Bradford, New York Property Taxes
The median property tax rate in Bradford, NY is 2.33%, 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 Bradford at $174,000, the typical annual property tax bill reaches $3,816, exceeding the national median of $2,690. Property taxes in Bradford 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 Bradford'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 Bradford 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
Bradford, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$4,054
$3,762
Ownwell’s Bradford Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bradford to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property's assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Bradford, New York
Property taxes in Bradford, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradford is 2.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bradford set these rates annually, and they can vary across different neighborhoods. Each year, Bradford 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 Bradford's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 14815 has the highest median property tax rate of 2.33%, while the lowest median tax rate is also 2.33% in the same zip code. Understanding how these cities compare with Bradford provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradford Tax Rate
2.33%
Average Schuyler County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14815 | 1.86% | 1.99% | 2.33% | 2.58% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Bradford, New York
In Bradford, NY, 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 Bradford, 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 Bradford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $3816, found in zip code 14815.
Average Bradford Assessed Value
$174,000
Average Schuyler County Assessed Value
$150,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradford, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14815 | $47,000 | $107,000 | $174,000 | $235,000 | $294,100 |
Source: Ownwell
Property Tax Bills Across Bradford, New York
In Bradford, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Homeowners in Bradford pay a median property tax rate of 0.99%, which aligns with the national median. For a home with a median price of $174,000, this translates to a typical tax bill. Several factors influence the final tax bill, including property location, improvements, and market conditions. For instance, homes in the 25th percentile have tax bills around $2,564, while those in the 75th percentile face bills closer to $5,298. The 90th percentile sees tax bills as high as $6,779, indicating significant variance based on property characteristics and location within the city. This tax burden impacts homeowners by affecting their monthly mortgage payments and overall housing affordability. Understanding these factors can help homeowners plan better and potentially seek appeals or exemptions to manage their expenses more effectively.
Average Bradford Tax Bill
$3,816
Average Schuyler County Tax Bill
$3,536
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradford, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14815 | $1,163 | $2,564 | $3,816 | $5,298 | $6,779 |
Source: Ownwell