Port Crane, New York Property Taxes
The median property tax rate in Port Crane, NY is 2.95%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $124,334, the typical annual property tax bill in Port Crane reaches $3,535, far exceeding the national median of $2,690. Property taxes in Port Crane are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Port Crane'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 Port Crane 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
Port Crane, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$3,668
$3,404
Ownwell’s Port Crane Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Port Crane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Crane 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 Port Crane, New York
Property taxes in Port Crane, New York, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Port Crane is 2.95%, which is significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Port Crane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Crane 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 Port Crane's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13833 has the highest median property tax rate of 2.95%, while the same zip code also has the lowest median tax rate of 2.95%. Understanding how these figures compare with Port Crane provides valuable insights into the varying tax landscape across Broome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Port Crane Tax Rate
2.95%
Average Broome County Tax Rate
3.50%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | 2.30% | 2.45% | 2.95% | 3.40% | 3.40% |
Source: Ownwell
Property Tax Assessment Values Across Port Crane, New York
In Port Crane, 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 Broome County Assessor 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 Port Crane, 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 Port Crane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Port Crane is $3,535 in the 13833 zip code, which matches the lowest median tax bill for the area.
Average Port Crane Assessed Value
$124,334
Average Broome County Assessed Value
$113,808
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | $53,333 | $86,957 | $124,334 | $161,900 | $222,025 |
Source: Ownwell
Property Tax Bills Across Port Crane, New York
In Port Crane, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value often differs from the market value, reflecting a percentage of the market price. For instance, the median home price in Port Crane is $124,334. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's location, size, and any improvements made. In Broome County, where Port Crane is located, tax bills can vary considerably. Homeowners at the 25th percentile pay around $2,472 annually, while those at the 75th percentile face bills of approximately $4,721. For the top 10% of homeowners, tax bills can soar to $6,450. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the community. Compared to the national median property tax rate of 0.99%, Port Crane's rates can be seen as reflective of the region's specific needs and property values.
Average Port Crane Tax Bill
$3,535
Average Broome County Tax Bill
$4,421
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Crane, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13833 | $1,464 | $2,472 | $3,535 | $4,721 | $6,450 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Broome Assessment Review Commission | |
| Website | gis.broomecountyny.gov |