Earlville, New York Property Taxes
The median property tax rate in Earlville, NY is 2.92%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $98,510 in Earlville, the typical annual property tax bill reaches $3,019, surpassing the national median of $2,690. Property taxes in Earlville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Earlville'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 Earlville 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
Earlville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.92%
Estimate Property Tax Bill
$2,876
$2,669
Ownwell’s Earlville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Earlville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Earlville 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 Earlville, New York
Property taxes in Earlville, 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 Earlville is 2.92%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Earlville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Earlville 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 Earlville's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13332 has the highest median property tax rate of 2.92%, while the same zip code also represents the lowest median tax rate of 2.92%. Understanding how these areas compare with Earlville provides valuable insights into the varying tax landscape across Chenango County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Earlville Tax Rate
2.92%
Average Chenango County Tax Rate
3.08%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Earlville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13332 | 2.68% | 2.68% | 2.92% | 3.29% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Earlville, New York
In Earlville, 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 Chenango 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 Earlville, 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 Earlville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13332 has the highest median tax bill at $3,019, which is significantly higher than the national median property tax rate of 0.99%.
Average Earlville Assessed Value
$98,510
Average Chenango County Assessed Value
$92,500
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Earlville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13332 | $56,533 | $75,000 | $98,510 | $132,958 | $197,750 |
Source: Ownwell
Property Tax Bills Across Earlville, New York
In Earlville, located in Chenango County, NY, property tax bills are calculated based on the assessed value of a property. The local tax assessor determines this assessed value, which is a percentage of the property's market value. Various factors influence the assessed value, including the property's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Earlville, the median home price is $98,510. The property tax bills vary significantly, with the 25th percentile at $2,196 and the 75th percentile reaching $3,942. At the higher end, the 90th percentile tax bill is $5,537. Comparing this to the national median property tax rate of 0.99%, homeowners in Earlville might find their tax burden to be relatively high. These tax bills can significantly impact homeowners' finances, influencing decisions on property investments and overall affordability.
Average Earlville Tax Bill
$3,019
Average Chenango County Tax Bill
$2,965
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Earlville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13332 | $1,539 | $2,196 | $3,019 | $3,942 | $5,537 |
Source: Ownwell