Belmont, Allegany County, New York Property Taxes
Median Belmont, NY effective property tax rate: 3.37%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Belmont, NY home value: $64,600
Median annual Belmont, NY tax bill: $2,351, $49 lower than the national median property tax bill of $2,400.
How are property taxes in Allegany calculated?
Property taxes in Belmont, 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 Belmont’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Belmont, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Belmont, Allegany County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.37%
Estimate Property Tax Bill
$2,177
$2,020
Property Tax Rates Across Belmont, Allegany County, New York
Local government entities are responsible for setting property tax rates, leading to significant variation within a state. This is because each county annually estimates the budget needed for services and divides this by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the process followed each year.
In Belmont, located in Allegany County, NY, the effective property tax rate is notably higher than the national median of 1.02%. With a median property tax rate of 3.37%, Belmont stands out in the state. This rate is also the highest in the area, with no variation in median tax rates across zip codes in Allegany County. When compared to the national median property tax bill of $2400, property owners in Belmont face considerably higher tax obligations. Understanding these rates is crucial for property owners who are navigating their financial commitments and considering potential appeals or exemptions.
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 Belmont Tax Rate
3.37%
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 Belmont, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14813 | 3.18% | 3.37% | 3.37% | 4.11% | 4.11% |
Source: Ownwell
Property Tax Assessment Values Across Belmont, Allegany County, New York
When examining property taxes in Belmont, 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 appraisal district 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 the season. 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 Belmont. For example, the median home price in Belmont is $64,600, with tax bills ranging significantly across the county. Zip code 14813 has the highest median home price at $64,600.
Property Tax Assessment Values Across Belmont, Allegany County, New York
Source: Ownwell
$46,700
$83,018
$119,336
Median Belmont Market Value
$64,600
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 Belmont, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14813 | $25,620 | $42,950 | $64,600 | $96,400 | $149,580 |
Source: Ownwell
Property Tax Bills Across Belmont, Allegany County, New York
Median Belmont Tax Bill
$2,351
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 Belmont, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14813 | $911 | $1,526 | $2,351 | $3,439 | $5,231 |
Source: Ownwell