Mount Vision, New York Property Taxes
The median property tax rate in Mount Vision, NY is 0.63%, significantly lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Mount Vision at $128,400, the typical annual property tax bill is $958, which is well below the national median of $2,690. Property taxes in Mount Vision are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Vision's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mount Vision or another part of Otsego County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Vision, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$809
$800
Ownwell’s Mount Vision Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Vision with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Vision 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 Mount Vision, New York
Property taxes in Mount Vision, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Vision is 0.63%, lower than both the New York state median and the U.S. national median of 0.99%. Local government entities within Mount Vision set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Vision 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 Mount Vision's effective property tax rate to other counties in New York and the national median. For comparison, the 13810 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Mount Vision provides valuable insights into the varying tax landscape across Otsego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Vision Tax Rate
0.63%
Average Otsego County Tax Rate
0.66%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Vision, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13810 | 0.59% | 0.60% | 0.63% | 0.63% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Mount Vision, New York
In Mount Vision, NY, 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 Otsego 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. 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 Mount Vision helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Otsego County, the highest and lowest median tax bills are both found in the 13810 zip code, with a value of $958.
Average Mount Vision Assessed Value
$128,400
Average Otsego County Assessed Value
$130,728
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Vision, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13810 | $41,561 | $77,122 | $128,400 | $192,350 | $270,615 |
Source: Ownwell
Property Tax Bills Across Mount Vision, New York
Property tax bills in Mount Vision, located in Otsego County, NY, are determined through a combination of the assessed value of the property and the local tax rate. The median home price in Mount Vision is $128,400. Homeowners can expect their tax bills to vary significantly depending on their property's assessed value and the applicable tax rate. For instance, tax bills in the 25th percentile are around $745, while those in the 75th percentile can reach up to $1,513. At the 90th percentile, tax bills can be as high as $1,856. Several factors influence these property tax bills, including the property's location, size, and any improvements made. The local tax rate in Mount Vision is influenced by county, city, and school district budgets, which can fluctuate annually. Compared to the national median property tax rate of 0.99%, Mount Vision's property tax rates can result in a wide range of tax bills, impacting homeowners' annual financial planning and overall cost of homeownership.
Average Mount Vision Tax Bill
$958
Average Otsego County Tax Bill
$1,051
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Vision, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13810 | $343 | $745 | $958 | $1,513 | $1,856 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Otsego Assessment Review Commission | |
| Website | otsegocountygis.mapxpress.net |