Castile, New York Property Taxes
The median property tax rate in Castile, NY is 3.15%, 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 Castile, the typical annual property tax bill reaches $3,510, exceeding the national median of $2,690. Property taxes in Castile 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 Castile'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 Castile 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
Castile, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.15%
Estimate Property Tax Bill
$3,623
$3,582
Ownwell’s Castile Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castile with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castile 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 Castile, New York
Property taxes in Castile, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castile is 3.15%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Castile set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castile 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 Castile's effective property tax rate to other counties in New York and the national median. For comparison, the 14427 zip code has the highest median property tax rate of 3.15%, while the same zip code also has the lowest median tax rate of 3.15%. Understanding how these cities compare with Castile provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castile Tax Rate
3.15%
Average Wyoming County Tax Rate
2.98%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castile, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14427 | 2.57% | 2.75% | 3.15% | 3.29% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Castile, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Castile, New York. 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 local 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 Castile, 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 Castile helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both found in the 14427 zip code, averaging $3,510.
Average Castile Assessed Value
$115,000
Average Wyoming County Assessed Value
$124,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castile, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14427 | $53,173 | $82,000 | $115,000 | $165,000 | $259,000 |
Source: Ownwell
Property Tax Bills Across Castile, New York
In Castile, Wyoming County, NY, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Castile is $115,000. Your tax bill is determined by multiplying the assessed value by the local tax rate, which varies within the county. Factors such as property size, location, and improvements can affect the assessed value. For instance, tax bills in the 25th percentile are around $2,559, while those in the 75th percentile reach up to $4,852. Homeowners at the 90th percentile see tax bills as high as $6,758. These property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Castile might experience higher or lower rates depending on specific circumstances. Understanding how these factors influence your property tax bill can help you better manage your finances and anticipate future expenses.
Average Castile Tax Bill
$3,510
Average Wyoming County Tax Bill
$3,932
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Castile, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14427 | $1,630 | $2,559 | $3,510 | $4,852 | $6,758 |
Source: Ownwell