Arkport, New York Property Taxes
The median property tax rate in Arkport, NY is 3.16%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With the median home value in Arkport at $103,839, the typical annual property tax bill reaches $3,195, surpassing the national median of $2,690. Property taxes in Arkport 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 Arkport'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 Arkport or another part of Steuben County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arkport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.16%
Estimate Property Tax Bill
$3,281
$3,244
Ownwell’s Arkport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arkport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arkport 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 Arkport, New York
Property taxes in Arkport, 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 Arkport is 3.16%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Arkport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arkport 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 Arkport's effective property tax rate to other counties in New York and the national median. For comparison, the 14807 zip code has the highest median property tax rate of 3.16%, while the same zip code also has the lowest median tax rate of 3.16%. Understanding how these cities compare with Arkport provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arkport Tax Rate
3.16%
Average Steuben County Tax Rate
2.84%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arkport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14807 | 2.74% | 3.01% | 3.16% | 3.33% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across Arkport, New York
In Arkport, 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 Steuben 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 Arkport, 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. In Arkport, the median home price is $103,839, and the median property tax bill is $3,195. Identifying opportunities for protesting assessments or applying for exemptions can effectively manage the tax burden.
Average Arkport Assessed Value
$103,839
Average Steuben County Assessed Value
$102,326
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arkport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14807 | $37,194 | $69,000 | $103,839 | $152,462 | $209,184 |
Source: Ownwell
Property Tax Bills Across Arkport, New York
In Arkport, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Steuben County. The assessed value is determined by local assessors and reflects a percentage of the property's market value. Homeowners in Arkport experience a range of property tax bills, with the 25th percentile paying around $2,104 annually, while those in the 75th percentile face bills up to $4,788. At the higher end, the 90th percentile of homeowners can see tax bills reaching $6,500. The median home price in Arkport is $103,839, and the tax rate is influenced by budgetary needs of the county, school districts, and other local jurisdictions. This can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. For example, in the zip code 14807, the median tax bill is $3,195. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their budgets accordingly.
Average Arkport Tax Bill
$3,195
Average Steuben County Tax Bill
$2,992
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Arkport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14807 | $1,074 | $2,104 | $3,195 | $4,788 | $6,500 |
Source: Ownwell