Sodus Point, New York Property Taxes
The median property tax rate in Sodus Point, NY is 2.99%, 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 Point at $140,741, the typical annual property tax bill reaches $4,103, exceeding the national median of $2,690. Property taxes in Sodus Point 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 Point'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 Point 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 Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$4,208
$4,161
Ownwell’s Sodus Point Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Sodus Point. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sodus Point to provide an accurate property tax bill estimate. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more granular insights, localized information on neighborhood trends is available further down the page. Your property's assessed value, determined by Wayne County, is used for tax calculations and considers any applicable exemptions.
Property Tax Rates Across Sodus Point, New York
Property taxes in Sodus Point, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sodus Point is 2.99%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Sodus Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sodus Point 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 Point's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14555 has the highest median property tax rate of 2.99%, while the same zip code also has the lowest median tax rate of 2.99%. Understanding how these cities compare with Sodus Point 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 Point Tax Rate
2.99%
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 Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14555 | 2.61% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Sodus Point, New York
In Sodus Point, 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 Point, 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 Sodus Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14555 has the highest and lowest median tax bill at $4,103.
Average Sodus Point Assessed Value
$140,741
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 Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14555 | $20,123 | $86,358 | $140,741 | $226,543 | $347,531 |
Source: Ownwell
Property Tax Bills Across Sodus Point, New York
In Sodus Point, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Sodus Point is $140,741, and the property tax rate in Wayne County is higher than the national median of 0.99%. Factors influencing the tax bill include the home's assessed value, local government budgets, and any applicable exemptions or deductions. For instance, the 25th percentile of tax bills in the area is $2,587, while the 75th percentile reaches $6,580, and the 90th percentile goes up to $10,405. Such high property taxes can significantly impact homeowners, making it crucial for them to understand their assessments and explore potential exemptions. The highest median tax bill in the region is $4,103, which is considerably above the national average, highlighting the importance for homeowners to stay informed and proactive about their property taxes.
Average Sodus Point Tax Bill
$4,103
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 Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14555 | $738 | $2,587 | $4,103 | $6,580 | $10,405 |
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 |