Prattsburgh, New York Property Taxes
The median property tax rate in Prattsburgh, NY, is 2.82%, 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 Prattsburgh at $80,060, the typical annual property tax bill reaches $2,049, which is below the national median of $2,690. Property taxes in Prattsburgh 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 Prattsburgh'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 Prattsburgh 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
Prattsburgh, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$2,258
$2,232
Ownwell’s Prattsburgh Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Prattsburgh. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Prattsburgh to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Steuben County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Prattsburgh, New York
Property taxes in Prattsburgh, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prattsburgh is 2.82%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Prattsburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prattsburgh 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 Prattsburgh's effective property tax rate to other counties in New York and the national median. For comparison, the 14873 zip code has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these cities compare with Prattsburgh 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 Prattsburgh Tax Rate
2.82%
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 Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | 1.85% | 2.44% | 2.82% | 2.82% | 2.82% |
Source: Ownwell
Property Tax Assessment Values Across Prattsburgh, New York
In Prattsburgh, 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 Prattsburgh, 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 Prattsburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14873 has both the highest and lowest median tax bill, recorded at $2049.
Average Prattsburgh Assessed Value
$80,060
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 Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | $27,423 | $45,567 | $80,060 | $130,515 | $200,360 |
Source: Ownwell
Property Tax Bills Across Prattsburgh, New York
In Prattsburgh, 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 the local assessor and is meant to reflect the market value of the property. For example, with a median home price of $80,060, the assessed value is a crucial factor in determining the final tax bill. Local tax rates are applied to this assessed value to calculate the annual tax bill. In Prattsburgh, the tax bill can vary significantly, as evidenced by the range in property tax payments. Homeowners in the 25th percentile pay an annual tax bill of $1,162, while those in the 75th percentile pay around $3,179. At the higher end, the 90th percentile tax bill reaches $4,848. These property taxes fund essential local services such as schools, infrastructure, and public safety. For homeowners, understanding how their property tax bill is determined can help them manage their financial planning and anticipate annual expenses.
Average Prattsburgh Tax Bill
$2,049
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 Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | $703 | $1,162 | $2,049 | $3,179 | $4,848 |
Source: Ownwell