Beaver Dams, New York Property Taxes
The median property tax rate in Beaver Dams, NY, is 3.64%, 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 Beaver Dams at $121,700, the typical annual property tax bill reaches $4,333, far exceeding the national median of $2,690. Property taxes in Beaver Dams 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 Beaver Dams' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Beaver Dams 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
Beaver Dams, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.64%
Estimate Property Tax Bill
$4,430
$4,380
Ownwell’s Beaver Dams Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beaver Dams with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beaver Dams 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 Beaver Dams, New York
Property taxes in Beaver Dams, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beaver Dams is 3.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Beaver Dams set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beaver Dams 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 Beaver Dams' effective property tax rate to other counties in New York and the national median. For comparison, the 14812 zip code has the highest median property tax rate of 3.64%, while the lowest median tax rate is also 3.64%. Understanding how these cities compare with Beaver Dams 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 Beaver Dams Tax Rate
3.64%
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 Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | 3.34% | 3.64% | 3.64% | 3.64% | 3.64% |
Source: Ownwell
Property Tax Assessment Values Across Beaver Dams, New York
In Beaver Dams, 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 Beaver Dams, 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 Beaver Dams helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,333, found in the 14812 zip code.
Average Beaver Dams Assessed Value
$121,700
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 Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | $42,000 | $64,400 | $121,700 | $175,000 | $265,600 |
Source: Ownwell
Property Tax Bills Across Beaver Dams, New York
In Beaver Dams, 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 property's market value. Various factors, such as the property's size, location, and condition, are considered in this assessment. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Beaver Dams, the property tax burden can vary significantly. The median home price in the area is $121,700. Tax bills can range widely, with the 25th percentile at $2,252, the 75th percentile at $6,162, and the 90th percentile reaching up to $9,527. Comparatively, the national median property tax rate is 0.99%, highlighting that property taxes in Beaver Dams can be relatively high. This variability in tax bills can significantly impact homeowners' financial planning and budgeting, making it essential for property owners to stay informed about their assessed values and corresponding tax obligations.
Average Beaver Dams Tax Bill
$4,333
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 Beaver Dams, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14812 | $1,455 | $2,252 | $4,333 | $6,162 | $9,527 |
Source: Ownwell