Elba, Orleans County, New York Property Taxes
The median property tax rate in Elba, NY is 3.47%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $76,000 in Elba, the typical annual property tax bill is $2,651, just below the national median of $2,690. Property taxes in Elba are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elba's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Elba or another part of Orleans County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elba, Orleans County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.47%
Estimate Property Tax Bill
$2,637
$2,447
Ownwell’s Elba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elba 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 Elba, Orleans County, New York
Property taxes in Elba, 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 Elba is 3.47%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Elba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elba 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 Elba's effective property tax rate to other counties in New York and the national median. For comparison, the 14058 zip code has the highest median property tax rate of 3.47%, while the same zip code also has the lowest median tax rate of 3.47%. Understanding how these cities compare with Elba provides valuable insights into the varying tax landscape across Orleans County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elba Tax Rate
3.47%
Average Orleans County Tax Rate
3.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elba, Orleans County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14058 | 2.68% | 3.35% | 3.47% | 3.64% | 3.78% |
Source: Ownwell
Property Tax Assessment Values Across Elba, Orleans County, New York
In Elba, 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 Orleans 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 Elba, 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 Elba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Elba is $76,000, with the highest median tax bill at $2,651 in zip code 14058.
Property Tax Assessment Values Across Elba, Orleans County, New York
Source: Ownwell
$76,000
$115,400
$154,800
Average Elba Assessed Value
$76,000
Average Orleans County Assessed Value
$108,800
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elba, Orleans County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14058 | $43,200 | $53,125 | $76,000 | $112,250 | $199,850 |
Source: Ownwell
Property Tax Bills Across Elba, Orleans County, New York
In Elba, 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 calculate the annual tax bill. For example, with a median home price of $76,000, various factors such as property location, size, and improvements are considered in the assessment process. Homeowners in Elba can expect tax bills to vary significantly. At the 25th percentile, tax bills are around $1,882, whereas at the 75th percentile, they rise to approximately $3,743. The top 10% of tax bills can reach as high as $5,997. These figures illustrate the range of tax liabilities homeowners might face, influenced by the specific characteristics and assessed values of their properties. Comparatively, the median property tax rate in Elba is higher than the national median of 0.99%. This means homeowners in Elba may experience a relatively higher property tax burden, impacting their overall housing costs and financial planning.
Average Elba Tax Bill
$2,651
Average Orleans County Tax Bill
$3,855
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Elba, Orleans County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14058 | $1,364 | $1,882 | $2,651 | $3,743 | $5,997 |
Source: Ownwell