Lewis, New York Property Taxes
The median property tax rate in Lewis, NY is 1.96%, significantly higher than the national median of 0.99% but lower than the New York state median of 2.39%. With a median home value of $121,100, the typical annual property tax bill in Lewis amounts to $2,289, which is below the national median of $2,690. Property taxes in Lewis are calculated based on the tax assessed value, often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Lewis's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lewis or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewis, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$2,374
$2,347
Ownwell’s Lewis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewis 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 Lewis, New York
Property taxes in Lewis, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewis is 1.96%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lewis set these rates annually, and they can vary across different neighborhoods. Each year, Lewis 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 Lewis's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 12950 has both the highest and lowest median property tax rate of 1.96%. Understanding how these cities compare with Lewis provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewis Tax Rate
1.96%
Average Essex County Tax Rate
1.92%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewis, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12950 | 1.87% | 1.96% | 1.96% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Lewis, New York
In Lewis, 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 Essex County Assessment Department 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 Lewis, 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. The median home price in Lewis is $121,100, with tax bills ranging from $1,321 at the 25th percentile to $4,186 at the 90th percentile. The highest and lowest median tax bills are both $2,289, found in the zip code 12950. 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 Lewis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lewis Assessed Value
$121,100
Average Essex County Assessed Value
$151,489
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewis, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12950 | $38,150 | $70,775 | $121,100 | $162,550 | $221,050 |
Source: Ownwell
Property Tax Bills Across Lewis, New York
In Lewis, located in Essex County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and represents a percentage of the market value of the property. Homeowners in Lewis can expect a median property tax bill of $2,289, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, a home valued at the median home price of $121,100 would typically see a tax bill ranging from $1,321 at the 25th percentile to $4,186 at the 90th percentile. These taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners should be aware that their property tax bill can fluctuate based on changes in assessed value or adjustments in the local tax rate, impacting their overall financial planning and homeownership costs.
Average Lewis Tax Bill
$2,289
Average Essex County Tax Bill
$2,966
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewis, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12950 | $715 | $1,321 | $2,289 | $3,108 | $4,186 |
Source: Ownwell