Elma, Erie County, New York Property Taxes

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

Median Elma, NY effective property tax rate: 1.59%, significantly higher than the national median of 1.02%, and lower than the New York state median of 1.90%.
Median Elma, NY home value: $345,400
Median annual Elma, NY tax bill: $5,799, $3,399 higher than the national median property tax bill of $2,400.

How are property taxes in Erie calculated?

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

Last Updated March 1, 2025

Elma, Erie County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.59%

Estimate Property Tax Bill

$5,492

$5,096

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

Property Tax Rates Across Elma, Erie County, New York

Local government entities set tax rates, which can vary significantly within a state. This is because each county annually estimates its required budget to provide services and divides that 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 setting tax rates and budgets, this is essentially the annual process.

Elma's effective property tax rate is a vital metric for homeowners in Erie County. The rate stands out when compared to other cities in New York and the national landscape. Elma's rate is notably higher than the national median of 1.02%, reflecting the county's budgetary needs and property values. This higher rate can impact homeowners' financial planning, making it crucial for potential buyers and current residents to understand the local tax landscape. By comparing Elma’s rate to other areas, homeowners can make informed decisions about their property investments. Understanding these nuances can help residents navigate their financial commitments more effectively.

Property Tax Rates Across Elma, Erie County, New York

Source: Ownwell

0.31%

1.14%

1.97%

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 Elma Tax Rate

1.59%

Median Effective Erie County Tax Rate

0.31%

Median Effective New York Tax Rate

1.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Elma, Erie County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
14059	1.59%	1.59%	1.59%	1.59%	1.59%

Source: Ownwell

Property Tax Assessment Values Across Elma, Erie County, New York

When examining property taxes in Elma, 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 Erie 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. Assessment notices: In Erie 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 Elma. For example, the median home price in Elma is $345,400, with tax bills ranging significantly across the county. 14059 has the highest median home price at $345,400.

Property Tax Assessment Values Across Elma, Erie County, New York

Source: Ownwell

$50,407

$306,174

$561,941

Median Elma Market Value

$345,400

Median Erie County Market Value

$232,174

Median New York Market Value

$312,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Elma, Erie County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
14059	$217,223	$270,370	$345,400	$460,185	$614,815

Source: Ownwell

Property Tax Bills Across Elma, Erie County, New York

In Elma, located in Erie County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor and reflects the home's market value. In Elma, the median property tax bill is $5,799, which significantly exceeds the national median of $2,400. This high tax bill is a result of the area's property values and tax rates, which are higher than the national average. Homeowners in Elma can feel the financial strain of these elevated property taxes, especially when compared to national figures.

Ownwell offers a solution for homeowners looking to reduce their property tax burden. By providing expert property tax appeal services, Ownwell helps homeowners ensure their properties are fairly assessed. This can lead to significant savings on property tax bills. With Ownwell's assistance, homeowners in Elma can potentially lower their tax liabilities, aligning more closely with their property's true market value, and easing the financial pressure from high property taxes.

Property Tax Bills Across Elma, Erie County, New York

Source: Ownwell

$111

$2,955

$5,799

Median Elma Tax Bill

$5,799

Median Erie County Tax Bill

$360

Median New York Tax Bill

$5,420

Median United States Tax Bill

$2,400

Property Tax Bills Across Elma, Erie County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
14059	$5,799	$5,799	$5,799	$5,799	$5,799

Source: Ownwell

Don't miss the deadline to file a grievance!

Dates

Links
Erie Assessment Review Commission
Website	erieny.maps.arcgis.com