Bluff Point, New York Property Taxes
The median property tax rate in Bluff Point, NY is 1.68%, 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 Bluff Point, the typical annual property tax bill reaches $7,379, exceeding the national median of $2,690. Property taxes in Bluff 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 Bluff 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 Bluff Point or another part of Yates County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bluff Point, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$8,694
$8,596
Ownwell’s Bluff Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluff Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluff Point 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 Bluff Point, New York
Property taxes in Bluff Point, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bluff Point is 1.68%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bluff Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluff 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 Bluff Point's effective property tax rate to other counties in New York and the national median. For comparison, the 14478 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Bluff Point 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 Bluff Point Tax Rate
1.68%
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 Bluff Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14478 | 1.53% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Bluff Point, New York
In Bluff 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 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 Bluff 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. Bluff Point's median home price is $517,500, with a median property tax bill of $7,379 in the zip code 14478. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bluff Point Assessed Value
$517,500
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 Bluff Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14478 | $212,820 | $339,000 | $517,500 | $1,090,000 | $1,168,000 |
Source: Ownwell
Property Tax Bills Across Bluff Point, New York
In Bluff Point, located in Yates County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Bluff Point is $517,500, and property tax rates in this region are notably higher than the national median property tax rate of 0.99%. Homeowners in Bluff Point can expect their tax bills to vary significantly, with the 25th percentile tax bill at $5,702 and the 75th percentile tax bill reaching $18,334. For those in the 90th percentile, the tax bill can be as high as $19,646. These tax bills are influenced by various factors, including the assessed value of the property, local government budgets, and specific tax rates set by the county. Higher property taxes can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively and anticipate changes in their annual property tax bills.
Average Bluff Point Tax Bill
$7,379
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 Bluff Point, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14478 | $3,580 | $5,702 | $7,379 | $18,334 | $19,646 |
Source: Ownwell