Lima, Ontario County, New York Property Taxes

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

Median Lima, NY effective property tax rate: 2.27%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Lima, NY home value: $175,600
Median annual Lima, NY tax bill: $4,348, $1,948 higher than the national median property tax bill of $2,400.

How are property taxes in Ontario calculated?

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

Last Updated March 1, 2025

Lima, Ontario County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.13%

Estimate Property Tax Bill

$2,450

$2,273

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

Property Tax Rates Across Lima, Ontario County, New York

Local government entities set tax rates, which can vary widely within a state. Each county 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Lima, Ontario County, New York, the effective property tax rate is 2.27%. This rate is notably higher than the national median property tax rate of 1.02%. New York's median property tax rate is also 2.27%, which is significantly higher than the national average. This disparity highlights the impact of local governance on property tax rates. Property owners in Lima, therefore, face a higher tax burden compared to many other parts of the country. Understanding these rates and how they are determined can help property owners make informed decisions and potentially seek tax appeals or exemptions if they feel overburdened.

Property Tax Rates Across Lima, Ontario County, New York

Source: Ownwell

1.09%

2.94%

4.79%

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 Lima Tax Rate

1.13%

Median Effective Ontario County Tax Rate

1.97%

Median Effective New York Tax Rate

1.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lima, Ontario County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
14485	1.13%	1.13%	1.13%	1.24%	1.59%

Source: Ownwell

Property Tax Assessment Values Across Lima, Ontario County, New York

When examining property taxes in Lima, 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 Ontario 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 Ontario County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Lima. For example, the median home price in Lima is $175,600, with tax bills ranging significantly across the county. Zip code 14485 has the highest median home price at $175,600.

Property Tax Assessment Values Across Lima, Ontario County, New York

Source: Ownwell

$128,200

$430,300

$732,400

Median Lima Market Value

$216,800

Median Ontario County Market Value

$226,000

Median New York Market Value

$312,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lima, Ontario County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
14485	$129,680	$170,750	$216,800	$316,250	$364,200

Source: Ownwell

Property Tax Bills Across Lima, Ontario County, New York

In Lima, Ontario County, NY, property tax bills are determined based on the assessed value of a home combined with the local tax rate. The median home price in this area is $175,600, but the property tax rate is significantly higher than the national median, resulting in a median tax bill of $4,348. This is notably above the national median property tax bill of $2,400. Homeowners in Lima can experience tax bills ranging from $3,079 at the 25th percentile to $7,047 at the 90th percentile, reflecting the variability in assessed values and tax rates within the area.

Ownwell assists homeowners by identifying opportunities to appeal their property taxes, potentially lowering their tax bills. By analyzing property assessments and comparing them with market values, Ownwell can determine if a homeowner's property is over-assessed. This process can lead to significant savings, especially in areas like Lima where tax bills are considerably high. Homeowners can rely on Ownwell's expertise to navigate the complexities of property tax appeals and exemptions, ensuring they are not overpaying.

Property Tax Bills Across Lima, Ontario County, New York

Source: Ownwell

$1,861

$7,098

$12,334

Median Lima Tax Bill

$2,832

Median Ontario County Tax Bill

$5,005

Median New York Tax Bill

$5,420

Median United States Tax Bill

$2,400

Property Tax Bills Across Lima, Ontario County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
14485	$1,141	$2,032	$2,832	$3,720	$4,472

Source: Ownwell

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