Little York, New York Property Taxes
The median property tax rate in Little York, NY is 3.18%, 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 Little York at $151,786, the typical annual property tax bill reaches $4,058, exceeding the national median of $2,690. Property taxes in Little York 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 Little York'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 Little York 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
Little York, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.18%
Estimate Property Tax Bill
$4,827
$4,772
Ownwell’s Little York Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little York with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little York 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 Little York, New York
Property taxes in Little York, NY, play a crucial role in financing essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Little York is 3.18%, which is significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities in Little York set these rates annually, and they can vary considerably across different neighborhoods. Each year, Little York estimates its required budget to sustain services for the upcoming fiscal year. This budget is then divided by the total value of all taxable property within the jurisdiction to determine the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the foundation for setting property tax rates. The data below compares Little York's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13087 has the highest median property tax rate of 3.18%, while the same zip code also has the lowest median tax rate of 3.18%. Understanding how these cities compare with Little York offers 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 Little York Tax Rate
3.18%
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 Little York, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13087 | 1.65% | 1.65% | 3.18% | 3.26% | 3.26% |
Source: Ownwell
Property Tax Assessment Values Across Little York, New York
In Little York, 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 Little York, 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. The median home price in Little York is $151,786, with property tax bills ranging from $2,385 at the 25th percentile to $8,438 at the 90th percentile. 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 Little York helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Little York Assessed Value
$151,786
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 Little York, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13087 | $93,214 | $124,197 | $151,786 | $191,850 | $256,640 |
Source: Ownwell
Property Tax Bills Across Little York, New York
In Little York, Cortland County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Little York, the median home price is $151,786. The tax bills can vary significantly, with the 25th percentile at $2,385 and the 75th percentile reaching $6,210. At the 90th percentile, homeowners might see tax bills as high as $8,438. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Little York's tax rates result in higher annual tax bills for many homeowners. This can significantly impact household budgets, making it crucial for homeowners to understand how their property is assessed and to explore any available exemptions or appeal options to potentially lower their tax burden.
Average Little York Tax Bill
$4,058
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 Little York, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13087 | $1,790 | $2,385 | $4,058 | $6,210 | $8,438 |
Source: Ownwell