Honeoye Falls, New York Property Taxes
The median property tax rate in Honeoye Falls, NY is 3.01%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Honeoye Falls at $206,100, the typical annual property tax bill reaches $6,116, far exceeding the national median of $2,690. Property taxes in Honeoye Falls 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 Honeoye 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 Honeoye Falls or another part of Ontario County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Honeoye Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.01%
Estimate Property Tax Bill
$6,204
$6,134
Ownwell’s Honeoye Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honeoye Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honeoye 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 Honeoye Falls, New York
Property taxes in Honeoye Falls, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honeoye Falls is 3.01%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Honeoye Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honeoye 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 Honeoye Falls' effective property tax rate to other areas in New York and the national median. For comparison, Honeoye Falls has the highest median property tax rate of 3.01%, while the lowest median tax rate in the region is also 3.01%. Understanding how these cities compare with Honeoye Falls 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 Honeoye Falls Tax Rate
3.01%
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | 2.81% | 3.01% | 3.01% | 3.01% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across Honeoye Falls, New York
In Honeoye 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 Ontario 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 Honeoye 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 Honeoye Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 14472, with a median tax bill of $6,116.
Average Honeoye Falls Assessed Value
$206,100
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | $135,700 | $164,200 | $206,100 | $300,000 | $384,000 |
Source: Ownwell
Property Tax Bills Across Honeoye Falls, New York
In Honeoye Falls, located in Ontario County, NY, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the home. Homeowners in Honeoye Falls face a median property tax bill of $6,116, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $4,876, while at the 75th percentile, it rises to $8,790, and at the 90th percentile, it reaches $11,552. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for residents. Higher property tax bills can place a financial strain on homeowners but also contribute to well-maintained infrastructure and community services.
Average Honeoye Falls Tax Bill
$6,116
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 Honeoye Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14472 | $3,884 | $4,876 | $6,116 | $8,790 | $11,552 |
Source: Ownwell