Palmyra, Wayne County, New York Property Taxes
Median Palmyra, NY effective property tax rate: 3.19%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Palmyra, NY home value: $158,600
Median annual Palmyra, NY tax bill: $5,723, $3,323 higher than the national median property tax bill of $2,400.
How are property taxes in Wayne County calculated?
Property taxes in Palmyra, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Palmyra’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Palmyra, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Palmyra, Wayne County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.19%
Estimate Property Tax Bill
$5,059
$4,695
Ownwell’s Palmyra Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Palmyra with just two data points.
By entering your property's estimated assessed value, our calculator applies Palmyra’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wayne County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Palmyra, Wayne County, New York
Local government entities set property tax rates, and these can vary significantly within a state. Each year, counties estimate their required budget to provide essential services and then divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core process.
In Palmyra, located in Wayne County, New York, the effective property tax rate is notably higher than the national median. This reflects the county's budgetary needs and the total assessed value of properties. While the national median property tax rate is 1.02%, Palmyra's rate is significantly above this average, illustrating the variability in property tax rates across different regions.
Comparatively, Palmyra's rate is also higher than the state median, emphasizing the importance of understanding local tax requirements and potential savings through property tax appeals. This comparison highlights the necessity for property owners to be informed and proactive in managing their property tax obligations.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Palmyra Tax Rate
3.19%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wayne County Tax Rate
3.01%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Palmyra, Wayne County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14522 | 2.78% | 3.13% | 3.19% | 4.26% | 4.34% |
Source: Ownwell
Property Tax Assessment Values Across Palmyra, Wayne County, New York
When examining property taxes in Palmyra, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wayne County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Wayne County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Palmyra.
For example, the median home price in Palmyra is $158,600, with tax bills ranging significantly across the county. Zip code 14522 has the highest median home price at $158,600.
Property Tax Assessment Values Across Palmyra, Wayne County, New York
Source: Ownwell
$64,500
$149,025
$233,550
Median Palmyra Market Value
$158,600
Median Wayne County Market Value
$152,100
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Palmyra, Wayne County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14522 | $86,600 | $131,900 | $158,600 | $195,000 | $257,800 |
Source: Ownwell
Property Tax Bills Across Palmyra, Wayne County, New York
In Palmyra, Wayne County, NY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Palmyra face a median property tax bill of $5,723, significantly higher than the national median of $2,400, reflecting the region's higher property tax rate. Factors influencing these taxes include local government budgets, school funding, and public services, which can vary annually. This tax burden can impact homeowners by increasing the cost of homeownership and affecting affordability.
Ownwell offers a solution to alleviate this financial strain by providing property tax appeal and exemption services. By reviewing property assessments, Ownwell identifies opportunities for homeowners to lower their tax bills. This personalized approach ensures that homeowners are not overpaying and can potentially save thousands annually, making homeownership more affordable and sustainable in Palmyra.
Median Palmyra Tax Bill
$5,723
Median Wayne County Tax Bill
$4,668
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Palmyra, Wayne County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14522 | $3,148 | $4,583 | $5,723 | $6,869 | $8,590 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Wayne Assessment Review Commission | |
| Website | wayne.sdgnys.com |