Lowville, New York Property Taxes
The median property tax rate in Lowville, NY is 2.24%, 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 Lowville at $117,200, the typical annual property tax bill reaches $2,597, which is just below the national median of $2,690. Property taxes in Lowville 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 Lowville'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 Lowville 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
Lowville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$2,625
$2,436
Ownwell’s Lowville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowville 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 Lowville, New York
Property taxes in Lowville, 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 Lowville is 2.24%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lowville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowville 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 Lowville's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13367 has both the highest and lowest median property tax rate of 2.24%. Understanding how these cities compare with Lowville provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lowville Tax Rate
2.24%
Average Lewis County Tax Rate
2.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13367 | 1.84% | 1.95% | 2.24% | 2.72% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Lowville, New York
In Lowville, 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 Lewis 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. 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 Lowville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lowville are both $2,597 in zip code 13367, reflecting the uniformity in tax assessments.
Average Lowville Assessed Value
$117,200
Average Lewis County Assessed Value
$102,300
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lowville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13367 | $36,360 | $68,950 | $117,200 | $161,400 | $233,540 |
Source: Ownwell
Property Tax Bills Across Lowville, New York
Property tax bills in Lowville, located in Lewis County, NY, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, determined by the local assessor. Factors such as property size, location, and improvements can influence this assessment. For instance, the median home price in Lowville is $117,200. Homeowners in Lowville can expect to pay varying amounts in property taxes. The 25th percentile tax bill is $1,486, while those in the 75th percentile pay around $3,772. At the higher end, the 90th percentile tax bill reaches $5,108. These figures show a range of property tax burdens, reflecting the diverse property values within the area. Compared to the national median property tax rate of 0.99%, Lowville's property tax rates can significantly impact homeowners, with some paying much higher amounts. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Lowville Tax Bill
$2,597
Average Lewis County Tax Bill
$2,429
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13367 | $759 | $1,486 | $2,597 | $3,772 | $5,108 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Lewis Assessment Review Commission | |
| Website | lewiscountyny.gov |