Chenango Bridge, New York Property Taxes
The median property tax rate in Chenango Bridge, NY is 3.35%, 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 Chenango Bridge at $147,387, the typical annual property tax bill reaches $4,256, exceeding the national median of $2,690. Property taxes in Chenango Bridge 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 Chenango Bridge'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 Chenango Bridge 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
Chenango Bridge, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.35%
Estimate Property Tax Bill
$4,937
$4,882
Ownwell’s Chenango Bridge Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Chenango Bridge. By simply entering your property's estimated assessed value, the calculator applies the median tax rate specific to Chenango Bridge, giving you a clear picture of your potential tax liabilities. This user-friendly tool helps you make informed decisions about your property investments. To explore trends at a more granular level, scroll down for localized information. Remember, your property’s assessed value is determined by Broome County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Chenango Bridge, New York
Property taxes in Chenango Bridge, 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 Chenango Bridge is 3.35%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Chenango Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chenango Bridge 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 Chenango Bridge's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13745 has both the highest and lowest median property tax rate of 3.35%. Understanding how these cities compare with Chenango Bridge provides valuable insights into the varying tax landscape across Broome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chenango Bridge Tax Rate
3.35%
Average Broome County Tax Rate
3.50%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chenango Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13745 | 2.74% | 2.89% | 3.35% | 3.35% | 3.46% |
Source: Ownwell
Property Tax Assessment Values Across Chenango Bridge, New York
In Chenango Bridge, 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 Broome 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 Chenango Bridge, 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 Chenango Bridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $4256.00, found in the 13745 zip code.
Property Tax Assessment Values Across Chenango Bridge, New York
Source: Ownwell
$57,486
$113,543
$169,600
Average Chenango Bridge Assessed Value
$147,387
Average Broome County Assessed Value
$113,808
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chenango Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13745 | $105,188 | $118,739 | $147,387 | $170,991 | $195,748 |
Source: Ownwell
Property Tax Bills Across Chenango Bridge, New York
In Chenango Bridge, located in Broome County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and is meant to represent the market value of the property. Homeowners in this area face a median property tax bill of $4,256, which stands significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For instance, homes in the 25th percentile have tax bills around $4,199, while those in the 75th percentile face bills closer to $5,721. At the 90th percentile, tax bills can reach up to $6,549. This variability highlights the importance of accurate property assessments and the potential financial impact on homeowners. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Chenango Bridge Tax Bill
$4,256
Average Broome County Tax Bill
$4,421
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Chenango Bridge, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13745 | $3,199 | $4,199 | $4,256 | $5,721 | $6,549 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Broome Assessment Review Commission | |
| Website | gis.broomecountyny.gov |