Cuba, Allegany County, New York Property Taxes
Median Cuba, NY effective property tax rate: 3.39%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Cuba, NY home value: $78,824
Median annual Cuba, NY tax bill: $2,989, $589 higher than the national median property tax bill of $2,400.
How are property taxes in Allegany County calculated?
Property taxes in Cuba, 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 Cuba’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cuba, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cuba, Allegany County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.39%
Estimate Property Tax Bill
$2,672
$2,480
Property Tax Rates Across Cuba, Allegany County, New York
Local government entities are responsible for setting tax rates, which can differ significantly across New York. Each county estimates the budget needed for services and divides it by the total taxable property value within its jurisdiction to determine the property tax rate. This process, although subject to votes and laws, essentially sets the annual tax rate.
Cuba, located in Allegany County, has an effective property tax rate that stands out when compared to other cities in New York. The median property tax rate in Cuba is notably higher than the national median rate of 1.02%. This difference highlights the variability in property tax rates across different regions.
For property owners in Cuba, this means that the property tax bills are generally higher than the national median property tax bill of $2400. Understanding these rates is crucial for property owners to manage their expenses effectively. Comparing Cuba's tax rate to both state and national averages can provide valuable insights for homeowners and potential buyers in the area.
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 Cuba Tax Rate
3.39%
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 Cuba, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14727 | 3.22% | 3.31% | 3.39% | 4.09% | 4.46% |
Source: Ownwell
Property Tax Assessment Values Across Cuba, Allegany County, New York
When examining property taxes in Cuba, 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 May. 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 Cuba. For example, the median home price in Cuba is $78,824, with tax bills ranging significantly across the county. Zip code 14727 has the highest median home price at $78,824.
Property Tax Assessment Values Across Cuba, Allegany County, New York
Source: Ownwell
$46,700
$83,018
$119,336
Median Cuba Market Value
$78,824
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 Cuba, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14727 | $23,959 | $46,765 | $78,824 | $123,088 | $199,243 |
Source: Ownwell
Property Tax Bills Across Cuba, Allegany County, New York
Median Cuba Tax Bill
$2,989
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 Cuba, Allegany County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14727 | $902 | $1,722 | $2,989 | $4,516 | $7,225 |
Source: Ownwell