Whitesville, New York Property Taxes
The median property tax rate in Whitesville, NY is 3.42%, 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 Whitesville at $68,300, the typical annual property tax bill reaches $2,310, marginally below the national median of $2,690. Property taxes in Whitesville 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 Whitesville'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 Whitesville 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
Whitesville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.42%
Estimate Property Tax Bill
$2,336
$2,310
Ownwell’s Whitesville Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Whitesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitesville to project 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 Allegany County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Whitesville, New York
Property taxes in Whitesville, 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 Whitesville is 3.42%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Whitesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitesville 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 Whitesville's effective property tax rate to other counties in New York and the national median. For comparison, the 14897 zip code has the highest median property tax rate of 3.42%, while the same zip code also has the lowest median tax rate of 3.42%. Understanding how these cities compare with Whitesville 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 Whitesville Tax Rate
3.42%
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 Whitesville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14897 | 2.98% | 3.28% | 3.42% | 3.48% | 3.48% |
Source: Ownwell
Property Tax Assessment Values Across Whitesville, New York
In Whitesville, 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 Whitesville, 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 zip code 14897 has the highest median tax bill at $2,310, while the lowest median tax bill is also $2,310. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whitesville Assessed Value
$68,300
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 Whitesville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14897 | $29,570 | $46,025 | $68,300 | $103,550 | $165,530 |
Source: Ownwell
Property Tax Bills Across Whitesville, New York
In Whitesville, located in Allegany County, NY, property tax bills are determined based on the assessed value of a home. The median home price in the area is $68,300, which serves as a key factor in calculating the property tax. The local tax rate is applied to the assessed value to determine the annual tax bill. Homeowners in Whitesville can expect a wide range of tax bills depending on their property's assessed value and specific characteristics. For instance, tax bills in the 25th percentile are around $1,528, while those in the 75th percentile reach up to $3,357. At the higher end, the 90th percentile tax bills can soar to $5,348. This variation significantly impacts homeowners, as higher property values result in higher tax liabilities. It's worth noting that the median tax bill in Whitesville is $2,310, which is considerably higher than the national median property tax rate of 0.99%. This underscores the importance of understanding property assessments and tax rates to anticipate annual tax obligations.
Average Whitesville Tax Bill
$2,310
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 Whitesville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14897 | $1,011 | $1,528 | $2,310 | $3,357 | $5,348 |
Source: Ownwell