Branchport, New York Property Taxes
The median property tax rate in Branchport, NY is 1.78%, 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 Branchport at $149,000, the typical annual property tax bill reaches $2,739, close to the national median of $2,690. Property taxes in Branchport 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 Branchport'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 Branchport 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
Branchport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$2,652
$2,622
Ownwell’s Branchport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Branchport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Branchport 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 Branchport, New York
Property taxes in Branchport, 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 Branchport is 1.78%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Branchport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branchport 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 Branchport's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 14418 has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these areas compare with Branchport provides valuable insights into the varying tax landscape across Yates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branchport Tax Rate
1.78%
Average Yates County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | 1.67% | 1.68% | 1.78% | 1.98% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Branchport, New York
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Branchport, New York. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Yates 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 Branchport, 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 instance, the highest median tax bill in Branchport is $2739 in the 14418 zip code, while the lowest median tax bill is also $2739 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Branchport Assessed Value
$149,000
Average Yates County Assessed Value
$166,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | $53,340 | $82,750 | $149,000 | $239,000 | $400,540 |
Source: Ownwell
Property Tax Bills Across Branchport, New York
In Branchport, Yates County, NY, property tax bills are determined by a combination of the assessed value of your home and the local tax rate. The assessed value is a percentage of your property's market value, which is determined by the local assessor's office. This value is then multiplied by the local tax rate to calculate your annual tax bill. For instance, if your home is assessed at $149,000, the median home price in the area, your tax bill could fall within a range depending on various factors, including exemptions and local tax levies. Homeowners in Branchport can expect tax bills to vary significantly. The 25th percentile tax bill is around $1,647, while the 75th percentile reaches $4,535, and the 90th percentile can be as high as $7,416. These figures indicate a wide disparity, reflecting differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Branchport's tax rates may seem higher, impacting homeowners' financial planning and budget allocation.
Average Branchport Tax Bill
$2,739
Average Yates County Tax Bill
$3,654
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Branchport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14418 | $1,051 | $1,647 | $2,739 | $4,535 | $7,416 |
Source: Ownwell