Portageville, New York Property Taxes
The median property tax rate in Portageville, NY is 3.88%, 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 Portageville, the typical annual property tax bill reaches $2,897, exceeding the national median of $2,690. Property taxes in Portageville 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 Portageville'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 Portageville 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
Portageville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.88%
Estimate Property Tax Bill
$2,920
$2,888
Ownwell’s Portageville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Portageville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portageville to provide an estimate of 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 Portageville, New York
Property taxes in Portageville, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portageville is 3.88%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Portageville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portageville 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 Portageville's effective property tax rate to other counties in New York and the national median. For comparison, the 14536 zip code has the highest median property tax rate of 3.88%, while the same zip code also has the lowest median tax rate of 3.88%. Understanding how these cities compare with Portageville 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 Portageville Tax Rate
3.88%
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 Portageville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14536 | 2.28% | 3.35% | 3.88% | 4.57% | 4.75% |
Source: Ownwell
Property Tax Assessment Values Across Portageville, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Portageville, 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 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 Portageville, 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 Portageville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 14536, with a median bill of $2,897.
Average Portageville Assessed Value
$75,269
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 Portageville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14536 | $27,857 | $48,724 | $75,269 | $107,143 | $175,204 |
Source: Ownwell
Property Tax Bills Across Portageville, New York
In Portageville, 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 county assessor and reflects a percentage of the property's market value. Various factors, such as property size, location, and improvements, are considered during the assessment process. For instance, Portageville has a median home price of $75,269, which serves as a starting point for tax calculations. The local tax rate is then applied to the assessed value to determine the annual property tax bill. In Portageville, the tax bill can vary significantly, with the 25th percentile at $1,892 and the 75th percentile at $3,983. For the top 10% of properties, the tax bill can reach up to $6,122. Comparatively, the highest median tax bill in Wyoming County is $2,897. High property taxes can impact homeowners by increasing their annual expenses, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to manage their budgets effectively.
Average Portageville Tax Bill
$2,897
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 Portageville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14536 | $795 | $1,892 | $2,897 | $3,983 | $6,122 |
Source: Ownwell