Prattsburgh, New York Property Taxes
The median property tax rate in Prattsburgh, NY is 2.77%, 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 Prattsburgh at $313,800, the typical annual property tax bill reaches $8,338, exceeding the national median of $2,690. Property taxes in Prattsburgh 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 Prattsburgh'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 Prattsburgh or another part of Yates County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prattsburgh, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.77%
Estimate Property Tax Bill
$8,692
$8,594
Ownwell’s Prattsburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prattsburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prattsburgh 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 Prattsburgh, New York
Property taxes in Prattsburgh, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prattsburgh is 2.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prattsburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prattsburgh 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 Prattsburgh's effective property tax rate to other counties in New York and the national median. For comparison, the 14873 zip code has the highest median property tax rate of 2.77%, while the same zip code also has the lowest median tax rate of 2.77%. Understanding how these areas compare with Prattsburgh provides valuable insights into the varying tax landscape across Yates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prattsburgh Tax Rate
2.77%
Average Yates County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | 2.66% | 2.77% | 2.77% | 2.77% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Prattsburgh, New York
In Prattsburgh, 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 Yates County Assessment 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 Prattsburgh, 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 Prattsburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $313,800, with the median tax bill at $8,338 in zip code 14873.
Average Prattsburgh Assessed Value
$313,800
Average Yates County Assessed Value
$166,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | $147,150 | $254,050 | $313,800 | $336,500 | $364,600 |
Source: Ownwell
Property Tax Bills Across Prattsburgh, New York
In Prattsburgh, NY, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is estimated by local assessors. Once the assessed value is established, it is multiplied by the local tax rate to calculate the tax bill. For instance, the median home price in Prattsburgh is $313,800, and with varying tax rates across different properties, tax bills can range significantly. Factors such as property size, location, and improvements play a crucial role in determining the assessed value. Homeowners in Prattsburgh can see tax bills that fall within the 25th percentile at $6,874, reaching up to the 90th percentile at $10,112. The highest median tax bill in the area is $8,338. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, which directly impact the quality of life for homeowners in the region.
Average Prattsburgh Tax Bill
$8,338
Average Yates County Tax Bill
$3,654
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Prattsburgh, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14873 | $4,081 | $6,874 | $8,338 | $9,321 | $10,112 |
Source: Ownwell