Almond, New York Property Taxes
The median property tax rate in Almond, NY is 4.05%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $75,949, the typical annual property tax bill in Almond reaches $2,843, surpassing the national median of $2,690. Property taxes in Almond are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Almond'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 Almond 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
Almond, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.05%
Estimate Property Tax Bill
$3,076
$3,041
Ownwell’s Almond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Almond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Almond 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 Almond, New York
Property taxes in Almond, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Almond is 4.05%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Almond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Almond 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 Almond's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14804 has the highest median property tax rate of 4.05%, while the same zip code also has the lowest median tax rate of 4.05%. Understanding how these cities compare with Almond provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Almond Tax Rate
4.05%
Average Allegany County Tax Rate
3.64%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Almond, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14804 | 3.10% | 3.75% | 4.05% | 4.05% | 4.45% |
Source: Ownwell
Property Tax Assessment Values Across Almond, New York
In Almond, 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 Allegany County Assessor 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 Almond, 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 Almond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14804 has the highest and lowest median tax bill, both at $2,843.
Average Almond Assessed Value
$75,949
Average Allegany County Assessed Value
$72,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Almond, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14804 | $22,785 | $43,038 | $75,949 | $111,169 | $159,797 |
Source: Ownwell
Property Tax Bills Across Almond, New York
In Almond, located in Allegany County, NY, property tax bills are calculated based on the assessed value of a home rather than its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $75,949, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. The 25th percentile of tax bills is $1,578, while the 75th percentile reaches up to $4,339. For those in the 90th percentile, tax bills can be as high as $6,167. These figures highlight the significant variability in property tax bills within the area, influenced by factors such as property location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Almond may experience higher or lower tax burdens. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and long-term investment in their property.
Average Almond Tax Bill
$2,843
Average Allegany County Tax Bill
$2,710
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Almond, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14804 | $855 | $1,578 | $2,843 | $4,339 | $6,167 |
Source: Ownwell