Woodhull, New York Property Taxes
The median property tax rate in Woodhull, NY is 2.54%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $91,158 in Woodhull, the typical annual property tax bill reaches $2,286, which is below the national median of $2,690. Property taxes in Woodhull 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 Woodhull'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 Woodhull or another part of Steuben County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodhull, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.54%
Estimate Property Tax Bill
$2,315
$2,289
Ownwell’s Woodhull Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodhull with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodhull 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 Woodhull, New York
Property taxes in Woodhull, New York, are essential for funding local services like public schools, road maintenance, and emergency services. The median tax rate in Woodhull is 2.54%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Woodhull set these rates annually, and they can vary across different neighborhoods. Each year, Woodhull 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 Woodhull's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14898 has the highest median property tax rate of 2.54%, while also having the lowest median tax rate of 2.54%. Understanding how these areas compare with Woodhull 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 Woodhull Tax Rate
2.54%
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 Woodhull, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14898 | 2.18% | 2.35% | 2.54% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Woodhull, New York
In Woodhull, 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 Steuben County Assessor's Office 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 Woodhull, 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 Woodhull helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14898 has the highest median tax bill at $2,286, which is significantly above the national median property tax rate of 0.99%.
Average Woodhull Assessed Value
$91,158
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 Woodhull, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14898 | $24,818 | $47,394 | $91,158 | $162,237 | $234,850 |
Source: Ownwell
Property Tax Bills Across Woodhull, New York
Property tax bills in Woodhull, located in Steuben County, NY, are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the property’s market value and apply an assessment ratio. Homeowners in Woodhull typically see a median property tax bill of $2,286, aligning with the national median property tax rate of 0.99%. However, individual tax bills can vary significantly. For instance, the 25th percentile tax bill stands at $1,230, while the 75th percentile reaches $4,028, and the 90th percentile can be as high as $5,656. These variations depend on factors such as property location, improvements, and market conditions. Higher property taxes can impact homeowners by increasing their annual financial obligations, but they also contribute to local services like schools, infrastructure, and public safety. Understanding these factors can help homeowners anticipate and manage their property tax responsibilities more effectively.
Average Woodhull Tax Bill
$2,286
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 Woodhull, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14898 | $616 | $1,230 | $2,286 | $4,028 | $5,656 |
Source: Ownwell