Moravia, New York Property Taxes
The median property tax rate in Moravia, NY is 2.41%, 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 Moravia, the typical annual property tax bill reaches $3,700, exceeding the national median of $2,690. Property taxes in Moravia are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moravia'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 Moravia 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
Moravia, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.41%
Estimate Property Tax Bill
$3,705
$3,664
Ownwell’s Moravia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moravia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moravia 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 Moravia, New York
Property taxes in Moravia, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moravia is 2.41%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Moravia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moravia 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 Moravia's effective property tax rate to other areas in New York and the national median. For comparison, the zip code 13118 has the highest median property tax rate of 2.41%, while the same zip code also has the lowest median tax rate of 2.41%. Understanding how these areas compare with Moravia 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 Moravia Tax Rate
2.41%
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 Moravia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13118 | 2.05% | 2.27% | 2.41% | 2.50% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Moravia, New York
In Moravia, 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 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 Moravia, 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 Moravia is $153,746, with tax bills ranging from $2,407 at the 25th percentile to $8,485 at the 90th percentile. The zip code 13118 has the highest and lowest median tax bill, both at $3,700. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Moravia Assessed Value
$153,746
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 Moravia, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13118 | $60,120 | $99,583 | $153,746 | $240,082 | $380,886 |
Source: Ownwell
Property Tax Bills Across Moravia, New York
In Moravia, 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 Cayuga County assessor's office and is intended to reflect the market value of the property. Factors such as the home's size, age, location, and condition are considered during the assessment process. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Moravia, the median home price is $153,746, and property tax bills can vary significantly. At the 25th percentile, homeowners pay around $2,407, while those at the 75th percentile face bills of approximately $5,599. The highest tax bills, in the 90th percentile, can reach up to $8,485. Comparatively, the national median property tax rate is 0.99%, making Moravia's tax environment relatively demanding. This variation in tax bills can significantly impact homeowners' finances, influencing decisions on property investments and home ownership.
Average Moravia Tax Bill
$3,700
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 Moravia, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13118 | $1,458 | $2,407 | $3,700 | $5,599 | $8,485 |
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 |