Marion, New York Property Taxes
The median property tax rate in Marion, NY is 3.04%, 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 Marion, the typical annual property tax bill reaches $4,941, exceeding the national median of $2,690. Property taxes in Marion 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 Marion'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 Marion 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
Marion, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.04%
Estimate Property Tax Bill
$4,924
$4,868
Ownwell’s Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion 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 Marion, New York
Property taxes in Marion, New York, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Marion is 3.04%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion 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 Marion's effective property tax rate to other counties in New York and the national median. For comparison, the 14505 zip code has the highest median property tax rate of 3.04%, while the same zip code also has the lowest median tax rate of 3.04%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
3.04%
Average Wayne County Tax Rate
3.01%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14505 | 2.81% | 2.90% | 3.04% | 3.17% | 3.27% |
Source: Ownwell
Property Tax Assessment Values Across Marion, New York
In Marion, 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 Wayne 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 Marion, 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 Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Marion is $4,941 in the 14505 zip code, while the lowest is also $4,941 in the same zip code.
Average Marion Assessed Value
$161,972
Average Wayne County Assessed Value
$152,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14505 | $105,310 | $131,636 | $161,972 | $204,225 | $267,658 |
Source: Ownwell
Property Tax Bills Across Marion, New York
In Marion, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $161,972, homeowners in Marion can expect varying tax bills. The 25th percentile tax bill is around $4,012, while the 75th percentile reaches approximately $6,240, and the 90th percentile can go up to $8,044, significantly affecting household budgets. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Marion's rates can be relatively high, reflecting the specific needs and budgetary requirements of the local government. Homeowners must stay informed about these factors, as they directly impact the affordability and financial planning associated with owning property in Marion.
Average Marion Tax Bill
$4,941
Average Wayne County Tax Bill
$4,668
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14505 | $3,193 | $4,012 | $4,941 | $6,240 | $8,044 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Wayne Assessment Review Commission | |
| Website | wayne.sdgnys.com |