Etna, New York Property Taxes
The median property tax rate in Etna, 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 Etna at $169,000, the typical annual property tax bill reaches $4,754, far exceeding the national median of $2,690. Property taxes in Etna are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Etna'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 Etna or another part of Tompkins County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Etna, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$4,918
$4,862
Ownwell’s Etna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Etna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Etna 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 Etna, New York
Property taxes in Etna, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Etna 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 Etna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Etna 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 Etna's effective property tax rate to other counties in New York and the national median. For comparison, the 13062 zip code 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 cities compare with Etna provides valuable insights into the varying tax landscape across Tompkins County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Etna Tax Rate
2.91%
Average Tompkins County Tax Rate
2.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Etna, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13062 | 2.30% | 2.78% | 2.91% | 3.25% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Etna, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Etna, 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 Tompkins County Assessment Department 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 Etna, 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. For example, the highest median tax bill in Etna is $4,754 in the 13062 zip code, while the lowest is also $4,754 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Etna Assessed Value
$169,000
Average Tompkins County Assessed Value
$225,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Etna, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13062 | $87,500 | $130,000 | $169,000 | $210,000 | $265,000 |
Source: Ownwell
Property Tax Bills Across Etna, New York
In Etna, Tompkins 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 property tax bill. For example, in Etna, where the median home price is $169,000, homeowners can expect to pay a significant portion of their home’s value in property taxes annually. Tax bills in Etna vary significantly, with the 25th percentile tax bill at $3,580 and the 75th percentile tax bill at $6,450. At the 90th percentile, homeowners may see tax bills as high as $8,373. These figures illustrate the range of property tax burdens that homeowners in Etna might face. Compared to the national median property tax rate of 0.99%, Etna's property taxes can be considerably higher, affecting homeowners' annual financial planning. Factors such as local government budgets, school funding needs, and community services contribute to these tax rates, directly impacting homeowners in the area.
Average Etna Tax Bill
$4,754
Average Tompkins County Tax Bill
$6,186
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Etna, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13062 | $2,699 | $3,580 | $4,754 | $6,450 | $8,373 |
Source: Ownwell