Linwood, New York Property Taxes
The median property tax rate in Linwood, NY is 2.80%, 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 Linwood, the typical annual property tax bill reaches $5,203, exceeding the national median of $2,690. Property taxes in Linwood 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 Linwood'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 Linwood 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
Linwood, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$5,348
$5,288
Ownwell’s Linwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linwood 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 Linwood, New York
Property taxes in Linwood, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 2.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Linwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linwood 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 Linwood's effective property tax rate to other areas in New York and the national median. For comparison, the 14486 zip code has the highest median property tax rate of 2.80%, while the lowest median tax rate is also 2.80%. Understanding how these cities compare with Linwood provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
2.80%
Average Genesee County Tax Rate
3.18%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14486 | 2.54% | 2.71% | 2.80% | 2.85% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Linwood, New York
In Linwood, 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 Genesee 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 Linwood, 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 Linwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Linwood, the median home price is $191,000. The median tax bill ranges from $1,986 at the 25th percentile to $8,699 at the 75th percentile, with the highest median tax bill being $5,203 in zip code 14486.
Average Linwood Assessed Value
$191,000
Average Genesee County Assessed Value
$137,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14486 | $73,740 | $79,050 | $191,000 | $305,300 | $314,840 |
Source: Ownwell
Property Tax Bills Across Linwood, New York
In Linwood, homeowners' property tax bills are calculated based on the assessed value of their property, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements or renovations made to the property. For instance, the median home price in Linwood is $191,000. Homeowners in the 25th percentile can expect a tax bill around $1,986, while those in the 75th percentile might see bills as high as $8,699. The 90th percentile tax bill can reach up to $9,212. These figures highlight the variability in tax bills based on property value and local tax rates. Compared to the national median property tax rate of 0.99%, Linwood's rates reflect the unique economic and real estate conditions of the area. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Linwood Tax Bill
$5,203
Average Genesee County Tax Bill
$4,359
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Linwood, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14486 | $1,976 | $1,986 | $5,203 | $8,699 | $9,212 |
Source: Ownwell