Victor, Ontario County, New York Property Taxes
The median property tax rate in Victor, NY is 2.68%, 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 Victor at $309,000, the typical annual property tax bill reaches $8,106, exceeding the national median of $2,690. Property taxes in Victor 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 Victor'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 Victor 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
Victor, Ontario County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$8,281
$7,685
Ownwell’s VICTOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in VICTOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VICTOR 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 Victor, Ontario County, New York
Property taxes in Victor, 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 Victor is 2.68%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Victor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Victor 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 Victor's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14564 has both the highest and the lowest median property tax rate of 2.68%. Understanding how these cities compare with Victor 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 Victor Tax Rate
2.68%
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 Victor, Ontario County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14564 | 2.51% | 2.55% | 2.68% | 2.71% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Victor, Ontario County, New York
In Victor, 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 Assessment Office 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 Victor, 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 Victor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Victor are both $8,106 in the 14564 zip code.
Property Tax Assessment Values Across Victor, Ontario County, New York
Source: Ownwell
$105,200
$332,950
$560,700
Average Victor Assessed Value
$309,000
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 Victor, Ontario County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14564 | $127,000 | $190,544 | $309,000 | $414,825 | $525,800 |
Source: Ownwell
Property Tax Bills Across Victor, Ontario County, New York
In Victor, Ontario County, NY, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Victor stands at $309,000, which serves as a crucial factor in determining the tax bill. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For homeowners in Victor, the tax bill can vary significantly depending on the value of their property. For instance, the tax bill at the 25th percentile is $4,963, while at the 75th percentile, it rises to $10,879. At the 90th percentile, homeowners can expect a tax bill of $13,878. This variation illustrates the impact of property value on tax liabilities. Compared to the national median property tax rate of 0.99%, Victor's property tax bills are relatively high, reflecting the local economic conditions and funding needs for public services. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Victor Tax Bill
$8,106
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 Victor, Ontario County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14564 | $3,232 | $4,963 | $8,106 | $10,879 | $13,878 |
Source: Ownwell