Portville, New York Property Taxes
The median property tax rate in Portville, NY is 1.29%, which is notably higher than the national median of 0.99% but significantly lower than the New York state median of 2.39%. With a median home value of $77,346 in Portville, the typical annual property tax bill amounts to $1,061, well below the national median of $2,690. Property taxes in Portville are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Portville'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 Portville or another part of Cattaraugus County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Portville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$998
$987
Ownwell’s Portville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portville 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 Portville, New York
Property taxes in Portville, NY, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portville is 1.29%, higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Portville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portville 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 Portville's effective property tax rate to other counties in New York and the national median. For comparison, the 14770 zip code has both the highest and lowest median property tax rate of 1.29%. Understanding how these areas compare with Portville provides valuable insights into the varying tax landscape across Cattaraugus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portville Tax Rate
1.29%
Average Cattaraugus County Tax Rate
1.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14770 | 1.14% | 1.29% | 1.29% | 1.44% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Portville, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Portville, New York. 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 Cattaraugus 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 Portville, 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. For instance, the median home price in Portville is $77,346, with tax bills ranging from $724 at the 25th percentile to $2,129 at the 90th percentile. The highest and lowest median tax bills, both at $1,061, are found in the 14770 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Portville Assessed Value
$77,346
Average Cattaraugus County Assessed Value
$88,597
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Portville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14770 | $33,902 | $53,580 | $77,346 | $99,498 | $135,704 |
Source: Ownwell
Property Tax Bills Across Portville, New York
In Portville, NY, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Homeowners in Portville can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $724, while the 75th percentile reaches $1,433, and the 90th percentile can be as high as $2,129. These variations are influenced by factors such as property size, location, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Portville's property tax rates can have a considerable impact on homeowners' annual expenses. Understanding these factors helps residents anticipate their financial obligations and plan accordingly. The highest and lowest median tax bills in the area are both recorded at $1,061 in zip code 14770, indicating a relatively stable tax environment within that specific region.
Average Portville Tax Bill
$1,061
Average Cattaraugus County Tax Bill
$1,508
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Portville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14770 | $446 | $724 | $1,061 | $1,433 | $2,129 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Cattaraugus Assessment Review Commission | |
| Website | maps.cattco.org |