Port Gibson, New York Property Taxes
The median property tax rate in Port Gibson, NY is 4.46%, 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 Port Gibson at $105,200, the typical annual property tax bill reaches $4,589, far exceeding the national median of $2,690. Property taxes in Port Gibson 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 Port Gibson'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 Port Gibson 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
Port Gibson, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.46%
Estimate Property Tax Bill
$4,692
$4,354
Ownwell’s Port Gibson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Gibson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Gibson 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 Ontario County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Port Gibson, New York
Property taxes in Port Gibson, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Gibson is 4.46%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Port Gibson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Gibson 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 Port Gibson's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14537 has both the highest and lowest median property tax rate of 4.46%. Understanding how these cities compare with Port Gibson 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 Port Gibson Tax Rate
4.46%
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 Port Gibson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14537 | 4.27% | 4.46% | 4.46% | 4.46% | 4.46% |
Source: Ownwell
Property Tax Assessment Values Across Port Gibson, New York
In Port Gibson, 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 Port Gibson, 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 Port Gibson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Port Gibson is $4,589 in zip code 14537, which is significantly higher than the national median property tax rate of 0.99%.
Average Port Gibson Assessed Value
$105,200
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 Port Gibson, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14537 | $33,800 | $78,800 | $105,200 | $118,200 | $126,500 |
Source: Ownwell
Property Tax Bills Across Port Gibson, New York
In Port Gibson, Ontario County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $105,200, homeowners in this area see a range of tax bills. The 25th percentile tax bill stands at $3,317, while the 75th percentile reaches $5,181, and the 90th percentile peaks at $5,523. These figures highlight the variability homeowners can experience depending on the assessed value of their property. Compared to the national median property tax rate of 0.99%, Port Gibson's property taxes can be quite significant, impacting homeowners' annual expenses considerably. Factors such as property improvements, neighborhood developments, and changes in local tax rates can further influence the final tax bill. Understanding these elements can help homeowners anticipate and manage their property tax obligations effectively.
Average Port Gibson Tax Bill
$4,589
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 Port Gibson, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14537 | $1,395 | $3,317 | $4,589 | $5,181 | $5,523 |
Source: Ownwell