Lyons, New York Property Taxes
The median property tax rate in Lyons, NY is 4.55%, 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 Lyons, the typical annual property tax bill reaches $5,435, far exceeding the national median of $2,690. Property taxes in Lyons are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lyons'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 Lyons 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, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.55%
Estimate Property Tax Bill
$5,883
$5,817
Ownwell’s Lyons Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lyons with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lyons to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Lyons, New York
Property taxes in Lyons, 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 Lyons is 4.55%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Lyons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyons 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' effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14489 has the highest median property tax rate of 4.55%, while the same zip code also has the lowest median tax rate of 4.55%. Understanding how these figures compare with Lyons 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 Lyons Tax Rate
4.55%
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 Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | 2.90% | 4.43% | 4.55% | 4.55% | 4.55% |
Source: Ownwell
Property Tax Assessment Values Across Lyons, New York
In Lyons, 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 Lyons, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lyons are both $5,435, found in the 14489 zip code.
Average Lyons Assessed Value
$129,294
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 Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | $66,848 | $97,554 | $129,294 | $172,826 | $265,087 |
Source: Ownwell
Property Tax Bills Across Lyons, New York
In Lyons, NY, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in the area is $129,294, and the property tax rate for Ontario County significantly impacts the final tax bill. Factors such as property size, location, and improvements are considered in the assessment process. Homeowners in Lyons can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is around $3,949, while the 75th percentile tax bill is approximately $7,702. At the higher end, the 90th percentile tax bill can reach up to $12,050. Notably, the median tax bill in the 14489 zip code stands at $5,435, which is higher than the national median property tax rate of 0.99%. These property tax bills significantly influence homeowners' annual expenses, making it essential for residents to understand how their taxes are calculated and what factors may lead to changes in their tax obligations.
Average Lyons Tax Bill
$5,435
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 Lyons, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14489 | $2,856 | $3,949 | $5,435 | $7,702 | $12,050 |
Source: Ownwell