Horseheads, New York Property Taxes
The median property tax rate in Horseheads, NY is 2.64%, 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 Horseheads at $153,800, the typical annual property tax bill reaches $4,098, exceeding the national median of $2,690. Property taxes in Horseheads 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 Horseheads' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Horseheads or another part of Chemung County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Horseheads, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$4,060
$4,015
Ownwell’s Horseheads Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Horseheads with ease. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate for Horseheads to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Chemung County, is crucial for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Horseheads, New York
Property taxes in Horseheads, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horseheads is 2.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Horseheads set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horseheads 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 Horseheads' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14845 has the highest median property tax rate of 2.64%, while the same zip code also has the lowest median tax rate of 2.64%. Understanding how these areas compare with Horseheads provides valuable insights into the varying tax landscape across Chemung County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horseheads Tax Rate
2.64%
Average Chemung County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | 2.42% | 2.48% | 2.64% | 2.94% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Horseheads, New York
In Horseheads, 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 Chemung 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 Horseheads, 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. The median home price in Horseheads is $153,800, with median tax bills ranging from $3,141 at the 25th percentile to $7,768 at the 90th percentile. Notably, the highest and lowest median tax bills, both at $4,098, are found in zip code 14845. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Horseheads Assessed Value
$153,800
Average Chemung County Assessed Value
$104,684
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | $82,620 | $115,400 | $153,800 | $207,865 | $302,763 |
Source: Ownwell
Property Tax Bills Across Horseheads, New York
In Horseheads, within Chemung County, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in this area stands at $153,800. To calculate the tax bill, local authorities multiply the assessed value by the tax rate, which varies depending on the specific locality within the county. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. For homeowners in Horseheads, the property tax burden can vary significantly. For instance, the 25th percentile of tax bills is around $3,141, while those in the 75th percentile pay approximately $5,437. The 90th percentile sees even higher bills, reaching up to $7,768. The highest median tax bill recorded in the area is $4,098, which is notably higher than the national median property tax rate of 0.99%. These variations can significantly affect homeowners' financial planning and overall cost of living in Horseheads.
Average Horseheads Tax Bill
$4,098
Average Chemung County Tax Bill
$3,435
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Horseheads, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14845 | $2,239 | $3,141 | $4,098 | $5,437 | $7,768 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chemung Assessment Review Commission | |
| Website | www.arcgis.com |