Sherrill, New York Property Taxes
The median property tax rate in Sherrill, NY is 0.58%, considerably lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Sherrill, the typical annual property tax bill reaches $923, well below the national median of $2,690. Property taxes in Sherrill 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 Sherrill'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 Sherrill 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
Sherrill, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$956
$945
Ownwell’s Sherrill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sherrill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sherrill 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 Sherrill, New York
Property taxes in Sherrill, New York, play a critical role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sherrill is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Sherrill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sherrill 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 Sherrill's effective property tax rate to other counties in New York and the national median. For comparison, the 13461 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Sherrill provides valuable insights into the varying tax landscape across Oneida County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sherrill Tax Rate
0.58%
Average Oneida County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sherrill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13461 | 0.47% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Sherrill, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sherrill, NY. The market value is 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 Oneida County Appraisal District 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. Assessment notices in Sherrill 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Sherrill is $164,808, with tax bills ranging from $780 at the 25th percentile to $1,605 at the 90th percentile. The zip code 13461 has the highest median tax bill of $923. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sherrill Assessed Value
$164,808
Average Oneida County Assessed Value
$126,923
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sherrill, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13461 | $126,923 | $142,692 | $164,808 | $215,577 | $267,308 |
Source: Ownwell
Property Tax Bills Across Sherrill, New York
In Sherrill, located in Oneida County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, its size, age, and condition, as well as comparable property sales in the area. Homeowners in Sherrill can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $780, while the 75th percentile reaches approximately $1,255. At the higher end, the 90th percentile tax bill can be as much as $1,605. Compared to the national median property tax rate of 0.99%, Sherrill's property tax rates can have a substantial impact on homeowners' finances. Understanding how these taxes are calculated and what influences them can help homeowners better anticipate their annual expenses and plan accordingly.
Average Sherrill Tax Bill
$923
Average Oneida County Tax Bill
$2,574
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Sherrill, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13461 | $661 | $780 | $923 | $1,255 | $1,605 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Oneida Assessment Review Commission | |
| Website | app.regrid.com |