Sodus, New York Property Taxes
The median property tax rate in Sodus, NY is 2.75%, 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 Sodus, the typical annual property tax bill reaches $3,095, exceeding the national median of $2,690. Property taxes in Sodus 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 Sodus'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 Sodus 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
Sodus, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$2,871
$2,838
Ownwell’s Sodus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sodus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sodus 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 Sodus, New York
Property taxes in Sodus, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sodus is 2.75%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Sodus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sodus 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 Sodus's effective property tax rate to other counties in New York and the national median. For comparison, the 14551 zip code has the highest median property tax rate of 2.75%, while the same zip code also has the lowest median tax rate of 2.75%. Understanding how these cities compare with Sodus provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sodus Tax Rate
2.75%
Average Wayne County Tax Rate
3.01%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sodus, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14551 | 2.63% | 2.68% | 2.75% | 3.34% | 3.46% |
Source: Ownwell
Property Tax Assessment Values Across Sodus, New York
In Sodus, 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 Wayne 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 Sodus, 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 highest median tax bill in the area is $3,095 in the 14551 zip code. Being aware of these valuation processes in Sodus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sodus Assessed Value
$104,382
Average Wayne County Assessed Value
$152,100
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sodus, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14551 | $48,654 | $76,296 | $104,382 | $149,352 | $221,803 |
Source: Ownwell
Property Tax Bills Across Sodus, New York
In Sodus, located in Wayne County, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by local assessors. The tax rate is set annually by local taxing authorities and can vary based on budgetary needs and voter-approved measures. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. For instance, the median home price in Sodus is $104,382, leading to varying tax bills. Homeowners in the 25th percentile can expect to pay around $2,345, while those in the 75th percentile face a tax bill of approximately $4,160. At the 90th percentile, the tax bill can go up to $5,802. These property taxes play a significant role in funding local services like schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial for financial planning and assessing the affordability of their property.
Average Sodus Tax Bill
$3,095
Average Wayne County Tax Bill
$4,668
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Sodus, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14551 | $1,563 | $2,345 | $3,095 | $4,160 | $5,802 |
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 |