Naples, New York Property Taxes
The median property tax rate in Naples, NY is 2.98%, 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 Naples, the typical annual property tax bill reaches $2,686, slightly below the national median of $2,690. Property taxes in Naples 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 Naples' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Naples 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
Naples, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$2,704
$2,673
Ownwell’s Naples Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Naples with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Naples 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 Naples, New York
Property taxes in Naples, 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 Naples is 2.98%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Naples set these rates annually, and they can vary significantly across different neighborhoods. Each year, Naples 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 Naples's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14512 has the highest median property tax rate of 2.98%, while the same zip code also has the lowest median tax rate of 2.98%. Understanding how these cities compare with Naples 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 Naples Tax Rate
2.98%
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 Naples, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14512 | 2.62% | 2.95% | 2.98% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Naples, New York
In Naples, 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 Naples, 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. For instance, the median home price in Naples is $90,722, and the tax bills range significantly, with the 25th percentile at $1,547 and the 75th percentile at $4,021. The highest and lowest median tax bills are both $2,686, found in the zip code 14512. 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 Naples Assessed Value
$90,722
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 Naples, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14512 | $35,192 | $55,583 | $90,722 | $136,001 | $187,732 |
Source: Ownwell
Property Tax Bills Across Naples, New York
In Naples, located in Steuben County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This value is then multiplied by the tax rate to calculate the annual tax bill. Factors such as property size, location, and market conditions are considered during assessment. Homeowners in Naples experience a range of property tax bills. For instance, the 25th percentile tax bill is $1,547, while the 75th percentile tax bill reaches $4,021. At the 90th percentile, homeowners can expect to pay around $5,599 annually. The median home price in Naples is $90,722, which influences the tax calculations significantly. Compared to the national median property tax rate of 0.99%, the property tax burden in Naples can be substantial depending on the assessed value and specific tax rates applied. This variability affects how much homeowners need to budget for their annual property taxes.
Average Naples Tax Bill
$2,686
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 Naples, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14512 | $977 | $1,547 | $2,686 | $4,021 | $5,599 |
Source: Ownwell