Canandaigua, New York Property Taxes
The median property tax rate in Canandaigua, NY is 2.37%, 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 Canandaigua, the typical annual property tax bill reaches $4,602, exceeding the national median of $2,690. Property taxes in Canandaigua 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 Canandaigua'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 Canandaigua 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
Canandaigua, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$4,595
$4,264
Ownwell’s Canandaigua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canandaigua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canandaigua 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 Canandaigua, New York
Property taxes in Canandaigua, 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 Canandaigua is 2.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Canandaigua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canandaigua 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 Canandaigua's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14424 has both the highest and lowest median property tax rate of 2.37%. Understanding how these cities compare with Canandaigua provides valuable insights into the varying tax landscape across Ontario County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canandaigua Tax Rate
2.37%
Average Ontario County Tax Rate
2.60%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canandaigua, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14424 | 1.96% | 2.11% | 2.37% | 2.60% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Canandaigua, New York
In Canandaigua, 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 local 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 Canandaigua, 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. The median home price in Canandaigua is $193,878, with tax bills ranging from $2,980 at the 25th percentile to $11,064 at the 90th percentile. The zip code 14424 has the highest and lowest median tax bill at $4,602. 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 Canandaigua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Canandaigua Assessed Value
$193,878
Average Ontario County Assessed Value
$176,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canandaigua, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14424 | $90,816 | $133,300 | $193,878 | $304,651 | $458,012 |
Source: Ownwell
Property Tax Bills Across Canandaigua, New York
In Canandaigua, Ontario County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the property's market value as determined by the local assessor's office. Factors such as property size, location, and improvements can influence this assessed value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Canandaigua, the median home price is $193,878. Property tax bills can vary significantly, with the 25th percentile tax bill at $2,980, the 75th percentile at $7,496, and the 90th percentile reaching $11,064. The highest median tax bill in the area is $4,602, which is notably higher than the national median property tax rate of 0.99%. These property taxes can significantly impact homeowners' finances, influencing their cost of living and potentially affecting property values over time. Understanding how these taxes are calculated helps homeowners plan and manage their expenses more effectively.
Average Canandaigua Tax Bill
$4,602
Average Ontario County Tax Bill
$4,698
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Canandaigua, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14424 | $1,840 | $2,980 | $4,602 | $7,496 | $11,064 |
Source: Ownwell