Weedsport, New York Property Taxes
The median property tax rate in Weedsport, NY is 2.81%, 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 Weedsport at $143,590, the typical annual property tax bill reaches $3,919, far exceeding the national median of $2,690. Property taxes in Weedsport 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 Weedsport'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 Weedsport 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
Weedsport, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.81%
Estimate Property Tax Bill
$4,035
$3,989
Ownwell’s Weedsport Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Weedsport with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Weedsport to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Weedsport, New York
Property taxes in Weedsport, NY, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weedsport is 2.81%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Weedsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weedsport 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 Weedsport's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13166 has the highest median property tax rate of 2.81%, while the same zip code also has the lowest median tax rate of 2.81%. Understanding how these areas compare with Weedsport 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 Weedsport Tax Rate
2.81%
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 Weedsport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13166 | 2.48% | 2.75% | 2.81% | 2.86% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Weedsport, New York
In Weedsport, 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 Weedsport, 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 Weedsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 13166 at $3,919, while the lowest is also 13166 at $3,919.
Average Weedsport Assessed Value
$143,590
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 Weedsport, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13166 | $71,808 | $105,897 | $143,590 | $186,827 | $244,661 |
Source: Ownwell
Property Tax Bills Across Weedsport, New York
In Weedsport, located in Cayuga County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and is meant to reflect the market value of the property. Factors such as location, property size, and home improvements can influence this value. Homeowners in Weedsport face property tax bills that vary significantly. The 25th percentile tax bill is $2,850, while the 75th percentile reaches $5,186, and the 90th percentile soars to $6,873. These figures highlight the range of property tax burdens in the area. The median home price in Weedsport is $143,590, which can help homeowners estimate their potential tax liability. Compared to the national median property tax rate of 0.99%, Weedsport's property taxes can be relatively high, affecting homeowners' annual budgets and overall financial planning. Accurate assessments and understanding local tax rates are crucial for homeowners to anticipate their tax obligations.
Average Weedsport Tax Bill
$3,919
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 Weedsport, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13166 | $1,718 | $2,850 | $3,919 | $5,186 | $6,873 |
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 |