Wellsburg, New York Property Taxes
The median property tax rate in Wellsburg, NY is 3.14%, 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 Wellsburg, the typical annual property tax bill reaches $3,325, exceeding the national median of $2,690. Property taxes in Wellsburg 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 Wellsburg'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 Wellsburg 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
Wellsburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$3,294
$3,257
Ownwell’s Wellsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellsburg 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 Wellsburg, New York
Property taxes in Wellsburg, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsburg is 3.14%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Wellsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsburg 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 Wellsburg's effective property tax rate to other counties in New York and the national median. For comparison, the 14894 zip code has the highest median property tax rate of 3.14%, while the same zip code also has the lowest median tax rate of 3.14%. Understanding how these cities compare with Wellsburg 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 Wellsburg Tax Rate
3.14%
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 Wellsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14894 | 2.66% | 3.03% | 3.14% | 3.56% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Wellsburg, New York
In Wellsburg, 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 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 Wellsburg, 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. For example, the zip code 14894 has the highest and lowest median tax bill, both at $3,325. 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 Wellsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wellsburg Assessed Value
$104,895
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 Wellsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14894 | $49,650 | $76,923 | $104,895 | $139,860 | $167,832 |
Source: Ownwell
Property Tax Bills Across Wellsburg, New York
In Wellsburg, located in Chemung 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 reflects a percentage of the property's market value. Factors such as property size, location, and improvements can influence this valuation. The local tax rate is applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $104,895, homeowners in Wellsburg can expect their tax bills to vary significantly. The 25th percentile tax bill is around $2,414, while the 75th percentile reaches up to $4,279, and the 90th percentile even hits $5,145. Compared to the national median property tax rate of 0.99%, these figures highlight a substantial range in tax obligations. Such variability can impact homeowners' financial planning, influencing decisions on property investments, renovations, and overall housing affordability.
Average Wellsburg Tax Bill
$3,325
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 Wellsburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14894 | $1,602 | $2,414 | $3,325 | $4,279 | $5,145 |
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 |