Kanona, New York Property Taxes
The median property tax rate in Kanona, NY is 2.87%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Kanona at $83,556, the typical annual property tax bill reaches $2,398, which is below the national median of $2,690. Property taxes in Kanona are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Kanona'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 Kanona or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kanona, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$2,398
$2,371
Ownwell’s Kanona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kanona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kanona 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 Kanona, New York
Property taxes in Kanona, 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 Kanona is 2.87%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Kanona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kanona 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 Kanona's effective property tax rate to other counties in New York and the national median. For comparison, the 14856 zip code has both the highest and lowest median property tax rate of 2.87%. Understanding how these cities compare with Kanona provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kanona Tax Rate
2.87%
Average Steuben County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kanona, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14856 | 2.85% | 2.86% | 2.87% | 2.89% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Kanona, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kanona, NY. 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 Steuben 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 Kanona, 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 Kanona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14856 has the highest and lowest median tax bill, both at $2398.
Average Kanona Assessed Value
$83,556
Average Steuben County Assessed Value
$102,326
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kanona, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14856 | $42,666 | $68,333 | $83,556 | $106,667 | $138,889 |
Source: Ownwell
Property Tax Bills Across Kanona, New York
In Kanona, Steuben County, NY, 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 is intended to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For example, homeowners in Kanona can expect property tax bills to vary significantly, with the 25th percentile tax bill being $1,976 and the 75th percentile reaching $3,055. The highest median tax bill in the area is $2,398. Factors that influence the tax bill include the property's location, size, and condition. Local government budgets and school funding needs also play a role in setting the tax rate. For homeowners, this means that higher property values and increased local spending can result in higher tax bills. Compared to the national median property tax rate of 0.99%, Kanona's property tax rates can be relatively high, impacting overall affordability for homeowners.
Average Kanona Tax Bill
$2,398
Average Steuben County Tax Bill
$2,992
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Kanona, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14856 | $1,254 | $1,976 | $2,398 | $3,055 | $3,961 |
Source: Ownwell