Lyons Falls, New York Property Taxes
The median property tax rate in Lyons Falls, NY is 2.53%, 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 Lyons Falls at $83,500, the typical annual property tax bill reaches $2,277, which is below the national median of $2,690. Property taxes in Lyons Falls are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lyons Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lyons Falls 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
Lyons Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$2,113
$1,960
Ownwell’s Lyons Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyons Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyons Falls 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 Lyons Falls, New York
Property taxes in Lyons Falls, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyons Falls is 2.53%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lyons Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyons Falls 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 Lyons Falls' effective property tax rate to other counties in New York and the national median. For comparison, the 13368 zip code has both the highest and lowest median property tax rate of 2.53%. Understanding how these cities compare with Lyons Falls 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 Lyons Falls Tax Rate
2.53%
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 Lyons Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13368 | 2.24% | 2.52% | 2.53% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Lyons Falls, New York
In Lyons Falls, 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 Assessor 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 Lyons Falls, 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 Lyons Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,277, found in zip code 13368.
Average Lyons Falls Assessed Value
$83,500
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 Lyons Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13368 | $34,000 | $57,900 | $83,500 | $117,025 | $167,460 |
Source: Ownwell
Property Tax Bills Across Lyons Falls, New York
In Lyons Falls, located in Lewis County, NY, property tax bills are calculated based on the assessed value of a homeowner's property. This assessed value is determined by the local assessor's office and is intended to reflect the market value of the property. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Various factors influence the assessed value, including the property's size, location, and condition. In Lyons Falls, the median home price is $83,500, which serves as a baseline for many assessments. Homeowners in the 25th percentile can expect to pay around $1,496 in property taxes, while those in the 75th percentile may see bills as high as $3,045. For the top 10% of properties, tax bills can reach up to $4,252. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate future expenses.
Average Lyons Falls Tax Bill
$2,277
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 Lyons Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13368 | $861 | $1,496 | $2,277 | $3,045 | $4,252 |
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 |