Bridgeport, New York Property Taxes
The median property tax rate in Bridgeport, NY is 3.70%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $105,814 in Bridgeport, the typical annual property tax bill reaches $4,030, far exceeding the national median of $2,690. Property taxes in Bridgeport are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Bridgeport'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 Bridgeport 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
Bridgeport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.7%
Estimate Property Tax Bill
$3,915
$3,871
Ownwell’s Bridgeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgeport 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 Bridgeport, New York
Property taxes in Bridgeport, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 3.70%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13030 has the highest median property tax rate of 3.70%, while the same zip code also has the lowest median tax rate of 3.70%. Understanding how these cities compare with Bridgeport provides valuable insights into the varying tax landscape across Onondaga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
3.70%
Average Onondaga County Tax Rate
3.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13030 | 3.27% | 3.44% | 3.70% | 3.89% | 3.94% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, New York
In Bridgeport, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Onondaga County Assessment Office 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 Bridgeport, 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. 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 in Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,030, found in the 13030 zip code.
Average Bridgeport Assessed Value
$105,814
Average Onondaga County Assessed Value
$152,577
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13030 | $90,698 | $96,512 | $105,814 | $168,605 | $227,907 |
Source: Ownwell
Property Tax Bills Across Bridgeport, New York
In Bridgeport, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value. Homeowners in Bridgeport can expect to pay property taxes that vary significantly depending on their home's value. For instance, the tax bill at the 25th percentile is around $3,701, while at the 75th percentile, it rises to approximately $5,779. At the 90th percentile, homeowners might see a tax bill as high as $7,850. These tax rates are crucial as they directly impact homeowners' annual financial obligations. Compared to the national median property tax rate of 0.99%, Bridgeport's property taxes can be considerably higher, reflecting the local government's funding needs for public services like schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Bridgeport Tax Bill
$4,030
Average Onondaga County Tax Bill
$5,213
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13030 | $3,441 | $3,701 | $4,030 | $5,779 | $7,850 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Onondaga Assessment Review Commission | |
| Website | onondaga.go2gov.net |