Guilford, New York Property Taxes
The median property tax rate in Guilford, NY is 3.45%, 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 Guilford, the typical annual property tax bill reaches $3,163, exceeding the national median of $2,690. Property taxes in Guilford 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 Guilford'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 Guilford 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
Guilford, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.45%
Estimate Property Tax Bill
$3,217
$3,181
Ownwell’s Guilford Property Tax Bill Calculator allows homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Guilford with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Guilford to provide an estimate of your property tax bill. This insightful tool enables you to understand potential tax liabilities effectively. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Guilford, New York
Property taxes in Guilford, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guilford is 3.45%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Guilford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guilford 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 Guilford's effective property tax rate to other counties in New York and the national median. For comparison, the 13780 zip code has the highest median property tax rate of 3.45%, while the same zip code also has the lowest median tax rate of 3.45%. Understanding how these cities compare with Guilford provides valuable insights into the varying tax landscape across Chenango County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guilford Tax Rate
3.45%
Average Chenango County Tax Rate
3.08%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guilford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13780 | 2.78% | 3.23% | 3.45% | 3.45% | 3.70% |
Source: Ownwell
Property Tax Assessment Values Across Guilford, New York
In Guilford, 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 local 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 Guilford, 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 instance, the highest median tax bill in the area is $3,163 in zip code 13780. 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 Guilford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guilford Assessed Value
$93,258
Average Chenango County Assessed Value
$92,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guilford, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13780 | $35,506 | $59,157 | $93,258 | $142,922 | $208,989 |
Source: Ownwell
Property Tax Bills Across Guilford, New York
In Guilford, located in Chenango County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. This figure is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For example, the median home price in Guilford is $93,258, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $1,998 annually, while those in the 75th percentile pay approximately $4,851. At the 90th percentile, the tax bill can reach up to $7,056. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these factors impact their tax bills is crucial for financial planning and property management.
Average Guilford Tax Bill
$3,163
Average Chenango County Tax Bill
$2,965
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Guilford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13780 | $1,177 | $1,998 | $3,163 | $4,851 | $7,056 |
Source: Ownwell