Lyon Mountain, New York Property Taxes
The median property tax rate in Lyon Mountain, NY is 2.06%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $134,237 in Lyon Mountain, the typical annual property tax bill reaches $2,715, surpassing the national median of $2,690. Property taxes in Lyon Mountain are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Lyon Mountain's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lyon Mountain or elsewhere in Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lyon Mountain, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$2,765
$2,734
Ownwell’s Lyon Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyon Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyon Mountain 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 Lyon Mountain, New York
Property taxes in Lyon Mountain, 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 Lyon Mountain is 2.06%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lyon Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyon Mountain 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 Lyon Mountain's effective property tax rate to other counties in New York and the national median. For comparison, the 12955 zip code has both the highest and lowest median property tax rate of 2.06%. Understanding how these cities compare with Lyon Mountain provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyon Mountain Tax Rate
2.06%
Average Franklin County Tax Rate
2.45%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyon Mountain, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12955 | 2.04% | 2.04% | 2.06% | 2.06% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Lyon Mountain, New York
In Lyon Mountain, 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 Franklin 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 Lyon Mountain, 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 median home price in Lyon Mountain is $134,237, with tax bills ranging from $1,257 at the 25th percentile to $7,030 at the 90th percentile. The highest median tax bill recorded is $2,715 in the 12955 zip code, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lyon Mountain Assessed Value
$134,237
Average Franklin County Assessed Value
$100,730
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyon Mountain, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12955 | $43,096 | $64,124 | $134,237 | $259,887 | $354,847 |
Source: Ownwell
Property Tax Bills Across Lyon Mountain, New York
In Lyon Mountain, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lyon Mountain is $134,237, and homeowners can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $1,257, while the 75th percentile tax bill is $5,181, and at the 90th percentile, it can go up to $7,030. These variations depend on the specific assessed values and any applicable exemptions. The assessed value is determined by local assessors and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. In Lyon Mountain, the highest and lowest median tax bills are both $2,715, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in Lyon Mountain should be prepared for these costs, which can have a substantial impact on their annual expenses.
Average Lyon Mountain Tax Bill
$2,715
Average Franklin County Tax Bill
$2,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyon Mountain, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12955 | $865 | $1,257 | $2,715 | $5,181 | $7,030 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Franklin Assessment Review Commission | |
| Website | maps.dancgis.org |