Bellona, New York Property Taxes
The median property tax rate in Bellona, NY is 2.17%, 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 Bellona at $121,850, the typical annual property tax bill reaches $2,461, slightly below the national median of $2,690. Property taxes in Bellona 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 Bellona'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 Bellona 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
Bellona, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$2,644
$2,614
Ownwell’s Bellona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellona 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 Bellona, New York
Property taxes in Bellona, 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 Bellona is 2.17%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bellona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellona 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 Bellona's effective property tax rate to other counties in New York and the national median. For comparison, the 14415 zip code has the highest median property tax rate of 2.17%, while the lowest median tax rate is also 2.17%. Understanding how these cities compare with Bellona provides valuable insights into the varying tax landscape across Yates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellona Tax Rate
2.17%
Average Yates County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellona, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14415 | 1.87% | 2.03% | 2.17% | 2.24% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Bellona, New York
In Bellona, 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 Yates 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 Bellona, 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 Bellona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bellona is $2,461 in the 14415 zip code, while the lowest median tax bill is also $2,461 in the same zip code.
Average Bellona Assessed Value
$121,850
Average Yates County Assessed Value
$166,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellona, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14415 | $39,400 | $81,900 | $121,850 | $163,100 | $196,100 |
Source: Ownwell
Property Tax Bills Across Bellona, New York
Property tax bills in Bellona, Yates County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects a percentage of the property's market value. In Bellona, homeowners face varying tax bills depending on their property's assessed value and the specific tax rate applied. For example, the median home price in Bellona is $121,850, and property tax bills can range significantly. Homeowners in the 25th percentile pay around $1,795, while those in the 75th percentile see bills closer to $3,475. The top 10% of homeowners face tax bills as high as $3,986. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bellona's tax rates can result in higher annual tax bills for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Bellona Tax Bill
$2,461
Average Yates County Tax Bill
$3,654
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellona, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14415 | $968 | $1,795 | $2,461 | $3,475 | $3,986 |
Source: Ownwell