Centerville, New York Property Taxes
The median property tax rate in Centerville, NY is 3.26%, 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 $54,350 in Centerville, the typical annual property tax bill amounts to $1,742, surpassing the national median of $2,690. Property taxes in Centerville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Centerville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Centerville or another part of Allegany County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Centerville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.26%
Estimate Property Tax Bill
$1,772
$1,752
Ownwell’s Centerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centerville 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 Centerville, New York
Property taxes in Centerville, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerville is 3.26%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Centerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centerville 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 Centerville's effective property tax rate to other counties in New York and the national median. For comparison, the 14029 zip code has the highest median property tax rate of 3.26%, while the 14029 zip code also has the lowest median tax rate of 3.26%. Understanding how these cities compare with Centerville 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 Centerville Tax Rate
3.26%
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 Centerville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14029 | 3.12% | 3.26% | 3.26% | 3.27% | 3.37% |
Source: Ownwell
Property Tax Assessment Values Across Centerville, New York
In Centerville, 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 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 Centerville, 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 Centerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is found in zip code 14029, amounting to $1,742.00.
Average Centerville Assessed Value
$54,350
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 Centerville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14029 | $18,440 | $30,925 | $54,350 | $95,575 | $179,410 |
Source: Ownwell
Property Tax Bills Across Centerville, New York
Property tax bills in Centerville, Allegany County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the property's market value. Once the property is assessed, the tax rate, set by local taxing authorities, is applied to this value to determine the annual property tax bill. In Centerville, the median home price is $54,350. Homeowners at the 25th percentile can expect a tax bill around $999, while those at the 75th percentile might see bills closer to $2,860. For the top 10% of properties, tax bills can soar to approximately $5,384. These figures highlight the variability in property tax burdens, influenced by property values and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, Centerville's rates can significantly impact homeowners, making it crucial for them to understand how assessed values and local tax rates affect their overall tax obligations.
Average Centerville Tax Bill
$1,742
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 Centerville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14029 | $592 | $999 | $1,742 | $2,860 | $5,384 |
Source: Ownwell