Silver Creek, New York Property Taxes
The median property tax rate in Silver Creek, NY is 2.66%, 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 Silver Creek, the typical annual property tax bill reaches $3,187, exceeding the national median of $2,690. Property taxes in Silver Creek are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Silver Creek'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 Silver Creek 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
Silver Creek, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.66%
Estimate Property Tax Bill
$2,930
$2,897
Ownwell’s Silver Creek Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Silver Creek. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Creek to provide an accurate estimate of your property tax bill. This valuable insight helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more localized information, neighborhood-level trends are also available. Your property's assessed value is determined by Chautauqua County for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Silver Creek, New York
Property taxes in Silver Creek, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Creek is 2.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Silver Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Creek 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 Silver Creek's effective property tax rate to other areas in New York and the national median. For comparison, the 14136 zip code has both the highest and lowest median property tax rate of 2.66%. Understanding how these cities compare with Silver Creek provides valuable insights into the varying tax landscape across Chautauqua County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silver Creek Tax Rate
2.66%
Average Chautauqua County Tax Rate
2.90%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14136 | 2.44% | 2.47% | 2.66% | 3.38% | 3.38% |
Source: Ownwell
Property Tax Assessment Values Across Silver Creek, New York
In Silver Creek, 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 Chautauqua 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 Silver Creek, 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. Silver Creek residents should note that the highest and lowest median tax bills are both $3,187 in the 14136 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Silver Creek Assessed Value
$110,145
Average Chautauqua County Assessed Value
$91,916
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silver Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14136 | $57,971 | $81,784 | $110,145 | $152,174 | $210,145 |
Source: Ownwell
Property Tax Bills Across Silver Creek, New York
In Silver Creek, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to compute the annual tax bill. Factors such as property size, location, and market conditions are considered during the assessment process. In Silver Creek, the median home price stands at $110,145, with tax bills varying significantly across different percentiles. For example, the 25th percentile tax bill is around $2,507, while the 75th percentile reaches $4,190, and the 90th percentile can go up to $5,632. These property taxes play a crucial role in funding local services like schools, infrastructure, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Silver Creek's rates reflect the local market and funding needs. High property taxes can affect homeowners by increasing their monthly expenses, but they also contribute to maintaining and improving community services and amenities.
Average Silver Creek Tax Bill
$3,187
Average Chautauqua County Tax Bill
$2,807
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Creek, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14136 | $1,591 | $2,507 | $3,187 | $4,190 | $5,632 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chautauqua Assessment Review Commission | |
| Website | chautauquacounty.maps.arcgis.com |