Whitney Point, New York Property Taxes
The median property tax rate in Whitney Point, NY is 2.72%, 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 Whitney Point at $106,400, the typical annual property tax bill reaches $2,978, exceeding the national median of $2,690. Property taxes in Whitney Point are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whitney Point'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 Whitney Point 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
Whitney Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.72%
Estimate Property Tax Bill
$2,894
$2,861
Ownwell’s Whitney Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitney Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitney Point 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 Whitney Point, New York
Property taxes in Whitney Point, 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 Whitney Point is 2.72%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Whitney Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitney Point 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 Whitney Point's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13862 has the highest median property tax rate of 2.72%, while the same zip code also has the lowest median tax rate of 2.72%. Understanding how these areas compare with Whitney Point 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 Whitney Point Tax Rate
2.72%
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 Whitney Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13862 | 2.60% | 2.72% | 2.72% | 2.99% | 3.16% |
Source: Ownwell
Property Tax Assessment Values Across Whitney Point, New York
In Whitney Point, 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 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 Whitney Point, 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 Whitney Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13862 has the highest and lowest median tax bill at $2,978.
Average Whitney Point Assessed Value
$106,400
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 Whitney Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13862 | $41,063 | $67,886 | $106,400 | $152,357 | $205,496 |
Source: Ownwell
Property Tax Bills Across Whitney Point, New York
In Whitney Point, located in Broome County, NY, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Whitney Point is $106,400, and the property tax rate is reflective of the local government’s budgetary needs. Factors such as the property's location, size, and condition influence its assessed value. Homeowners in Whitney Point can expect a wide range in their property tax bills. The 25th percentile tax bill is $1,883, while the 75th percentile tax bill reaches $4,284. For those in the 90th percentile, the tax bill can be as high as $5,824. Compared to the national median property tax rate of 0.99%, Whitney Point's rates can be significantly higher, impacting homeowners' annual expenses considerably. The highest and lowest median tax bills in the area are both $2,978, indicating a relatively consistent tax rate within the zip code 13862. These property taxes fund essential community services, including schools, public safety, and infrastructure, directly affecting the quality of life for residents.
Average Whitney Point Tax Bill
$2,978
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 Whitney Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13862 | $1,140 | $1,883 | $2,978 | $4,284 | $5,824 |
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 |