Ceres, New York Property Taxes
The median property tax rate in Ceres, NY is 3.42%, 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 Ceres, the typical annual property tax bill reaches $2,219, which is below the national median of $2,690. Property taxes in Ceres 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 Ceres'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 Ceres 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
Ceres, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.42%
Estimate Property Tax Bill
$2,425
$2,398
Ownwell’s Ceres Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ceres with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ceres 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 Ceres, New York
Property taxes in Ceres, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ceres is 3.42%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Ceres set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ceres 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 Ceres' effective property tax rate to other counties in New York and the national median. For comparison, the 14721 ZIP code has the highest median property tax rate of 3.42%, while the same ZIP code also has the lowest median tax rate of 3.42%. Understanding how these areas compare with Ceres provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ceres Tax Rate
3.42%
Average Allegany County Tax Rate
3.64%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ceres, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14721 | 3.24% | 3.42% | 3.42% | 3.42% | 3.42% |
Source: Ownwell
Property Tax Assessment Values Across Ceres, New York
In Ceres, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Allegany County 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 Ceres, 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. The highest median tax bill in Ceres is in the 14721 zip code, amounting to $2,219. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ceres Assessed Value
$70,908
Average Allegany County Assessed Value
$72,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ceres, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14721 | $25,000 | $38,585 | $70,908 | $95,230 | $125,605 |
Source: Ownwell
Property Tax Bills Across Ceres, New York
In Ceres, located in Allegany County, NY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate properties to reflect their market value. Homeowners in Ceres face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $1,243, while the 75th percentile tax bill reaches approximately $3,208. The highest tax bills, at the 90th percentile, can go up to $4,287. These tax bills are influenced by several factors, including property size, location, and market conditions. Homeowners in Ceres should be aware that their property taxes are higher than the national median property tax rate of 0.99%. This higher rate can impact homeowners by increasing their annual financial obligations, making it crucial for them to stay informed about their property’s assessed value and any potential exemptions they may qualify for.
Average Ceres Tax Bill
$2,219
Average Allegany County Tax Bill
$2,710
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Ceres, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14721 | $818 | $1,243 | $2,219 | $3,208 | $4,287 |
Source: Ownwell