Cortland County, New York Property Taxes
The median property tax rate in Cortland County is 3.26%, which is significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With a median home value of $117,179, the typical annual property tax bill in Cortland County reaches $3,928, exceeding the national median of $2,690. Property taxes in Cortland County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Cortland County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Cortland or another part of Cortland County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cortland County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.26%
Estimate Property Tax Bill
$3,820
$3,545
Ownwell’s Cortland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Cortland with just 2 data points. Enter your property's estimated assessed value, our calculator applies the median tax rate in Cortland to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Cortland County, New York
Property taxes in Cortland play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cortland is 3.26%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Cortland set these rates annually, and they can vary significantly between different areas within the county. Each year, Cortland estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Cortland's effective property tax rate with other counties and the national median. For comparison, the city of Cuyler has one of the higher property tax rates in the area at 4.05%, while the city of Harford boasts one of the lowest at 1.90%. Analyzing how Cortland's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
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 Cortland County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blodgett Mills | N/A | N/A | N/A | N/A | N/A |
| Cincinnatus | 1.33% | 1.69% | 3.24% | 3.40% | 3.52% |
| Cortland | 1.65% | 3.17% | 3.38% | 4.39% | 4.47% |
| Cuyler | N/A | N/A | N/A | N/A | N/A |
| De Ruyter | 1.56% | 2.35% | 3.48% | 3.48% | 3.48% |
| Dryden | 1.58% | 3.00% | 3.17% | 3.73% | 4.03% |
| Harford | 0.69% | 1.33% | 1.90% | 2.28% | 4.03% |
| Homer | 1.65% | 3.03% | 3.03% | 3.18% | 3.29% |
| Little York | 1.65% | 1.65% | 3.18% | 3.26% | 3.26% |
| Marathon | 1.11% | 2.53% | 3.15% | 3.42% | 4.01% |
| Mc Graw | 1.52% | 3.17% | 3.28% | 3.90% | 3.90% |
| Pitcher | N/A | N/A | N/A | N/A | N/A |
| Preble | 1.65% | 2.81% | 3.24% | 3.24% | 3.31% |
| Richford | 1.90% | 3.23% | 3.97% | 4.03% | 4.03% |
| Smithville Flats | N/A | N/A | N/A | N/A | N/A |
| Truxton | 1.24% | 1.65% | 3.45% | 3.48% | 3.48% |
| Tully | 1.63% | 3.21% | 3.50% | 3.50% | 3.50% |
| Whitney Point | N/A | N/A | N/A | N/A | N/A |
| Willet | 1.05% | 1.49% | 3.24% | 3.24% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Cortland County, New York
In Cortland County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Cortland County Appraisal District. The assessed value, however, 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 in Cortland County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Cortland County, Tully has the highest median tax bill at $5,382, while Harford has the lowest at $1,363. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Cortland County, New York
Source: Ownwell
$78,089
$126,995
$175,901
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 Cortland County, New York
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blodgett Mills | N/A | N/A | N/A | N/A | N/A |
| Cincinnatus | $31,960 | $55,710 | $91,142 | $134,290 | $204,500 |
| Cortland | $74,699 | $94,819 | $119,277 | $167,108 | $241,619 |
| Cuyler | N/A | N/A | N/A | N/A | N/A |
| De Ruyter | $34,837 | $69,474 | $98,372 | $145,000 | $197,977 |
| Dryden | $63,689 | $112,125 | $165,202 | $221,186 | $270,782 |
| Harford | $20,528 | $46,000 | $82,500 | $116,000 | $163,000 |
| Homer | $74,881 | $105,357 | $137,143 | $178,571 | $237,448 |
| Little York | $93,214 | $124,197 | $151,786 | $191,850 | $256,640 |
| Marathon | $46,227 | $78,736 | $106,954 | $152,613 | $219,565 |
| Mc Graw | $52,072 | $78,219 | $104,250 | $142,683 | $199,295 |
| Pitcher | N/A | N/A | N/A | N/A | N/A |
| Preble | $58,000 | $107,628 | $136,474 | $179,205 | $281,461 |
| Richford | $51,000 | $73,300 | $108,000 | $137,500 | $229,000 |
| Smithville Flats | N/A | N/A | N/A | N/A | N/A |
| Truxton | $31,250 | $55,766 | $96,762 | $140,969 | $219,650 |
| Tully | $87,782 | $125,688 | $175,901 | $256,668 | $339,974 |
| Whitney Point | N/A | N/A | N/A | N/A | N/A |
| Willet | $31,847 | $49,682 | $78,089 | $108,535 | $147,006 |
Source: Ownwell
Property Tax Bills Across Cortland County, New York
In Cortland County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Cortland County is $117,179, and tax bills can vary significantly across different percentiles. For instance, homeowners at the 25th percentile face an annual tax bill of $2,513, while those at the 75th percentile see bills around $5,410. At the 90th percentile, tax bills can reach up to $7,540. Comparatively, the national median property tax rate is 0.99%, which means Cortland County's tax rates can be higher for many homeowners. This variation in tax bills is influenced by factors such as property location, home improvements, and changes in market conditions. For example, Tully has the highest median tax bill at $5,382, while Harford has the lowest at $1,363. These differences can significantly impact homeowners' financial planning and overall cost of living.
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 Cortland County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blodgett Mills | N/A | N/A | N/A | N/A | N/A |
| Cincinnatus | $655 | $1,298 | $2,401 | $3,929 | $6,197 |
| Cortland | $1,833 | $3,233 | $4,416 | $5,945 | $8,070 |
| Cuyler | N/A | N/A | N/A | N/A | N/A |
| De Ruyter | $722 | $1,520 | $2,882 | $4,109 | $5,565 |
| Dryden | $1,872 | $3,363 | $4,938 | $6,869 | $9,185 |
| Harford | $191 | $580 | $1,363 | $2,788 | $4,120 |
| Homer | $1,733 | $2,845 | $3,968 | $5,238 | $7,141 |
| Little York | $1,790 | $2,385 | $4,058 | $6,210 | $8,438 |
| Marathon | $894 | $1,844 | $3,194 | $4,598 | $6,114 |
| Mc Graw | $1,151 | $2,245 | $3,337 | $4,534 | $6,089 |
| Pitcher | N/A | N/A | N/A | N/A | N/A |
| Preble | $1,463 | $2,911 | $4,106 | $5,215 | $7,937 |
| Richford | $1,555 | $2,393 | $3,736 | $5,233 | $8,711 |
| Smithville Flats | N/A | N/A | N/A | N/A | N/A |
| Truxton | $689 | $1,301 | $2,562 | $4,002 | $6,370 |
| Tully | $1,960 | $3,780 | $5,382 | $7,898 | $10,829 |
| Whitney Point | N/A | N/A | N/A | N/A | N/A |
| Willet | $488 | $1,024 | $1,804 | $3,043 | $4,126 |
Source: Ownwell