Example of Genesee County Property Tax Calculation
Genesee County determines property taxes by multiplying the assessed value of a property by the current tax rate. The assessed value is determined by the county assessor's office, which assesses the value of the property based on a variety of factors including the property's location, size, and condition.
For example, if a property in Genesee County has an assessed value of $100,000 and the current tax rate is 2%, the property owner would owe $2,000 in property taxes for that year.
It's important to note that the tax rate can vary depending on where the property is located within the county and that property owners may be eligible for certain exemptions or deductions that can lower their tax bill. It's always a good idea for property owners to consult with a tax professional or the county assessor's office for more information on their specific tax situation.
If you want appeal your property tax assessment - contact your local tax assessor.
Genesee County Property Tax Rates
The following table displays the current property tax rates for Genesee County, in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Operating | $4.10 |
| County Debt | $0.45 |
| School Operating | $4.10 |
| School Debt | $2.40 |
| Local Municipality | Varies by township/city |
It is important to note that the local municipality tax rate varies depending on the specific township or city within Genesee County. Taxpayers should consult with their local government or tax assessor's office for more information about their specific property tax rates.
Who sets property tax rates in Genesee County ?
The property tax rates in Genesee County are determined by the Genesee County Board of Commissioners. This occurs annually during budget deliberations. The Board of Commissioners reviews the county's budget proposal and determines the tax rate required to meet the needs of the county. The tax rate is then set after public hearings and input from community members. Property tax rates may vary depending on the municipality within Genesee County. The property tax rates are published annually and are due in two installments on July 1st and December 1st of each year.
Homestead exemptions in Genesee County ?
To help Genesee County, New York residents save money on property taxes, the following table outlines all county specific Homestead exemptions and deductions available.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic STAR | Primary residence; Income below $500,000 | Up to $30,000 | Reduction on school taxes |
| Enhanced STAR | Primary residence; Age 65+; Income below $90,550 | Up to $68,530 | Reduction on school taxes (greater than Basic STAR) |
| Senior citizens exemption | Primary residence; Age 65+; Income below $37,399 | Varies | Reduction on county and town taxes |
| Veterans exemption | Primary residence; Active military duty, disabled, or served in a combat zone | Varies | Reduction on county and town taxes |
| Cold War veterans exemption | Primary residence; Served during Cold War era | Varies | Reduction on county and town taxes |
| Volunteer firefighters and ambulance workers exemption | Primary residence; Volunteer for 5+ years | Varies | Reduction on county and town taxes |
| Agricultural exemption | Property used for agricultural purposes | Varies | Reduction on county and town taxes |
It's important to note that eligibility requirements and amount of savings vary for each exemption and deduction. Genesee County residents are encouraged to consult with their local tax assessor for more information and to see if they qualify for any of these tax saving opportunities.
When is Genesee County Property Tax due ?
Genesee County Property Tax is typically due on March 1st of each year. However, taxpayers have until February 14th to pay their taxes without penalty. Additionally, taxpayers who elect to pay their taxes in installments have until September 14th to make their final payment.
There are several payment methods available to taxpayers in Genesee County. These methods include:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay their property taxes online through the Genesee County Treasurer's website. Payments can be made using a checking account, savings account, or credit card. |
| By Mail | Taxpayers can mail their property tax payment to the Genesee County Treasurer's Office. Payments must be postmarked by the due date to be considered on time. |
| In Person | Taxpayers can make their property tax payment in person at the Genesee County Treasurer's Office. Office hours are Monday through Friday, 8:00 am to 4:30 pm. |
| Drop Box | Taxpayers can also use the drop box located outside of the Genesee County Treasurer's Office to submit their payment after hours. |
It is important for taxpayers to remember that failure to pay their property taxes on time can result in penalties and interest charges. Therefore, it is recommended that taxpayers make their payment before the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Genesee County Property Tax penalty calculated ?
Genesee County calculates property tax penalties based on a set of rules and formulas. The penalty is applied when the taxes are not paid by the due date. Here's a breakdown of how it is calculated:
- Initial Deadline: Property taxes in Genesee County are due on February 14th of each year. If the taxes are not paid by this date, they are considered delinquent.
- Penalty Calculation: The penalty for delinquent taxes is 1% per month until the taxes are paid in full, up to a maximum of 12%.
- Example Calculation: Let's say a property owner owes $5,000 in property taxes. If they pay their taxes by the deadline, they owe the full $5,000. However, if they do not pay until six months after the deadline, they will owe an additional 6% in penalties, which amounts to $300. Therefore, their total amount due would be $5,300.
It's important to note that the penalty is calculated based on the amount of taxes owed at the time they become delinquent. If partial payments are made, the penalty will apply to the remaining balance. Additionally, the penalty is applied separately to each tax bill, so if a property owner has multiple bills that are delinquent, they will owe separate penalties for each one.
In summary, Genesee County property tax penalties are calculated at a rate of 1% per month until the taxes are paid in full, with a maximum penalty of 12%. Property owners should make sure to pay their taxes by the February 14th deadline to avoid incurring additional costs.
We recommend contacting the Genesee County Tax Office or a local tax professional for the most up-to-date and accurate information.