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Smithville Flats, Broome County, New York Property Taxes

  • Median Smithville Flats, NY effective property tax rate: 2.72%, significantly higher than the national median of 1.02%, but lower than the NY state median of 2.39%.

  • Median Smithville Flats, NY home value: $57,486

  • Median annual Smithville Flats, NY tax bill: $1,563, $837 lower than the national median property tax bill of $2,400.

How are property taxes in Broome County calculated?

Property taxes in Smithville Flats, 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 Smithville Flats’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Smithville Flats, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Smithville Flats, Broome County, New York Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.72%

Estimate Property Tax Bill

$1,564

$1,451

Ownwell’s Smithville Flats Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Smithville Flats with just two data points. By entering your property's estimated assessed value, our calculator applies Smithville Flats’ 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 Broome County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Smithville Flats, Broome County, New York

Local government entities in Smithville Flats, Broome County, NY, set property tax rates that can vary significantly within the state. Each year, Broome County estimates its required budget to fund essential services and divides this by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate, which in Smithville Flats is notably higher than the national median property tax rate of 1.02%. While votes and laws play a role in setting these rates and budgets, this is the core process that occurs annually.

Smithville Flats' effective property tax rate is 2.72%, which is considerably above both the New York state median and the national average. This higher rate reflects the local government's budgetary needs and the value of properties in the area. Understanding these rates is crucial for property owners, as it directly impacts their annual tax bills. In Smithville Flats, the property tax bill is likely to exceed the national median of $2,400, underscoring the importance of exploring potential tax appeal and exemption opportunities to manage costs effectively.

Property Tax Rates Across Smithville Flats, Broome County, New York

Source: Ownwell

2.33%

4.37%

6.41%

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 Smithville Flats Tax Rate

2.72%

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 Broome County Tax Rate

3.50%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Smithville Flats, Broome County, New York

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
13841N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Assessment Values Across Smithville Flats, Broome County, New York

When examining property taxes in Smithville Flats, 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 Broome 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 Broome County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Smithville Flats. For example, the median home price in Smithville Flats is $57,486, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Smithville Flats, Broome County, New York

Source: Ownwell

$60,170

$114,885

$169,600

Median Smithville Flats Market Value

$57,486

Median Broome County Market Value

$113,808

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Smithville Flats, Broome County, New York

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
13841N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Bills Across Smithville Flats, Broome County, New York

In Smithville Flats, NY, property tax bills are determined by the assessed value of a home and the local tax rate. The area's median home price is $57,486, and property tax rates are applied to this assessed value to calculate the annual tax bill. In Broome County, homeowners face a median property tax bill of approximately $1,182 at the 25th percentile, which can rise to $2,307 at the 75th percentile, and even reach $2,753 at the 90th percentile. These figures highlight the variability in tax bills, reflecting differences in property values and local tax rates. Compared to the national median property tax bill of $2,400, Smithville Flats homeowners may pay less, but the impact on individual finances can still be significant. Ownwell assists homeowners by identifying potential savings through appealing assessed values or finding applicable exemptions. By leveraging local expertise, Ownwell helps reduce property tax burdens, ensuring homeowners in Smithville Flats can keep more of their hard-earned money.

Property Tax Bills Across Smithville Flats, Broome County, New York

Source: Ownwell

$1,617

$3,572

$5,526

Median Smithville Flats Tax Bill

$1,563

Median Broome County Tax Bill

$4,421

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Smithville Flats, Broome County, New York

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
13841N/AN/AN/AN/AN/A

Source: Ownwell

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