Pine City, New York Property Taxes
The median property tax rate in Pine City, NY, is 3.28%, 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 Pine City at $151,446, the typical annual property tax bill reaches $4,694, exceeding the national median of $2,690. Property taxes in Pine City 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 Pine City'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 Pine City 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
Pine City, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.28%
Estimate Property Tax Bill
$4,967
$4,911
Ownwell’s Pine City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Pine City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine City to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Pine City, New York
Property taxes in Pine City, 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 Pine City stands at 3.28%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Pine City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine City 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 Pine City's effective property tax rate to other counties in New York and the national median. For comparison, the 14871 zip code has the highest median property tax rate of 3.28%, while the same zip code also has the lowest median tax rate of 3.28%. Understanding how these cities compare with Pine City 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 Pine City Tax Rate
3.28%
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 Pine City, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14871 | 2.89% | 3.22% | 3.28% | 3.28% | 3.28% |
Source: Ownwell
Property Tax Assessment Values Across Pine City, New York
In Pine City, 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 Pine City, 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. For instance, the zip code with the highest median tax bill is 14871, with a bill of $4,694. By being aware of these valuation processes in Pine City, you can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pine City Assessed Value
$151,446
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 Pine City, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14871 | $50,867 | $102,169 | $151,446 | $207,711 | $273,277 |
Source: Ownwell
Property Tax Bills Across Pine City, New York
In Pine City, located in Steuben County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the market value of similar properties in the area, property size, and any improvements made to the property. Homeowners in Pine City experience varying tax bills depending on their property's assessed value. For example, at the 25th percentile, the tax bill is around $3,158, while at the 75th percentile, it rises to approximately $6,568. Those in the 90th percentile can expect to pay up to $8,448. Compared to the national median property tax rate of 0.99%, Pine City's tax rates can significantly impact homeowners, especially those with higher-valued properties. This variability underscores the importance of understanding local tax assessments and how they affect overall homeownership costs.
Average Pine City Tax Bill
$4,694
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 Pine City, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14871 | $1,587 | $3,158 | $4,694 | $6,568 | $8,448 |
Source: Ownwell