Clyde, Seneca County, New York Property Taxes
The median property tax rate in Clyde, NY is 2.61%, 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 Clyde, the typical annual property tax bill reaches $2,399, just below the national median of $2,690. Property taxes in Clyde 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 Clyde'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 Clyde 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
Clyde, Seneca County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$2,610
$2,422
Ownwell’s Clyde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clyde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clyde 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 Clyde, Seneca County, New York
Property taxes in Clyde, New York, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Clyde is 2.61%, significantly higher than the New York state median and the U.S. national median of 0.99%. Local government entities within Clyde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clyde 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 Clyde's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 14433 has both the highest and lowest median property tax rate of 2.61%. Understanding how these areas compare with Clyde provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clyde Tax Rate
2.61%
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 Clyde, Seneca County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14433 | 2.13% | 2.49% | 2.61% | 2.64% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Clyde, Seneca County, New York
In Clyde, 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 Seneca 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 Clyde, 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 Clyde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 14433 has the highest and lowest median tax bill at $2,399.
Property Tax Assessment Values Across Clyde, Seneca County, New York
Source: Ownwell
$95,667
$165,481
$235,294
Average Clyde Assessed Value
$100,000
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 Clyde, Seneca County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14433 | $40,360 | $59,252 | $100,000 | $159,794 | $260,464 |
Source: Ownwell
Property Tax Bills Across Clyde, Seneca County, New York
In Clyde, Seneca County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property, and this percentage can vary. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the property tax bill, including the home's market value, assessment ratio, and the local tax rate. For instance, with a median home price of $100,000, homeowners in Clyde can expect tax bills ranging from $1,550 at the 25th percentile to $6,137 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,399, indicating some consistency in taxation within certain neighborhoods. High property taxes can significantly affect homeowners by increasing the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Clyde's property tax rates can be considerably higher, impacting household budgets and potentially influencing decisions on home purchases and investments.
Average Clyde Tax Bill
$2,399
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 Clyde, Seneca County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14433 | $1,076 | $1,550 | $2,399 | $3,983 | $6,137 |
Source: Ownwell