Lyons, New York Property Taxes
The median property tax rate in Lyons, NY is 3.05%, 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 Lyons at $94,306, the typical annual property tax bill reaches $2,817, slightly exceeding the national median of $2,690. Property taxes in Lyons 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 Lyons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lyons 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
Lyons, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.05%
Estimate Property Tax Bill
$2,876
$2,844
Ownwell’s Lyons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyons 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 Lyons, New York
Property taxes in Lyons, New York, play a crucial role in funding essential local services including public education, road maintenance, and emergency services. The median tax rate in Lyons stands at 3.05%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lyons set these rates annually, and they can vary across different neighborhoods. Each year, Lyons 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 Lyons' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14489 has both the highest and lowest median property tax rate of 3.05%. Understanding how these areas compare with Lyons provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyons Tax Rate
3.05%
Average Wayne County Tax Rate
3.01%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | 2.64% | 2.89% | 3.05% | 3.09% | 3.09% |
Source: Ownwell
Property Tax Assessment Values Across Lyons, New York
In Lyons, 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 Wayne County Assessment Office 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 Lyons, 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 Lyons helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lyons are both $2,817, found in the 14489 zip code.
Average Lyons Assessed Value
$94,306
Average Wayne County Assessed Value
$152,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | $48,194 | $66,667 | $94,306 | $131,944 | $188,551 |
Source: Ownwell
Property Tax Bills Across Lyons, New York
In Lyons, located in Wayne 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 represents a percentage of the property's market value. For instance, if a home has a median market price of $94,306, the assessed value will be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Lyons can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $2,011, while the 75th percentile tax bill is $3,867, and the 90th percentile tax bill can reach up to $5,421. These variations highlight the importance of understanding how assessments and local tax rates impact overall tax obligations. Homeowners need to be aware of these factors to better manage their annual expenses.
Average Lyons Tax Bill
$2,817
Average Wayne County Tax Bill
$4,668
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | $1,501 | $2,011 | $2,817 | $3,867 | $5,421 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Wayne Assessment Review Commission | |
| Website | wayne.sdgnys.com |