East Bethany, New York Property Taxes
The median property tax rate in East Bethany, NY is 3.34%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $184,700 in East Bethany, the typical annual property tax bill reaches $5,669, surpassing the national median of $2,690. Property taxes in East Bethany 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 East Bethany'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 East Bethany 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
East Bethany, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.34%
Estimate Property Tax Bill
$6,169
$5,725
Ownwell’s East Bethany Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in East Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Bethany to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Wyoming County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across East Bethany, New York
Property taxes in East Bethany, 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 East Bethany is 3.34%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within East Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Bethany 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 East Bethany's effective property tax rate to other counties in New York and the national median. For comparison, the 14054 zip code has the highest median property tax rate of 3.34%, while the same 14054 zip code also has the lowest median tax rate of 3.34%. Understanding how these cities compare with East Bethany provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Bethany Tax Rate
3.34%
Average Wyoming County Tax Rate
2.98%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | 2.73% | 2.84% | 3.34% | 3.41% | 3.44% |
Source: Ownwell
Property Tax Assessment Values Across East Bethany, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in East Bethany, NY. 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 Wyoming 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 East Bethany, 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 East Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 14054, with a median tax bill of $5669.
Average East Bethany Assessed Value
$184,700
Average Wyoming County Assessed Value
$124,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | $130,880 | $148,800 | $184,700 | $222,000 | $245,353 |
Source: Ownwell
Property Tax Bills Across East Bethany, New York
In East Bethany, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. Homeowners in East Bethany, located in Wyoming County, experience property tax rates that can significantly impact their finances. The median home price in the area is $184,700, and property tax bills can vary widely. For instance, the 25th percentile tax bill is approximately $4,817, while the 75th percentile tax bill reaches around $6,637. At the higher end, the 90th percentile tax bill is about $7,693. These figures highlight the substantial range in property tax obligations, influenced by factors such as property improvements, location, and market conditions. Compared to the national median property tax rate of 0.99%, homeowners in East Bethany may find their tax rates to be relatively high, reflecting the area's specific valuation and assessment practices. This variability underscores the importance of understanding local property tax dynamics for homeowners.
Average East Bethany Tax Bill
$5,669
Average Wyoming County Tax Bill
$3,932
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across East Bethany, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14054 | $4,179 | $4,817 | $5,669 | $6,637 | $7,693 |
Source: Ownwell