Gasport, New York Property Taxes
The median property tax rate in Gasport, NY is 3.04%, 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 Gasport at $142,700, the typical annual property tax bill reaches $4,276, exceeding the national median of $2,690. Property taxes in Gasport 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 Gasport'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 Gasport 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
Gasport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.04%
Estimate Property Tax Bill
$4,338
$4,026
Ownwell’s Gasport Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gasport with ease. Simply input your property's estimated assessed value, and the calculator will use the median tax rate in Gasport to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, allowing you to make informed decisions. For those interested in more granular data, scroll down to explore trends at the neighborhood level. Your property’s assessed value, determined by Niagara County, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Gasport, New York
Property taxes in Gasport, 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 Gasport is 3.04%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Gasport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gasport 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 Gasport's effective property tax rate to other counties in New York and the national median. For comparison, the 14067 zip code has the highest median property tax rate of 3.04%, while the same zip code also has the lowest median tax rate of 3.04%. Understanding how these areas compare with Gasport provides valuable insights into the varying tax landscape across Niagara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gasport Tax Rate
3.04%
Average Niagara County Tax Rate
2.34%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gasport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14067 | 2.36% | 2.63% | 3.04% | 3.20% | 3.58% |
Source: Ownwell
Property Tax Assessment Values Across Gasport, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gasport, New York. The market value represents 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 Niagara 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 Gasport, 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. The median home price in Gasport is $142,700, with tax bills ranging from $3,321 at the 25th percentile to $7,038 at the 90th percentile. The zip code 14067 has the highest and lowest median tax bill of $4,276. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gasport Assessed Value
$142,700
Average Niagara County Assessed Value
$156,739
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gasport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14067 | $84,140 | $111,000 | $142,700 | $190,500 | $243,080 |
Source: Ownwell
Property Tax Bills Across Gasport, New York
In Gasport, located in Niagara County, NY, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Gasport face a median property tax rate that is higher than the national median of 0.99%. For example, the median home price in Gasport is $142,700, and the property tax bill can range significantly. At the 25th percentile, homeowners might pay around $3,321 annually, while those at the 75th percentile could see bills as high as $5,514. For those in the 90th percentile, the tax bill can reach up to $7,038. These variations are influenced by factors such as property location, home improvements, and changes in the housing market. High property taxes can impact homeowners by increasing the cost of homeownership and potentially influencing decisions on buying or selling property in the area.
Average Gasport Tax Bill
$4,276
Average Niagara County Tax Bill
$3,626
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Gasport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14067 | $2,372 | $3,321 | $4,276 | $5,514 | $7,038 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Niagara Assessment Review Commission | |
| Website | niagaracounty.prosgar.com |