Seneca County, New York Property Taxes
The median property tax rate in Seneca County is 2.53%, which is significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $129,610 in Seneca County, the typical annual property tax bill reaches $3,564, exceeding the national median of $2,690. Property taxes in Seneca County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Seneca County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Waterloo or another part of Seneca County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seneca County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$3,279
$3,043
Ownwell’s Seneca County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Seneca County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Seneca County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Seneca County, New York
Property taxes in Seneca County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Seneca County is 2.53%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Seneca County set these rates annually, and they can vary significantly between different areas within the county. Each year, Seneca County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Seneca Falls has one of the higher property tax rates in the region at 3.43%, while the city of Interlaken boasts one of the lowest at 1.96%. Analyzing how Seneca County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Seneca County Tax Rate
2.53%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seneca County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clyde | 2.13% | 2.49% | 2.61% | 2.64% | 2.68% |
| Fayette | 2.02% | 2.14% | 2.49% | 2.53% | 2.62% |
| Geneva | 1.95% | 2.01% | 2.08% | 2.35% | 2.57% |
| Hector | 1.92% | 2.07% | 2.11% | 2.16% | 2.24% |
| Interlaken | 1.75% | 1.88% | 1.96% | 2.27% | 2.81% |
| Lodi | 1.81% | 2.05% | 2.09% | 2.15% | 2.22% |
| Lyons | 2.78% | 2.78% | 2.79% | 2.80% | 2.83% |
| Ovid | 1.73% | 1.93% | 2.02% | 2.15% | 2.32% |
| Phelps | 2.27% | 2.59% | 2.62% | 2.94% | 3.03% |
| Romulus | 1.88% | 1.97% | 2.06% | 2.14% | 2.25% |
| Savannah | N/A | N/A | N/A | N/A | N/A |
| Seneca Falls | 2.40% | 2.88% | 3.43% | 3.49% | 3.59% |
| Trumansburg | 1.32% | 1.94% | 2.22% | 2.39% | 2.40% |
| Waterloo | 2.32% | 2.43% | 2.77% | 3.75% | 3.77% |
Source: Ownwell
Property Tax Assessment Values Across Seneca County, New York
In Seneca County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Seneca County Appraisal District. The assessed value, however, 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. Assessment notices in Seneca County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Trumansburg has the highest median tax bill at $4,680, while Fayette has the lowest at $2,355. Being aware of these valuation processes in Seneca County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Seneca County Assessed Value
$129,610
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seneca County, New York
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clyde | $40,360 | $59,252 | $100,000 | $159,794 | $260,464 |
| Fayette | $71,244 | $81,334 | $95,667 | $183,558 | $216,911 |
| Geneva | $74,532 | $106,112 | $165,323 | $307,977 | $480,894 |
| Hector | $51,448 | $93,362 | $137,069 | $238,276 | $312,828 |
| Interlaken | $66,988 | $103,466 | $157,358 | $269,706 | $459,177 |
| Lodi | $56,241 | $100,172 | $183,621 | $311,207 | $429,000 |
| Lyons | $46,186 | $85,310 | $139,278 | $160,825 | $180,464 |
| Ovid | $61,152 | $101,724 | $165,962 | $324,138 | $500,465 |
| Phelps | $43,010 | $75,438 | $121,650 | $189,433 | $229,381 |
| Romulus | $84,052 | $138,588 | $225,028 | $402,124 | $535,470 |
| Savannah | N/A | N/A | N/A | N/A | N/A |
| Seneca Falls | $56,461 | $87,792 | $121,558 | $182,338 | $270,130 |
| Trumansburg | $103,294 | $158,236 | $235,294 | $317,647 | $443,529 |
| Waterloo | $58,763 | $79,972 | $103,724 | $145,570 | $200,832 |
Source: Ownwell
Property Tax Bills Across Seneca County, New York
Property tax bills in Seneca County, NY are determined by a combination of the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated to reflect changes in the real estate market. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For example, properties in Trumansburg have the highest median tax bill at $4,680, while those in Fayette have the lowest at $2,355. Homeowners in Seneca County face a range of tax bills, from the 25th percentile at $2,462 to the 90th percentile at $8,129. Compared to the national median property tax rate of 0.99%, the tax rates in Seneca County can significantly impact homeowners, making it essential for them to stay informed about their property's assessed value and any potential exemptions they may qualify for.
Average Seneca County Tax Bill
$3,564
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Seneca County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Clyde | $1,076 | $1,550 | $2,399 | $3,983 | $6,137 |
| Fayette | $1,838 | $1,915 | $2,355 | $3,926 | $4,453 |
| Geneva | $1,602 | $2,403 | $3,597 | $6,369 | $9,708 |
| Hector | $1,171 | $1,934 | $2,810 | $4,976 | $5,854 |
| Interlaken | $1,355 | $2,270 | $3,289 | $5,282 | $8,037 |
| Lodi | $1,204 | $2,079 | $3,533 | $6,157 | $8,584 |
| Lyons | $1,312 | $2,392 | $3,881 | $4,476 | $5,018 |
| Ovid | $1,183 | $2,030 | $3,188 | $6,184 | $9,761 |
| Phelps | $1,478 | $2,161 | $3,245 | $4,946 | $5,856 |
| Romulus | $1,731 | $2,822 | $4,567 | $7,897 | $10,566 |
| Savannah | N/A | N/A | N/A | N/A | N/A |
| Seneca Falls | $1,726 | $2,811 | $3,902 | $5,798 | $8,212 |
| Trumansburg | $1,405 | $3,126 | $4,680 | $6,822 | $9,385 |
| Waterloo | $1,520 | $2,514 | $3,323 | $4,267 | $5,784 |
Source: Ownwell
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