East Bethany, New York Property Taxes
The median property tax rate in East Bethany, NY is 2.96%, 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 East Bethany at $141,848, the typical annual property tax bill reaches $4,112, exceeding the national median of $2,690. Property taxes in East Bethany are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding East Bethany'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 East Bethany 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
East Bethany, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.96%
Estimate Property Tax Bill
$4,199
$3,896
Ownwell’s East Bethany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Bethany 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 Genesee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across East Bethany, New York
Property taxes in East Bethany, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Bethany is 2.96%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Bethany 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 East Bethany's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14054 has both the highest and lowest median property tax rate of 2.96%. Understanding how these cities compare with East Bethany provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Bethany Tax Rate
2.96%
Average Genesee County Tax Rate
3.18%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | 2.62% | 2.96% | 2.96% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across East Bethany, New York
In East Bethany, 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 Genesee 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 East Bethany, 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 East Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in East Bethany are both $4,112, found in the 14054 zip code.
Average East Bethany Assessed Value
$141,848
Average Genesee County Assessed Value
$137,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | $66,957 | $102,853 | $141,848 | $195,734 | $274,700 |
Source: Ownwell
Property Tax Bills Across East Bethany, New York
In East Bethany, located in Genesee 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 and reflects a percentage of the property's market value. Various factors, such as property size, location, and improvements, contribute to this assessment. Homeowners in East Bethany face property tax bills that can vary significantly. For example, the tax bill at the 25th percentile is around $2,927, while at the 75th percentile, it is approximately $5,631. The 90th percentile tax bill can reach up to $7,752. These tax bills are influenced by the local tax rate and the assessed value of properties within the area. With a median home price of $141,848, homeowners in East Bethany may find their property tax rates higher than the national median property tax rate of 0.99%. This can impact household budgets, making it crucial for homeowners to understand how their property taxes are determined and what they can do to manage these expenses effectively.
Average East Bethany Tax Bill
$4,112
Average Genesee County Tax Bill
$4,359
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | $1,864 | $2,927 | $4,112 | $5,631 | $7,752 |
Source: Ownwell