, exceeding the national median of $2,690. Property taxes in Branchport 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 Branchport'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 Branchport 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
Branchport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$6,293
$6,222
Ownwell’s Branchport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Branchport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Branchport 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 Branchport, New York
Property taxes in Branchport, New York, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Branchport is 1.75%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Branchport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branchport 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 Branchport's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14418 has both the highest and lowest median property tax rate of 1.75%. Understanding how these cities compare with Branchport 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 Branchport Tax Rate
1.75%
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 Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | 1.67% | 1.72% | 1.75% | 1.82% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Branchport, New York
In Branchport, 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. 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 Branchport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 14418 has the highest median tax bill at $6,339.
Average Branchport Assessed Value
$359,600
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 Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | $81,480 | $166,900 | $359,600 | $487,900 | $643,140 |
Source: Ownwell
Property Tax Bills Across Branchport, New York
Property tax bills in Branchport, located in Steuben County, NY, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, if a home in Branchport is assessed at $359,600, the tax bill can vary significantly. Factors such as the property's location, size, and any applicable exemptions play a crucial role in the final amount. In Branchport, tax bills can range from $2,973 at the 25th percentile to $10,968 at the 90th percentile, reflecting the diversity in property values and tax rates within the area. The highest median tax bill in the region is $6,339, which is significantly higher than the national median property tax rate of 0.99%. This variability in tax bills can have a substantial impact on homeowners, influencing their overall cost of living and potentially affecting decisions related to property ownership and investment.
Average Branchport Tax Bill
$6,339
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 Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | $1,439 | $2,973 | $6,339 | $8,477 | $10,968 |
Source: Ownwell