Breesport, New York Property Taxes
The median property tax rate in Breesport, NY is 2.50%, 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 Breesport, the typical annual property tax bill reaches $3,498, exceeding the national median of $2,690. Property taxes in Breesport 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 Breesport'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 Breesport 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
Breesport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.5%
Estimate Property Tax Bill
$3,543
$3,287
Ownwell’s Breesport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Breesport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Breesport 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 Breesport, New York
Property taxes in Breesport, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breesport is 2.50%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Breesport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breesport 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 Breesport's effective property tax rate to other counties in New York and the national median. For comparison, the 14816 zip code has the highest median property tax rate of 2.50%, while the same zip code also has the lowest median tax rate of 2.50%. Understanding how these cities compare with Breesport provides valuable insights into the varying tax landscape across Chemung County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breesport Tax Rate
2.50%
Average Chemung County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Breesport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14816 | 2.30% | 2.48% | 2.50% | 2.50% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Breesport, New York
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Breesport, New York. The market value represents 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 Chemung County Assessment Office 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. Assessment notices in Breesport 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. For instance, the highest median tax bill in Breesport is $3,498 in the 14816 zip code, which is significantly above the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Breesport Assessed Value
$141,700
Average Chemung County Assessed Value
$104,684
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Breesport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14816 | $70,800 | $99,350 | $141,700 | $182,550 | $257,520 |
Source: Ownwell
Property Tax Bills Across Breesport, New York
In Breesport, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the tax rate set by Chemung County to determine the annual property tax bill. Homeowners in Breesport experience varying tax bills depending on the value of their property. For instance, the median home price in Breesport is $141,700. The property tax bill for homes at the 25th percentile is approximately $2,385, while those at the 75th percentile see bills around $4,572. At the 90th percentile, homeowners can expect to pay about $6,182. The highest and lowest median tax bill in the area both stand at $3,498, reflecting the uniformity in tax rates within the zip code 14816. Compared to the national median property tax rate of 0.99%, Breesport's rates can significantly impact homeowners, influencing their financial planning and long-term investment decisions.
Average Breesport Tax Bill
$3,498
Average Chemung County Tax Bill
$3,435
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Breesport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14816 | $1,650 | $2,385 | $3,498 | $4,572 | $6,182 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chemung Assessment Review Commission | |
| Website | www.arcgis.com |