Candor, New York Property Taxes
The median property tax rate in Candor, NY is 3.37%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Candor at $104,620, the typical annual property tax bill reaches $3,383, exceeding the national median of $2,690. Property taxes in Candor 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 Candor'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 Candor 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
Candor, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.37%
Estimate Property Tax Bill
$3,526
$3,486
Ownwell’s Candor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Candor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Candor 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 Candor, New York
Property taxes in Candor, New York, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Candor is 3.37%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Candor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Candor 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 Candor's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13743 has the highest median property tax rate of 3.37%, while the same zip code also has the lowest median tax rate of 3.37%. Understanding how these areas compare with Candor provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Candor Tax Rate
3.37%
Average Tioga County Tax Rate
3.13%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Candor, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13743 | 1.96% | 2.77% | 3.37% | 3.69% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across Candor, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Candor, NY. 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 Tioga 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 Candor, 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. For example, the zip code with the highest median tax bill is 13743, amounting to $3,383, while the lowest median tax bill is also in the same zip code, reflecting the uniformity in property tax assessments. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Candor Assessed Value
$104,620
Average Tioga County Assessed Value
$119,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Candor, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13743 | $39,263 | $71,638 | $104,620 | $153,274 | $219,661 |
Source: Ownwell
Property Tax Bills Across Candor, New York
In Candor, located in Tioga County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. 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, location, and any improvements or renovations made. Homeowners in Candor experience a range of property tax bills. For example, the tax bill at the 25th percentile is $2,114, while at the 75th percentile, it rises to $5,046, and at the 90th percentile, it reaches $7,311. The median home price in Candor is $104,620, which provides a context for these tax figures. Compared to the national median property tax rate of 0.99%, the property tax burden in Candor can be significant, affecting homeowners' financial planning and long-term investment decisions. Understanding these factors can help homeowners anticipate their annual tax responsibilities accurately.
Average Candor Tax Bill
$3,383
Average Tioga County Tax Bill
$3,510
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Candor, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13743 | $965 | $2,114 | $3,383 | $5,046 | $7,311 |
Source: Ownwell