Honeoye Falls, New York Property Taxes
The median property tax rate in Honeoye Falls, NY is 2.91%, 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 Honeoye Falls at $292,700, the typical annual property tax bill reaches $8,220, exceeding the national median of $2,690. Property taxes in Honeoye Falls 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 Honeoye Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Honeoye Falls 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
Honeoye Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$8,518
$8,422
Ownwell’s Honeoye Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honeoye Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honeoye Falls 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 Honeoye Falls, New York
Property taxes in Honeoye Falls, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honeoye Falls is 2.91%, significantly higher than the U.S. national median of 0.99%. Local government entities within Honeoye Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honeoye Falls 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 Honeoye Falls' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14472 has the highest median property tax rate of 2.91%, while the same zip code also has the lowest median tax rate of 2.91%. Understanding how these cities compare with Honeoye Falls 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 Honeoye Falls Tax Rate
2.91%
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | 2.21% | 2.66% | 2.91% | 2.95% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Honeoye Falls, New York
In Honeoye Falls, 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 Honeoye Falls, 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 Honeoye Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14472 in Honeoye Falls has a median tax bill of $8,220.
Average Honeoye Falls Assessed Value
$292,700
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | $148,820 | $211,500 | $292,700 | $397,400 | $532,100 |
Source: Ownwell
Property Tax Bills Across Honeoye Falls, New York
Property tax bills in Honeoye Falls, located in Monroe County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of the property. Monroe County has a median home price of $292,700, which serves as a benchmark for property assessments. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Honeoye Falls can expect their tax bills to vary significantly, with the 25th percentile at $5,737 and the 75th percentile reaching $11,308. The 90th percentile sees tax bills as high as $15,343. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the premium placed on properties within this region. Consequently, homeowners need to budget accordingly to manage these substantial tax obligations.
Average Honeoye Falls Tax Bill
$8,220
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | $3,225 | $5,737 | $8,220 | $11,308 | $15,343 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Monroe Assessment Review Commission | |
| Website | app.regrid.com |