Cameron Mills, New York Property Taxes
The median property tax rate in Cameron Mills, NY is 2.95%, 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 Cameron Mills at $93,854, the typical annual property tax bill reaches $2,534, which is slightly below the national median of $2,690. Property taxes in Cameron Mills 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 Cameron Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cameron Mills 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
Cameron Mills, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$2,769
$2,569
Ownwell’s Cameron Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cameron Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cameron Mills 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 Cameron Mills, New York
Property taxes in Cameron Mills, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cameron Mills is 2.95%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Cameron Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cameron Mills 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 Cameron Mills' effective property tax rate to other counties in New York and the national median. For comparison, the 14820 zip code has the highest median property tax rate of 2.95%, while the 14820 zip code also has the lowest median tax rate of 2.95%. Understanding how these cities compare with Cameron Mills 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 Cameron Mills Tax Rate
2.95%
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 Cameron Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14820 | 2.43% | 2.79% | 2.95% | 3.05% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Cameron Mills, New York
In Cameron Mills, 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 Assessment Office 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 Cameron Mills, 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. The median home price in Cameron Mills is $93,854, with tax bills ranging significantly. The 25th percentile tax bill is $1,563, while the 75th percentile reaches $3,822. The highest median tax bill in the area is $2,534 in the 14820 zip code. By being aware of these valuation processes, property owners can effectively manage their tax burden, identifying opportunities for protesting assessments or applying for exemptions.
Average Cameron Mills Assessed Value
$93,854
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 Cameron Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14820 | $35,913 | $56,289 | $93,854 | $134,680 | $200,000 |
Source: Ownwell
Property Tax Bills Across Cameron Mills, New York
In Cameron Mills, 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 market value, and this figure is then multiplied by the local tax rate to arrive at the annual property tax bill. Factors that influence the assessed value include the property's location, size, and condition. For homeowners in Cameron Mills, the median home price is $93,854, leading to a tax bill that varies widely. At the 25th percentile, property taxes are around $1,563, while at the 75th percentile, they rise to approximately $3,822. The top 10% of tax bills can reach as high as $5,586. Comparatively, the highest median tax bill in the area is $2,534 in the 14820 zip code. These property taxes impact homeowners by contributing to local services like schools and infrastructure, but they also represent a significant annual expense that varies based on the assessed value and local tax rate.
Average Cameron Mills Tax Bill
$2,534
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 Cameron Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14820 | $1,003 | $1,563 | $2,534 | $3,822 | $5,586 |
Source: Ownwell