Waterport, New York Property Taxes
The median property tax rate in Waterport, NY is 2.93%, 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 Waterport standing at $126,100, the typical annual property tax bill reaches $3,691, exceeding the national median of $2,690. Property taxes in Waterport 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 Waterport'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 Waterport or another part of Orleans County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.93%
Estimate Property Tax Bill
$3,695
$3,653
Ownwell’s Waterport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterport 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 Waterport, New York
Property taxes in Waterport, 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 Waterport is 2.93%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Waterport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterport 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 Waterport's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14571 has the highest median property tax rate of 2.93%, while the same zip code also has the lowest median tax rate of 2.93%. Understanding how these cities compare with Waterport provides valuable insights into the varying tax landscape across Orleans County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterport Tax Rate
2.93%
Average Orleans County Tax Rate
3.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14571 | 2.70% | 2.81% | 2.93% | 3.06% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Waterport, New York
In Waterport, 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 Orleans 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 Waterport, 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 Waterport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Orleans County is 14571, with a median tax bill of $3,691.
Average Waterport Assessed Value
$126,100
Average Orleans County Assessed Value
$108,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14571 | $54,000 | $87,850 | $126,100 | $177,300 | $263,740 |
Source: Ownwell
Property Tax Bills Across Waterport, New York
In Waterport, Orleans County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Waterport is $126,100, which serves as a baseline for determining the tax bill. Homeowners can expect a range of tax bills, with the 25th percentile at $2,687 and the 75th percentile reaching $4,941. The 90th percentile tax bill can go as high as $7,153. The assessed value is determined by the local tax assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the tax bill. Compared to the national median property tax rate of 0.99%, Waterport's property taxes can be relatively high, reflecting the specific economic and policy conditions of Orleans County. This can significantly affect homeowners, influencing their overall housing costs and financial planning.
Average Waterport Tax Bill
$3,691
Average Orleans County Tax Bill
$3,855
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14571 | $1,749 | $2,687 | $3,691 | $4,941 | $7,153 |
Source: Ownwell