Varysburg, New York Property Taxes
The median property tax rate in Varysburg, NY is 2.52%, 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 Varysburg at $128,866, the typical annual property tax bill reaches $3,316, exceeding the national median of $2,690. Property taxes in Varysburg 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 Varysburg'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 Varysburg or another part of Wyoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Varysburg, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.52%
Estimate Property Tax Bill
$3,247
$3,211
Ownwell’s Varysburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Varysburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Varysburg 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 Varysburg, New York
Property taxes in Varysburg, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Varysburg is 2.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Varysburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Varysburg 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 Varysburg's effective property tax rate to other areas in Wyoming County and the national median. For comparison, the zip code 14167 has the highest median property tax rate of 2.52%, while the same zip code also has the lowest median tax rate of 2.52%. Understanding how these areas compare with Varysburg 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 Varysburg Tax Rate
2.52%
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 Varysburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14167 | 2.33% | 2.39% | 2.52% | 2.68% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Varysburg, New York
In Varysburg, 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 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 Varysburg, 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 Varysburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14167 has both the highest and lowest median tax bill at $3,316, reflecting the diverse property values in the area.
Average Varysburg Assessed Value
$128,866
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 Varysburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14167 | $41,237 | $77,046 | $128,866 | $185,567 | $272,744 |
Source: Ownwell
Property Tax Bills Across Varysburg, New York
In Varysburg, 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. For homeowners in Varysburg, the median home price is $128,866. The property tax rate in Wyoming County is higher than the national median of 0.99%, resulting in a significant impact on tax bills. For instance, homeowners in the 25th percentile can expect to pay around $2,044 annually, while those in the 75th percentile might see bills as high as $4,729. At the 90th percentile, tax bills can soar to $6,566. The highest and lowest median tax bills in the area are both $3,316, indicating a uniformity in tax assessments within the zip code 14167. These taxes fund essential public services, but the higher rates can be a financial burden for homeowners, particularly those with higher-valued properties. Understanding these factors can help homeowners plan and budget more effectively.
Average Varysburg Tax Bill
$3,316
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 Varysburg, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14167 | $1,020 | $2,044 | $3,316 | $4,729 | $6,566 |
Source: Ownwell