Painted Post, New York Property Taxes
The median property tax rate in Painted Post, NY is 3.26%, 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 Painted Post at $136,000, the typical annual property tax bill reaches $4,593, exceeding the national median of $2,690. Property taxes in Painted Post 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 Painted Post'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 Painted Post 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
Painted Post, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.26%
Estimate Property Tax Bill
$4,434
$4,114
Ownwell’s Painted Post Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Painted Post with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Painted Post 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 Painted Post, New York
Property taxes in Painted Post, 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 Painted Post is 3.26%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Painted Post set these rates annually, and they can vary significantly across different neighborhoods. Each year, Painted Post 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 Painted Post's effective property tax rate to other counties in New York and the national median. For comparison, the highest and lowest median property tax rates in the region are both 3.26%, found in the zip code 14870. Understanding how these cities compare with Painted Post 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 Painted Post Tax Rate
3.26%
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 Painted Post, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14870 | 3.15% | 3.26% | 3.26% | 3.43% | 4.39% |
Source: Ownwell
Property Tax Assessment Values Across Painted Post, New York
In Painted Post, 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 Assessor 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 Painted Post, 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 Painted Post helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Painted Post is $4,593 in the 14870 zip code, while the lowest median tax bill is also $4,593 in the same zip code.
Average Painted Post Assessed Value
$136,000
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 Painted Post, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14870 | $69,072 | $98,000 | $136,000 | $215,789 | $326,932 |
Source: Ownwell
Property Tax Bills Across Painted Post, New York
In Painted Post, located in Steuben County, NY, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate various factors such as the property's location, size, and condition. The tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $136,000, homeowners can expect varying tax bills depending on their property's specific assessed value and any applicable exemptions. In Painted Post, tax bills range significantly, with the 25th percentile at $3,384 and the 75th percentile at $7,369. The 90th percentile sees tax bills as high as $10,967. These figures highlight the variability in property taxes within the area. Comparatively, the national median property tax rate is 0.99%, which can serve as a benchmark for understanding local tax burdens. Homeowners in Painted Post should be aware of these factors as they can significantly impact their annual expenses and overall financial planning.
Average Painted Post Tax Bill
$4,593
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 Painted Post, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14870 | $2,268 | $3,384 | $4,593 | $7,369 | $10,967 |
Source: Ownwell