Central Square, New York Property Taxes
The median property tax rate in Central Square, NY is 2.91%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Central Square, the typical annual property tax bill reaches $4,297, surpassing the national median of $2,690. Property taxes in Central Square are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Central Square'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 Central Square 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
Central Square, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$4,304
$4,256
Ownwell’s Central Square Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Central Square with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Central Square 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 Central Square, New York
Property taxes in Central Square, New York, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Central Square is 2.91%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Central Square set these rates annually, and they can vary across different neighborhoods. Each year, Central Square 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 Central Square's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13036 has the highest median property tax rate of 2.91%, while the same zip code also has the lowest median tax rate of 2.91%. Understanding how these areas compare with Central Square provides valuable insights into the varying tax landscape across Oswego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Central Square Tax Rate
2.91%
Average Oswego County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Central Square, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13036 | 2.68% | 2.77% | 2.91% | 3.05% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Central Square, New York
In Central Square, 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 Oswego 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 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 Central Square helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $4,297 in the 13036 zip code.
Average Central Square Assessed Value
$147,917
Average Oswego County Assessed Value
$108,696
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Central Square, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13036 | $64,500 | $104,167 | $147,917 | $193,282 | $256,250 |
Source: Ownwell
Property Tax Bills Across Central Square, New York
Property tax bills in Central Square, Oswego County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which is determined by the local assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Central Square, the median home price is $147,917. Tax bills can vary significantly, with the 25th percentile at $3,050 and the 75th percentile reaching $5,646. At the 90th percentile, homeowners might see tax bills as high as $7,398. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local tax environment. The highest and lowest median tax bills in the area are both $4,297, indicating a relatively consistent tax landscape within the 13036 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Central Square Tax Bill
$4,297
Average Oswego County Tax Bill
$3,405
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Central Square, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13036 | $1,915 | $3,050 | $4,297 | $5,646 | $7,398 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Oswego Assessment Review Commission | |
| Website | oswegogis.maps.arcgis.com |