Lansing, New York Property Taxes
The median property tax rate in Lansing, NY is 2.03%, 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 Lansing at $136,530, the typical annual property tax bill reaches $2,681, closely aligning with the national median of $2,690. Property taxes in Lansing 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 Lansing'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 Lansing 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
Lansing, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$2,772
$2,740
Ownwell’s Lansing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lansing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lansing 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 Lansing, New York
Property taxes in Lansing, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lansing is 2.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lansing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lansing 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 Lansing's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14882 has the highest median property tax rate of 2.03%, while the lowest median tax rate is also 2.03%. Understanding how these cities compare with Lansing provides valuable insights into the varying tax landscape across Cayuga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lansing Tax Rate
2.03%
Average Cayuga County Tax Rate
2.43%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lansing, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14882 | 1.42% | 1.93% | 2.03% | 2.03% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Lansing, New York
In Lansing, 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 Cayuga 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 Lansing, 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. For example, the median home price in Lansing is $136,530, with annual property tax bills ranging from $2,438 at the 25th percentile to $4,068 at the 90th percentile. The zip code 14882 has both the highest and lowest median tax bill, pegged at $2,681. 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 Lansing Assessed Value
$136,530
Average Cayuga County Assessed Value
$136,353
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lansing, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14882 | $105,102 | $122,347 | $136,530 | $152,858 | $200,408 |
Source: Ownwell
Property Tax Bills Across Lansing, New York
In Lansing, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Lansing, the median home price stands at $136,530, which serves as a baseline for these calculations. The property tax rate in Lansing is higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. Homeowners in Lansing can expect a range of tax bills, with the 25th percentile at $2,438, the 75th percentile at $3,103, and the 90th percentile reaching up to $4,068. The highest and lowest median tax bills in the region both stand at $2,681, indicating a relatively consistent tax environment across different areas within the same zip code. These tax bills significantly impact homeowners, affecting their annual expenses and the overall affordability of homeownership in Lansing.
Average Lansing Tax Bill
$2,681
Average Cayuga County Tax Bill
$3,328
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Lansing, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14882 | $1,641 | $2,438 | $2,681 | $3,103 | $4,068 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Cayuga Assessment Review Commission | |
| Website | ccgis.cayugacounty.us |