Cincinnatus, Chenango County, New York Property Taxes
Median Cincinnatus, NY effective property tax rate: 2.94%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%. Median Cincinnatus, NY home value: $56,790. Median annual Cincinnatus, NY tax bill: $1,671, $729 lower than the national median property tax bill of $2,400.
How are property taxes in Chenango calculated?
Property taxes in Cincinnatus, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Cincinnatus’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cincinnatus, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cincinnatus, Chenango County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.94%
Estimate Property Tax Bill
$1,670
$1,549
Property Tax Rates Across Cincinnatus, Chenango County, New York
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Cincinnatus in Chenango County, NY, stands out with an effective property tax rate that is notably higher than the national median of 1.02%. The median property tax rate in this area is 2.94%, which is considerably above the national average. This means homeowners in Cincinnatus are paying more than double the typical property tax rate found across the United States. Such a high rate can significantly impact the overall cost of homeownership, making it crucial for property owners in the area to explore possible exemptions and appeals. By understanding the local tax landscape and comparing it with broader trends, homeowners can make informed decisions about their property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Cincinnatus Tax Rate
2.94%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Chenango County Tax Rate
3.08%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cincinnatus, Chenango County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13040 | 2.94% | 2.94% | 2.94% | 2.96% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Cincinnatus, Chenango County, New York
When examining property taxes in Cincinnatus, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Chenango County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Chenango County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cincinnatus.
For example, the median home price in Cincinnatus is $56,790, with tax bills ranging significantly across the county. The zip code 13040 has the highest median home price at $56,790.
Property Tax Assessment Values Across Cincinnatus, Chenango County, New York
Source: Ownwell
$56,790
$92,270
$127,750
Median Cincinnatus Market Value
$56,790
Median Chenango County Market Value
$92,500
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cincinnatus, Chenango County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13040 | $22,815 | $31,358 | $56,790 | $103,704 | $150,707 |
Source: Ownwell
Property Tax Bills Across Cincinnatus, Chenango County, New York
Median Cincinnatus Tax Bill
$1,671
Median Chenango County Tax Bill
$2,965
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Cincinnatus, Chenango County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13040 | $662 | $926 | $1,671 | $2,991 | $4,510 |
Source: Ownwell