Blodgett Mills, New York Property Taxes
The median property tax rate in Blodgett Mills, NY is 3.23%, 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 Blodgett Mills, the typical annual property tax bill reaches $2,422, which is below the national median of $2,690. Property taxes in Blodgett Mills 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 Blodgett Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Blodgett Mills 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
Blodgett Mills, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.23%
Estimate Property Tax Bill
$2,681
$2,651
Ownwell’s Blodgett Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blodgett Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blodgett Mills 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 Blodgett Mills, New York
Property taxes in Blodgett Mills, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blodgett Mills is 3.23%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Blodgett Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blodgett Mills 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 Blodgett Mills' effective property tax rate to other counties in New York and the national median. For comparison, the 13738 zip code has the highest median property tax rate of 3.23%, while the same zip code also has the lowest median tax rate of 3.23%. Understanding how these cities compare with Blodgett Mills provides valuable insights into the varying tax landscape across Cortland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blodgett Mills Tax Rate
3.23%
Average Cortland County Tax Rate
3.26%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blodgett Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13738 | 1.49% | 2.14% | 3.23% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Blodgett Mills, New York
In Blodgett Mills, 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 Cortland 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. In Blodgett Mills, 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 instance, the median home price is $83,000, with tax bills in the 25th percentile at $1,742 and in the 75th percentile at $2,553. The highest and lowest median tax bills both fall within the zip code 13738, each at $2,422. By understanding 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 Blodgett Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blodgett Mills, New York
Source: Ownwell
$58,421
$117,161
$175,901
Average Blodgett Mills Assessed Value
$83,000
Average Cortland County Assessed Value
$117,179
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blodgett Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13738 | $76,500 | $78,938 | $83,000 | $92,062 | $97,500 |
Source: Ownwell
Property Tax Bills Across Blodgett Mills, New York
In Blodgett Mills, located in Cortland 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 reflects the market value of the property. Homeowners in Blodgett Mills face varying tax bills, with the 25th percentile paying around $1,742 and the 75th percentile paying approximately $2,553. The highest median tax bill in the area is $2,422, found in the 13738 zip code. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Blodgett Mills often find their tax rates higher, impacting their annual financial planning. Understanding these factors can help homeowners anticipate their tax obligations and potentially seek exemptions or appeals to manage their expenses more effectively.
Average Blodgett Mills Tax Bill
$2,422
Average Cortland County Tax Bill
$3,928
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Blodgett Mills, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13738 | $1,334 | $1,742 | $2,422 | $2,553 | $2,632 |
Source: Ownwell