Montour Falls, New York Property Taxes
The median property tax rate in Montour Falls, NY is 2.53%, 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 Montour Falls at $136,500, the typical annual property tax bill reaches $4,071, exceeding the national median of $2,690. Property taxes in Montour 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 Montour 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 Montour 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
Montour Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$3,453
$3,415
Ownwell’s Montour Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montour Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montour 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 Montour Falls, New York
Property taxes in Montour Falls, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montour Falls is 2.53%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Montour Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montour 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 Montour Falls' effective property tax rate to other counties in New York and the national median. For comparison, the 14865 zip code has the highest median property tax rate of 2.53%, while the same 14865 zip code also has the lowest median tax rate of 2.53%. Understanding how these cities compare with Montour Falls provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montour Falls Tax Rate
2.53%
Average Schuyler County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montour Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14865 | 1.98% | 2.40% | 2.53% | 3.80% | 3.80% |
Source: Ownwell
Property Tax Assessment Values Across Montour Falls, New York
In Montour 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 Schuyler County 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 Montour 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 Montour Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Montour Falls is $136,500, with median tax bills ranging from $2,869 at the 25th percentile to $7,410 at the 90th percentile. The highest and lowest median tax bills are both $4,071 in the 14865 zip code.
Average Montour Falls Assessed Value
$136,500
Average Schuyler County Assessed Value
$150,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montour Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14865 | $64,700 | $97,600 | $136,500 | $188,200 | $266,860 |
Source: Ownwell
Property Tax Bills Across Montour Falls, New York
In Montour Falls, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects a percentage of the property's market value. For homeowners in Montour Falls, Schuyler County, the median home price is $136,500. The property tax rate in this region significantly impacts the tax bill, with the national median property tax rate being 0.99%. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. Homeowners in Montour Falls can expect their tax bills to vary, with the 25th percentile tax bill at $2,869 and the 75th percentile reaching $5,503. The 90th percentile tax bill can go up to $7,410, indicating that higher-value properties face substantially larger tax obligations. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly, ensuring they are prepared for their annual property tax bills.
Average Montour Falls Tax Bill
$4,071
Average Schuyler County Tax Bill
$3,536
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Montour Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14865 | $1,655 | $2,869 | $4,071 | $5,503 | $7,410 |
Source: Ownwell