Middlesex, New York Property Taxes
The median property tax rate in Middlesex, NY is 2.42%, 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 Middlesex, the typical annual property tax bill reaches $3,471, exceeding the national median of $2,690. Property taxes in Middlesex 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 Middlesex'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 Middlesex 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
Middlesex, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$3,403
$3,364
Ownwell’s Middlesex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middlesex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middlesex 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 Middlesex, New York
Property taxes in Middlesex, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlesex is 2.42%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Middlesex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlesex 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 Middlesex's effective property tax rate to other counties in New York and the national median. For comparison, the 14507 zip code has the highest median property tax rate of 2.42%, while the same zip code also has the lowest median tax rate of 2.42%. Understanding how these cities compare with Middlesex provides valuable insights into the varying tax landscape across Yates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middlesex Tax Rate
2.42%
Average Yates County Tax Rate
1.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlesex, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14507 | 2.28% | 2.42% | 2.42% | 2.52% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Middlesex, New York
In Middlesex, 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 local 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. In Middlesex, 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. Middlesex has a median home price of $140,600, with tax bills ranging from $2,350 at the 25th percentile to $13,364 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $3,471, found in the 14507 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middlesex Assessed Value
$140,600
Average Yates County Assessed Value
$166,700
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middlesex, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14507 | $53,080 | $89,900 | $140,600 | $283,200 | $568,140 |
Source: Ownwell
Property Tax Bills Across Middlesex, New York
In Middlesex, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, and it is used to calculate the tax bill. Factors such as the home's size, location, and condition are taken into account during the assessment. For homeowners in Middlesex, the median home price is $140,600. Property tax bills can vary significantly, with the 25th percentile at $2,350 and the 75th percentile at $6,760. At the higher end, the 90th percentile sees tax bills reaching up to $13,364. These figures highlight the wide range of property tax burdens that homeowners might face, depending on their property's assessed value and specific local tax rates. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding Middlesex's property tax landscape. Homeowners in this area must consider these factors when budgeting for annual expenses, as property taxes can significantly impact overall financial planning.
Average Middlesex Tax Bill
$3,471
Average Yates County Tax Bill
$3,654
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlesex, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14507 | $1,401 | $2,350 | $3,471 | $6,760 | $13,364 |
Source: Ownwell