Rock Stream, New York Property Taxes
The median property tax rate in Rock Stream, NY is 1.74%, 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 Rock Stream at $161,100, the typical annual property tax bill reaches $2,707, slightly exceeding the national median of $2,690. Property taxes in Rock Stream 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 Rock Stream'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 Rock Stream 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
Rock Stream, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$2,803
$2,601
Ownwell’s Rock Stream Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rock Stream with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rock Stream 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 Rock Stream, New York
Property taxes in Rock Stream, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rock Stream is 1.74%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Rock Stream set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rock Stream 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 Rock Stream's effective property tax rate to other counties in New York and the national median. For comparison, the 14878 zip code has both the highest and lowest median property tax rate of 1.74%. Understanding how these cities compare with Rock Stream 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 Rock Stream Tax Rate
1.74%
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 Rock Stream, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14878 | 1.40% | 1.63% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Rock Stream, New York
In Rock Stream, 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 Rock Stream, 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 Rock Stream helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 14878 has the highest and lowest median tax bill at $2707.
Average Rock Stream Assessed Value
$161,100
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 Rock Stream, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14878 | $53,300 | $105,600 | $161,100 | $309,950 | $611,100 |
Source: Ownwell
Property Tax Bills Across Rock Stream, New York
Property tax bills in Rock Stream, located in 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 county assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the final tax bill. Homeowners in Rock Stream experience varying tax bills. For instance, the 25th percentile tax bill is around $1,801, while the 75th percentile tax bill reaches up to $4,716. The highest tax bills, in the 90th percentile, can be as high as $9,011. Comparatively, the median property tax rate in Rock Stream is higher than the national median of 0.99%. This can place a significant financial burden on homeowners, affecting their overall cost of living and potentially influencing decisions related to property investments and homeownership.
Average Rock Stream Tax Bill
$2,707
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 Rock Stream, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14878 | $905 | $1,801 | $2,707 | $4,716 | $9,011 |
Source: Ownwell