Buffalo, New York Property Taxes
The median property tax rate in Buffalo, NY is 0.41%, significantly lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Buffalo at $165,000, the typical annual property tax bill amounts to $1,143, which is below the national median of $2,690. Property taxes in Buffalo are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence exemption. Navigating Buffalo's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Buffalo or another part of Erie County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Buffalo, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$676
$628
Ownwell’s Buffalo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buffalo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buffalo 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 Buffalo, New York
Property taxes in Buffalo, 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 Buffalo is 2.67%, significantly higher than both the New York state median of 1.38% and the U.S. national median of 0.99%. Local government entities within Buffalo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buffalo 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 Buffalo's effective property tax rate to other counties in New York and the national median. For comparison, the 14223 zip code has the highest median property tax rate of 3.30%, while the 14227 zip code has the lowest median tax rate of 0.41%. Understanding how these areas compare with Buffalo provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buffalo Tax Rate
0.41%
Average Erie County Tax Rate
1.96%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buffalo, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14201 | 0.39% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14202 | 0.25% | 0.32% | 0.41% | 0.41% | 0.41% |
| 14203 | 0.41% | 0.41% | 0.41% | 0.50% | 2.69% |
| 14204 | 0.20% | 0.40% | 0.41% | 0.41% | 0.41% |
| 14206 | 0.34% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14207 | 0.40% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14208 | 0.34% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14209 | 0.40% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14210 | 0.34% | 0.41% | 0.41% | 0.41% | 2.59% |
| 14211 | 0.40% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14212 | 0.40% | 0.40% | 0.41% | 0.41% | 0.41% |
| 14213 | 0.40% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14214 | 0.39% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14215 | 0.39% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14216 | 0.38% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14217 | 3.09% | 3.27% | 3.29% | 3.30% | 3.31% |
| 14218 | N/A | N/A | N/A | N/A | N/A |
| 14219 | N/A | N/A | N/A | N/A | N/A |
| 14220 | 0.35% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14221 | 2.13% | 2.23% | 2.29% | 2.35% | 2.48% |
| 14222 | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% |
| 14223 | 3.10% | 3.26% | 3.30% | 3.32% | 3.35% |
| 14224 | 2.50% | 2.74% | 2.82% | 2.89% | 2.94% |
| 14225 | 0.41% | 0.41% | 2.39% | 2.52% | 2.60% |
| 14226 | 2.46% | 2.54% | 2.61% | 2.73% | 2.86% |
| 14227 | 0.37% | 0.40% | 0.41% | 1.82% | 2.32% |
| 14228 | 2.25% | 2.39% | 2.68% | 2.79% | 2.93% |
Source: Ownwell
Property Tax Assessment Values Across Buffalo, New York
In Buffalo, 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 Erie 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. In Buffalo, 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 Buffalo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill is $6,443 in zip code 14221, while the lowest is $114 in zip code 14212.
Average Buffalo Assessed Value
$165,000
Average Erie County Assessed Value
$186,335
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buffalo, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14201 | $94,900 | $141,000 | $238,500 | $314,100 | $384,600 |
| 14202 | $224,080 | $375,000 | $448,700 | $576,900 | $780,560 |
| 14203 | $65,900 | $109,000 | $130,800 | $165,550 | $195,840 |
| 14204 | $37,200 | $51,300 | $71,800 | $165,400 | $173,100 |
| 14206 | $42,300 | $67,600 | $91,000 | $135,000 | $156,000 |
| 14207 | $61,500 | $78,200 | $93,600 | $106,400 | $120,500 |
| 14208 | $38,500 | $51,300 | $66,700 | $85,900 | $160,300 |
| 14209 | $9,600 | $72,125 | $140,900 | $357,700 | $521,800 |
| 14210 | $42,300 | $58,375 | $94,900 | $114,100 | $134,929 |
| 14211 | $27,420 | $37,200 | $44,900 | $60,300 | $116,000 |
| 14212 | $19,200 | $25,600 | $38,500 | $129,000 | $147,000 |
| 14213 | $66,700 | $103,800 | $151,300 | $209,000 | $278,200 |
| 14214 | $55,100 | $102,600 | $173,100 | $297,400 | $401,300 |
| 14215 | $44,900 | $53,800 | $65,400 | $85,900 | $151,000 |
| 14216 | $159,000 | $193,600 | $252,600 | $301,300 | $360,300 |
| 14217 | $140,300 | $151,700 | $166,200 | $183,400 | $205,200 |
| 14218 | N/A | N/A | N/A | N/A | N/A |
| 14219 | N/A | N/A | N/A | N/A | N/A |
| 14220 | $88,500 | $111,500 | $146,200 | $173,100 | $197,400 |
| 14221 | $123,550 | $215,767 | $274,518 | $337,800 | $466,200 |
| 14222 | $248,820 | $321,800 | $406,400 | $519,200 | $666,700 |
| 14223 | $146,360 | $162,800 | $181,000 | $206,200 | $241,400 |
| 14224 | $126,000 | $161,000 | $195,000 | $242,700 | $311,380 |
| 14225 | $118,000 | $146,000 | $165,000 | $182,000 | $204,000 |
| 14226 | $127,000 | $160,800 | $202,700 | $267,600 | $384,580 |
| 14227 | $152,000 | $173,000 | $188,000 | $211,000 | $245,000 |
| 14228 | $82,400 | $176,350 | $229,700 | $294,600 | $445,900 |
Source: Ownwell
Property Tax Bills Across Buffalo, New York
In Buffalo, Erie County, NY, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessment process determines the taxable value, which is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as location, property size, and improvements can influence the assessed value. For instance, in Buffalo, the median home price is $165,000. However, tax bills can vary significantly across different neighborhoods. The 25th percentile tax bill stands at $322, while the 75th percentile tax bill reaches $5,493. At the 90th percentile, homeowners might see tax bills as high as $7,273. The highest median tax bill in Erie County is $6,443 in the 14221 zip code, whereas the lowest is $114 in the 14212 zip code. These variations can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. With a national median property tax rate of 0.99%, understanding these local nuances is crucial for Buffalo residents.
Average Buffalo Tax Bill
$1,143
Average Erie County Tax Bill
$2,315
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Buffalo, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14201 | $348 | $535 | $935 | $1,257 | $1,554 |
| 14202 | $835 | $1,423 | $1,750 | $2,117 | $2,749 |
| 14203 | $154 | $291 | $676 | $4,471 | $38,540 |
| 14204 | $114 | $187 | $265 | $577 | $691 |
| 14206 | $130 | $213 | $301 | $395 | $535 |
| 14207 | $213 | $296 | $369 | $431 | $509 |
| 14208 | $135 | $187 | $265 | $338 | $646 |
| 14209 | $39 | $265 | $561 | $1,420 | $2,105 |
| 14210 | $156 | $218 | $374 | $483 | $2,245 |
| 14211 | $94 | $130 | $172 | $213 | $279 |
| 14212 | $62 | $88 | $114 | $151 | $296 |
| 14213 | $255 | $395 | $598 | $832 | $1,117 |
| 14214 | $213 | $390 | $681 | $1,185 | $1,651 |
| 14215 | $156 | $203 | $244 | $307 | $364 |
| 14216 | $572 | $748 | $998 | $1,216 | $1,466 |
| 14217 | $4,515 | $4,945 | $5,527 | $6,180 | $8,406 |
| 14218 | N/A | N/A | N/A | N/A | N/A |
| 14219 | N/A | N/A | N/A | N/A | N/A |
| 14220 | $322 | $421 | $580 | $733 | $987 |
| 14221 | $2,404 | $4,953 | $6,443 | $7,737 | $10,080 |
| 14222 | $959 | $1,294 | $1,637 | $2,105 | $2,705 |
| 14223 | $4,631 | $5,262 | $5,895 | $6,727 | $7,861 |
| 14224 | $3,453 | $4,403 | $5,396 | $6,687 | $8,542 |
| 14225 | $184 | $231 | $3,869 | $4,715 | $5,566 |
| 14226 | $3,438 | $4,291 | $5,343 | $6,906 | $9,664 |
| 14227 | $184 | $264 | $601 | $3,794 | $6,364 |
| 14228 | $2,212 | $4,325 | $6,187 | $7,509 | $10,486 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Erie Assessment Review Commission | |
| Website | erieny.maps.arcgis.com |