Franklinville, Allegany County, New York Property Taxes

Name: Property Tax Bills Across Franklinville, Allegany County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Franklinville, NY effective property tax rate: 2.99%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%. Median Franklinville, NY home value: $128,000. Median annual Franklinville, NY tax bill: $3,719, $1,319 higher than the national median property tax bill of $2,400. How are property taxes in Allegany calculated? Property taxes in Franklinville, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Franklinville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Franklinville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Franklinville, Allegany County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.99%

Estimate Property Tax Bill

$3,827

$3,552

Ownwell’s Franklinville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Franklinville with just two data points. By entering your property's estimated assessed value, our calculator applies Franklinville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Allegany. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Franklinville, Allegany County, New York

Local government entities are responsible for setting property tax rates, which can differ significantly across a state. This variation occurs because each county annually estimates its budget needs for services and divides that amount by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in determining tax rates and budgets, this is essentially how the process unfolds each year.

In Franklinville, located in Allegany County, NY, property owners experience an effective property tax rate that stands out when compared to other cities in the state and the national average. With Allegany County's median property tax rate at 2.99%, it's notably higher than the national median of 1.02%. This difference highlights the unique fiscal landscape within Franklinville and its surrounding areas.

Understanding these variations is crucial for property owners, as it impacts their annual tax bills and overall financial planning. By staying informed, property owners in Franklinville can make more strategic decisions regarding their property investments and potential tax appeals.

Property Tax Rates Across Franklinville, Allegany County, New York

Source: Ownwell

2.99%

3.85%

4.71%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Franklinville Tax Rate

2.99%

Median Effective Allegany County Tax Rate

3.64%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Franklinville, Allegany County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
14737	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Franklinville, Allegany County, New York

When examining property taxes in Franklinville, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Allegany County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Allegany County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Franklinville. For example, the median home price in Franklinville is $128,000, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Franklinville, Allegany County, New York

Source: Ownwell

$46,700

$83,018

$119,336

Median Franklinville Market Value

$128,000

Median Allegany County Market Value

$72,000

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Franklinville, Allegany County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
14737	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Franklinville, Allegany County, New York

In Franklinville, Allegany County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $128,000, Franklinville's property tax bills can vary significantly. For instance, the 25th percentile tax bill is $3,373, while the 75th percentile reaches $4,092, and the 90th percentile can be as high as $5,014. These figures indicate that property tax bills in Franklinville are considerably higher than the national median tax bill of $2,400. This can have a significant impact on homeowners, as high property taxes can strain finances and affect home affordability. Ownwell can assist homeowners in Franklinville by providing property tax appeal services. By reviewing property assessments and identifying potential discrepancies, Ownwell can help reduce tax liabilities, ensuring homeowners pay only their fair share. This can lead to substantial savings and alleviate the financial burden on homeowners.

Property Tax Bills Across Franklinville, Allegany County, New York

Source: Ownwell

$1,742

$3,640

$5,538

Median Franklinville Tax Bill

$3,719

Median Allegany County Tax Bill

$2,710

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Franklinville, Allegany County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
14737	N/A	N/A	N/A	N/A	N/A

Source: Ownwell