Erin, New York Property Taxes
The median property tax rate in Erin, NY is 2.91%, 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 Erin at $96,500, the typical annual property tax bill reaches $2,813, exceeding the national median of $2,690. Property taxes in Erin 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 Erin'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 Erin 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
Erin, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$2,808
$2,776
Ownwell’s Erin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erin 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 Erin, New York
Property taxes in Erin, 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 Erin is 2.91%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Erin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erin 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 Erin's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14838 has both the highest and lowest median property tax rate of 2.91%. Understanding how these cities compare with Erin 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 Erin Tax Rate
2.91%
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 Erin, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14838 | 2.82% | 2.88% | 2.91% | 2.91% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Erin, New York
In Erin, 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 Schuyler 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 Erin, 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. The median home price in Erin is $96,500, with tax bills ranging from $2,101 at the 25th percentile to $4,439 at the 90th percentile. The zip code with the highest and lowest median tax bill is 14838, both at $2,813. 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 Erin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erin Assessed Value
$96,500
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 Erin, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14838 | $64,000 | $72,100 | $96,500 | $123,850 | $152,300 |
Source: Ownwell
Property Tax Bills Across Erin, New York
In Erin, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects a percentage of the property's market value. Homeowners in Erin face property tax bills that vary significantly, with the 25th percentile tax bill at $2,101 and the 75th percentile reaching $3,516. The highest median tax bill in the region is $2,813, which is notably higher than the national median property tax rate of 0.99%. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. For homeowners, this means that their annual property tax bill can have a considerable impact on their overall housing costs. Understanding how these taxes are calculated and what factors are considered can help homeowners better manage their finances and anticipate future tax obligations.
Average Erin Tax Bill
$2,813
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 Erin, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14838 | $1,677 | $2,101 | $2,813 | $3,516 | $4,439 |
Source: Ownwell