Steamburg, New York Property Taxes
The median property tax rate in Steamburg, NY is 1.24%, which is notably higher than the national median of 0.99%, yet lower than the New York state median of 2.39%. With a median home value of $63,000 in Steamburg, the typical annual property tax bill amounts to $717, which is significantly below the national median of $2,690. Property taxes in Steamburg are determined based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Steamburg's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial yearly savings. Whether you're residing in Steamburg or investing in real estate within the area, comprehending the local property tax nuances will be advantageous for both homeowners and investors.
Last Updated June 14, 2024
Steamburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$781
$772
Ownwell’s Steamburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steamburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steamburg 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 Steamburg, New York
Property taxes in Steamburg, New York, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Steamburg is 1.24%, which is higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Steamburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steamburg 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 Steamburg's effective property tax rate to other counties in New York and the national median. For comparison, the 14783 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Steamburg 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 Steamburg Tax Rate
1.24%
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 Steamburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14783 | 1.16% | 1.24% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Steamburg, New York
In Steamburg, 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 Cattaraugus 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 Steamburg, 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 Steamburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Steamburg are both $717, notably in zip code 14783.
Average Steamburg Assessed Value
$63,000
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 Steamburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14783 | $15,480 | $33,500 | $63,000 | $86,350 | $138,310 |
Source: Ownwell
Property Tax Bills Across Steamburg, New York
In Steamburg, located in Cattaraugus County, NY, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Homeowners in Steamburg can expect their property tax bill to vary significantly depending on the assessed value of their home. For instance, the median home price in Steamburg is $63,000. The property tax rate in Steamburg can lead to a range of tax bills. Homeowners at the 25th percentile pay around $343 annually, while those at the 75th percentile face bills closer to $1,059. At the 90th percentile, the tax bill can reach up to $1,418. The highest and lowest median tax bills in the area both stand at $717, located in zip code 14783. This variation in tax bills highlights the importance of the assessed value and local tax rates in determining the financial impact on homeowners.
Average Steamburg Tax Bill
$717
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 Steamburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14783 | $251 | $343 | $717 | $1,059 | $1,418 |
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 |