Stow, New York Property Taxes
The median property tax rate in Stow, NY is 1.92%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Stow, the typical annual property tax bill reaches $3,216, surpassing the national median of $2,690. Property taxes in Stow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stow'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 Stow 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
Stow, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$3,234
$3,198
Ownwell’s Stow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stow 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 Stow, New York
Property taxes in Stow, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stow is 1.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stow 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 Stow's effective property tax rate to other areas in Chautauqua County and the national median. For comparison, the zip code 14785 has the highest median property tax rate of 1.92%, while the same zip code also has the lowest median tax rate of 1.92%. Understanding how these cities compare with Stow provides valuable insights into the varying tax landscape across Chautauqua County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stow Tax Rate
1.92%
Average Chautauqua County Tax Rate
2.90%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14785 | 1.91% | 1.92% | 1.92% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Stow, New York
In Stow, 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 Chautauqua 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 Stow, 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 Stow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 14785 has both the highest and lowest median tax bill, standing at $3,216.
Average Stow Assessed Value
$168,450
Average Chautauqua County Assessed Value
$91,916
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stow, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14785 | $20,860 | $80,100 | $168,450 | $297,250 | $393,106 |
Source: Ownwell
Property Tax Bills Across Stow, New York
In Stow, NY, property tax bills are calculated based on the assessed value of a property and the applicable tax rate set by local authorities. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to arrive at the annual property tax bill. Several factors influence the assessed value, including the property's location, size, condition, and recent sales of comparable properties in the area. Homeowners in Stow can expect a range of tax bills. For instance, the 25th percentile tax bill is around $1,527, while the 75th percentile is about $5,625. At the higher end, the 90th percentile tax bill reaches approximately $7,469. These property taxes fund essential community services such as public schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, the tax rates in Stow reflect a significant financial consideration for homeowners, impacting their overall cost of living and property investment decisions.
Average Stow Tax Bill
$3,216
Average Chautauqua County Tax Bill
$2,807
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Stow, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14785 | $402 | $1,527 | $3,216 | $5,625 | $7,469 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chautauqua Assessment Review Commission | |
| Website | chautauquacounty.maps.arcgis.com |