Sayre, New York Property Taxes
The median property tax rate in Sayre, NY is 2.12%, 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 Sayre, the typical annual property tax bill reaches $1,356, exceeding the national median of $2,690. Property taxes in Sayre 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 Sayre'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 Sayre 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
Sayre, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$1,246
$1,157
Ownwell’s SAYRE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SAYRE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SAYRE 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 Sayre, New York
Property taxes in Sayre, 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 Sayre is 2.12%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Sayre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sayre 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 Sayre's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 18840 has both the highest and lowest median property tax rate of 2.12%. Understanding how these areas compare with Sayre provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sayre Tax Rate
2.12%
Average Tioga County Tax Rate
3.13%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sayre, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18840 | 1.88% | 1.97% | 2.12% | 2.27% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Sayre, New York
In Sayre, 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 Tioga 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 Sayre, 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. For instance, the highest median tax bill in the area is $1356.00 in zip code 18840, while the lowest median tax bill is also $1356.00 in the same zip code. 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 Sayre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sayre Assessed Value
$58,788
Average Tioga County Assessed Value
$119,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sayre, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18840 | $29,523 | $40,497 | $58,788 | $77,078 | $88,052 |
Source: Ownwell
Property Tax Bills Across Sayre, New York
In Sayre, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Sayre, Tioga County, can expect varying tax bills depending on their property's assessed value. The median home price in Sayre is $58,788, which serves as a basis for calculating the tax bill. Factors such as property size, location, and improvements can influence the assessed value. The property tax rate in Sayre is applied to this assessed value to determine the tax bill. For example, at the 25th percentile, homeowners might pay around $881, while those at the 75th percentile could see bills as high as $1,831. The 90th percentile tax bill reaches approximately $2,116. Comparatively, the national median property tax rate is 0.99%, making Sayre's tax rates relatively moderate. These taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Sayre Tax Bill
$1,356
Average Tioga County Tax Bill
$3,510
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Sayre, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18840 | $595 | $881 | $1,356 | $1,831 | $2,116 |
Source: Ownwell