Fayetteville, New York Property Taxes
The median property tax rate in Fayetteville, NY is 3.86%, 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 Fayetteville at $238,950, the typical annual property tax bill reaches $9,148, exceeding the national median of $2,690. Property taxes in Fayetteville 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 Fayetteville'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 Fayetteville 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
Fayetteville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.86%
Estimate Property Tax Bill
$9,223
$9,119
Ownwell’s Fayetteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville 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 Fayetteville, New York
Property taxes in Fayetteville, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 3.86%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other areas in New York and the national median. For comparison, the 13066 zip code has the highest median property tax rate of 3.86%, while the lowest median tax rate is also 3.86%. Understanding how these cities compare with Fayetteville 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 Fayetteville Tax Rate
3.86%
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 Fayetteville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13066 | 3.58% | 3.70% | 3.86% | 4.10% | 4.18% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, New York
In Fayetteville, NY, 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 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 Fayetteville, 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 Fayetteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 13066 has the highest and lowest median tax bill of $9,148.
Average Fayetteville Assessed Value
$238,950
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 Fayetteville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13066 | $138,100 | $177,175 | $238,950 | $320,725 | $450,420 |
Source: Ownwell
Property Tax Bills Across Fayetteville, New York
In Fayetteville, Onondaga County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $238,950, which serves as a benchmark for determining tax obligations. The assessed value is typically a percentage of the market value, and local authorities apply the tax rate to this assessed value to compute the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. Homeowners in Fayetteville can expect a range of tax bills, with the 25th percentile at $6,991 and the 75th percentile reaching $12,146. The highest median tax bill in the area is $9,148, located within the 13066 zip code. These property taxes significantly impact homeowners, as they contribute to local services such as schools, infrastructure, and emergency services. Comparing the local tax rate to the national median property tax rate of 0.99%, Fayetteville's tax environment can be considered relatively high, affecting overall homeownership costs.
Average Fayetteville Tax Bill
$9,148
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 Fayetteville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13066 | $5,414 | $6,991 | $9,148 | $12,146 | $16,657 |
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 |