Belfast, Allegany County, New York Property Taxes
Median Belfast, NY effective property tax rate: 3.63%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Belfast, NY home value: $69,700
Median annual Belfast, NY tax bill: $2,498, $98 higher than the national median property tax bill of $2,400.
How are property taxes in Allegany calculated?
Property taxes in Belfast, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Belfast’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Belfast, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Belfast, Allegany County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.63%
Estimate Property Tax Bill
$2,530
$2,348
Property Tax Rates Across Belfast, Allegany County, New York
Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While the process involves votes and laws, this is the crux of how it works annually.
In Belfast, located in Allegany County, the effective property tax rate stands out when compared to other cities in New York and the national median. With a median property tax rate of 3.63%, Belfast's rate is significantly higher than the national median of 1.02%. This rate reflects the local government's approach to budgeting and service provision. Understanding these differences can help property owners in Belfast make informed decisions about property tax appeals and exemptions. By being aware of how these rates compare to other regions, residents can better navigate the complexities of property tax assessments and potentially reduce their tax burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Belfast Tax Rate
3.63%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Allegany County Tax Rate
3.64%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Belfast, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14711 | 3.25% | 3.54% | 3.63% | 3.76% | 3.83% |
Source: Ownwell
Property Tax Assessment Values Across Belfast, Allegany County, New York
When examining property taxes in Belfast, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Allegany County assessment office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Allegany County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Belfast. For example, the median home price in Belfast is $69,700, with tax bills ranging significantly across the county. ZIP code 14711 has the highest median home price at $69,700.
Property Tax Assessment Values Across Belfast, Allegany County, New York
Source: Ownwell
$46,700
$83,018
$119,336
Median Belfast Market Value
$69,700
Median Allegany County Market Value
$72,000
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Belfast, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14711 | $21,900 | $42,500 | $69,700 | $100,000 | $146,980 |
Source: Ownwell
Property Tax Bills Across Belfast, Allegany County, New York
Median Belfast Tax Bill
$2,498
Median Allegany County Tax Bill
$2,710
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Belfast, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14711 | $803 | $1,556 | $2,498 | $3,604 | $5,103 |
Source: Ownwell