Gates, New York Property Taxes
The median property tax rate in Gates, NY is 3.70%, 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 Gates at $127,400, the typical annual property tax bill reaches $4,632, exceeding the national median of $2,690. Property taxes in Gates 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 Gates' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gates 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
Gates, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.7%
Estimate Property Tax Bill
$4,714
$4,661
Ownwell’s Gates Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gates with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gates to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by Monroe County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gates, New York
Property taxes in Gates, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Gates is 3.70%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Gates set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gates 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 Gates' effective property tax rate to other areas in Monroe County and the national median. For comparison, the 14606 zip code has the highest median property tax rate of 3.71%, while the 14624 zip code has the lowest median tax rate of 3.69%. Understanding how these areas compare with Gates provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gates Tax Rate
3.70%
Average Monroe County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gates, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14606 | 2.11% | 3.15% | 3.71% | 4.21% | 4.26% |
| 14624 | 2.46% | 3.59% | 3.69% | 4.19% | 4.21% |
Source: Ownwell
Property Tax Assessment Values Across Gates, New York
In Gates, 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 Monroe 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 Gates, 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. Gates has a median home price of $127,400, with tax bills ranging from the 25th percentile at $4,224 to the 90th percentile at $5,702. The highest median tax bill is $4,727 in the 14624 zip code, while the lowest median tax bill is $4,528 in the 14606 zip code. By understanding 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 Gates helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gates Assessed Value
$127,400
Average Monroe County Assessed Value
$167,400
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gates, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14606 | $111,620 | $118,250 | $126,000 | $135,350 | $145,290 |
| 14624 | $120,180 | $123,900 | $128,050 | $131,400 | $144,870 |
Source: Ownwell
Property Tax Bills Across Gates, New York
In Gates, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Gates falls within Monroe County, where the property tax rates are among the highest in the nation. For instance, the median home price in Gates is $127,400, and the median property tax bill in the highest-taxed area (zip code 14624) is $4,727, significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or abatements. Homeowners in Gates can expect tax bills ranging from $4,224 at the 25th percentile to $5,702 at the 90th percentile. High property taxes can impact homeowners by increasing the overall cost of homeownership, making it crucial for residents to understand their tax liabilities and explore potential exemptions.
Average Gates Tax Bill
$4,632
Average Monroe County Tax Bill
$5,200
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Gates, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14606 | $2,648 | $3,962 | $4,528 | $5,328 | $5,969 |
| 14624 | $3,164 | $4,383 | $4,727 | $5,386 | $5,603 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Monroe Assessment Review Commission | |
| Website | app.regrid.com |