Seneca Falls, New York Property Taxes
The median property tax rate in Seneca Falls, NY is 2.87%, 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 Seneca Falls at $124,263, the typical annual property tax bill reaches $3,467, surpassing the national median of $2,690. Property taxes in Seneca Falls 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 Seneca Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Seneca Falls 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
Seneca Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$3,566
$3,526
Ownwell’s Seneca Falls Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Seneca Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seneca Falls to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Seneca Falls, New York
Property taxes in Seneca Falls, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seneca Falls is 2.87%, significantly higher than the U.S. national median of 0.99%. Local government entities within Seneca Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seneca Falls 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 Seneca Falls' effective property tax rate to other areas in Wayne County and the national median. For comparison, the zip code 13148 has the highest median property tax rate of 2.87%, while the same zip code also has the lowest median tax rate of 2.87%. Understanding how these areas compare with Seneca Falls 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 Seneca Falls Tax Rate
2.87%
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 Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | 2.41% | 2.72% | 2.87% | 2.87% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Seneca Falls, New York
In Seneca Falls, 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 Seneca Falls, 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 Seneca Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13148 in Seneca Falls has the highest median tax bill of $3,467. Understanding these nuances can make a significant difference in managing your property taxes effectively.
Average Seneca Falls Assessed Value
$124,263
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 Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | $79,737 | $112,000 | $124,263 | $204,500 | $260,368 |
Source: Ownwell
Property Tax Bills Across Seneca Falls, New York
In Seneca Falls, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of your property. Seneca Falls, located in Wayne County, has a median home price of $124,263. Homeowners in this area can expect varying tax bills. For instance, the 25th percentile tax bill is around $3,214, while the 75th percentile tax bill is approximately $5,482. At the higher end, the 90th percentile tax bill can reach up to $7,865. Notably, the highest and lowest median tax bills in the region both stand at $3,467, specifically in the 13148 zip code. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rates in Seneca Falls can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Seneca Falls Tax Bill
$3,467
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 Seneca Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13148 | $2,206 | $3,214 | $3,467 | $5,482 | $7,865 |
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 |