Piercefield, New York Property Taxes
The median property tax rate in Piercefield, NY is 2.06%, 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 Piercefield at $520,494, the typical annual property tax bill reaches $10,699, far exceeding the national median of $2,690. Property taxes in Piercefield are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Piercefield'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 Piercefield 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
Piercefield, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$10,722
$10,601
Ownwell’s Piercefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piercefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piercefield 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 Piercefield, New York
Property taxes in Piercefield, 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 Piercefield is 2.06%, significantly higher than the U.S. national median of 0.99%. Local government entities within Piercefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piercefield 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 Piercefield's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 12973 has the highest median property tax rate of 2.06%, while the same zip code also has the lowest median tax rate of 2.06%. Understanding how these areas compare with Piercefield provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piercefield Tax Rate
2.06%
Average Franklin County Tax Rate
2.45%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piercefield, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12973 | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Piercefield, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Piercefield, NY. 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 Franklin 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 Piercefield, 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 Piercefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 12973 has the highest and lowest median tax bills in the area, both standing at $10,699.
Average Piercefield Assessed Value
$520,494
Average Franklin County Assessed Value
$100,730
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piercefield, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12973 | $520,494 | $520,494 | $520,494 | $520,494 | $520,494 |
Source: Ownwell
Property Tax Bills Across Piercefield, New York
In Piercefield, located in Franklin County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Piercefield face a median property tax bill of $10,699, which is significantly higher than the national median property tax rate of 0.99%. This high tax bill reflects the substantial assessed values of properties in the area. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding how these factors impact their tax obligations is crucial. High property taxes can affect affordability and overall financial planning. Comparing these rates to national figures highlights the importance of being aware of local property tax dynamics and seeking ways to manage and potentially reduce tax liabilities.
Average Piercefield Tax Bill
$10,699
Average Franklin County Tax Bill
$2,460
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Piercefield, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12973 | $10,699 | $10,699 | $10,699 | $10,699 | $10,699 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Franklin Assessment Review Commission | |
| Website | maps.dancgis.org |