Farmersville, New York Property Taxes
The median property tax rate in Farmersville, NY is 1.50%, considerably higher than the national median of 0.99%, yet lower than the New York state median of 2.39%. With the median home value in Farmersville at $176,184, the typical annual property tax bill reaches $2,634, just below the national median of $2,690. Property taxes in Farmersville 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 Farmersville'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 Farmersville 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
Farmersville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,643
$2,613
Ownwell’s Farmersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmersville 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 Farmersville, New York
Property taxes in Farmersville, 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 Farmersville is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Farmersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmersville 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 Farmersville's effective property tax rate to other areas in Cattaraugus County and the national median. For comparison, the zip code 14060 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these areas compare with Farmersville provides valuable insights into the varying tax landscape across Cattaraugus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farmersville Tax Rate
1.50%
Average Cattaraugus County Tax Rate
1.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmersville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Farmersville, New York
In Farmersville, 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 Cattaraugus 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 Farmersville, 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 Farmersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,634.00, found in zip code 14060.
Average Farmersville Assessed Value
$176,184
Average Cattaraugus County Assessed Value
$88,597
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farmersville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | $176,184 | $176,184 | $176,184 | $176,184 | $176,184 |
Source: Ownwell
Property Tax Bills Across Farmersville, New York
In Farmersville, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is typically a percentage of the property's market value. This assessed value is then multiplied by the tax rate set by local taxing authorities. For Farmersville, located in Cattaraugus County, the median home price is $176,184. Homeowners in this area face a median property tax bill of $2,634, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and improvements made to the property. The uniformity of the tax bill in Farmersville, with the 25th, 75th, and 90th percentiles all at $2,634, suggests a consistent application of tax rates across various property values. High property taxes can impact homeowners by increasing their annual expenses, potentially affecting their ability to afford their homes or invest in other areas.
Average Farmersville Tax Bill
$2,634
Average Cattaraugus County Tax Bill
$1,508
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmersville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14060 | $2,634 | $2,634 | $2,634 | $2,634 | $2,634 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Cattaraugus Assessment Review Commission | |
| Website | maps.cattco.org |