Town Of Tonawanda, New York Property Taxes
The median property tax rate in the Town of Tonawanda, NY is 3.30%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in the Town of Tonawanda at $167,200, the typical annual property tax bill reaches $5,445, far exceeding the national median of $2,690. Property taxes in the Town of Tonawanda are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding the Town of Tonawanda'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 the Town of Tonawanda 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
Town Of Tonawanda, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.3%
Estimate Property Tax Bill
$5,518
$5,120
Ownwell’s Town of Tonawanda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Town of Tonawanda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Town of Tonawanda 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 Town Of Tonawanda, New York
Property taxes in the Town of Tonawanda, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in the Town of Tonawanda is 3.30%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within the Town of Tonawanda set these rates annually, and they can vary significantly across different neighborhoods. Each year, the Town of Tonawanda 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 the Town of Tonawanda's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14223 has both the highest and the lowest median property tax rate of 3.30%. Understanding how these areas compare with the Town of Tonawanda 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 Town Of Tonawanda Tax Rate
3.30%
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 Town Of Tonawanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14223 | 3.07% | 3.24% | 3.30% | 3.35% | 3.36% |
Source: Ownwell
Property Tax Assessment Values Across Town Of Tonawanda, New York
In the Town of Tonawanda, NY, 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 the Town of Tonawanda, 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 the Town of Tonawanda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14223 has the highest and lowest median tax bill, both at $5,445.
Property Tax Assessment Values Across Town Of Tonawanda, New York
Source: Ownwell
$38,500
$243,600
$448,700
Average Town Of Tonawanda Assessed Value
$167,200
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 Town Of Tonawanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14223 | $146,600 | $155,500 | $167,200 | $181,000 | $195,200 |
Source: Ownwell
Property Tax Bills Across Town Of Tonawanda, New York
In the Town of Tonawanda, Erie County, NY, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in this area is $167,200. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in the Town of Tonawanda typically see tax bills ranging from $5,083 at the 25th percentile to $6,396 at the 90th percentile, with a median tax bill of $5,445. This is significantly higher than the national median property tax rate of 0.99%. The higher property tax rates in this region can impact homeowners by increasing their annual expenses, which may affect affordability and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Town Of Tonawanda Tax Bill
$5,445
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 Town Of Tonawanda, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14223 | $4,680 | $5,083 | $5,445 | $5,892 | $6,396 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Erie Assessment Review Commission | |
| Website | erieny.maps.arcgis.com |