Medusa, New York Property Taxes
The median property tax rate in Medusa, NY is 2.59%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Medusa, the typical annual property tax bill reaches $4,807, exceeding the national median of $2,690. Property taxes in Medusa are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Medusa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Medusa or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Medusa, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$4,817
$4,763
Ownwell’s Medusa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Medusa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Medusa to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Medusa, New York
Property taxes in Medusa, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Medusa is 2.59%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Medusa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Medusa estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Medusa's effective property tax rate to other counties in New York and the national median. For comparison, the 12120 zip code has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these areas compare with Medusa provides valuable insights into the varying tax landscape across Albany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Medusa Tax Rate
2.59%
Average Albany County Tax Rate
2.39%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | 2.44% | 2.55% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Medusa, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Medusa, New York. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Albany County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Medusa, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the highest median tax bill in Medusa is $4,807 in the zip code 12120, while the lowest median tax bill is also $4,807 in the same zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Medusa Assessed Value
$186,000
Average Albany County Assessed Value
$213,453
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | $85,760 | $138,800 | $186,000 | $250,000 | $333,760 |
Source: Ownwell
Property Tax Bills Across Medusa, New York
In Medusa, a city within Albany 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. Several factors influence this calculation, including the property's market value, location, and any applicable exemptions or deductions. For example, the median home price in Medusa is $186,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,505, the 75th percentile at $6,438, and the 90th percentile reaching up to $8,505. These figures highlight the variability in tax burdens among homeowners, influenced by property values and assessment practices. Comparatively, the national median property tax rate is 0.99%, making Medusa's tax rates notably higher. This can have a substantial impact on homeowners, affecting monthly mortgage payments and overall affordability. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Medusa Tax Bill
$4,807
Average Albany County Tax Bill
$4,990
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | $1,996 | $3,505 | $4,807 | $6,438 | $8,505 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Albany Assessment Review Commission | |
| Website | albany.sdgnys.com |