Cincinnatus, Cortland County, New York Property Taxes

Name: Property Tax Bills Across Cincinnatus, Cortland County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Cincinnatus, NY effective property tax rate: 3.24%, 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: $91,142
Median annual Cincinnatus, NY tax bill: $2,401, $1 higher than the national median property tax bill of $2,400.

How are property taxes in Cortland 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, Cortland County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.24%

Estimate Property Tax Bill

$2,953

$2,740

Ownwell’s Cincinnatus Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cincinnatus with just two data points. By entering your property's estimated assessed value, our calculator applies Cincinnatus’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cortland County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cincinnatus, Cortland County, New York

Local government entities set tax rates, which can vary widely within a state. This variation is because each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process. In Cincinnatus, located in Cortland County, NY, the effective property tax rate is a notable point of comparison. It stands out against other cities in New York and the national median. With a median property tax rate of 3.24%, Cincinnatus significantly exceeds the national median of 1.02%. This higher rate reflects the unique budgetary needs and property values within the area. Understanding these differences can be crucial for property owners, as it impacts annual tax bills and overall property costs. By being informed, property owners can better navigate the financial landscape and potentially seek tax appeal or exemption services to manage their expenses.

Property Tax Rates Across Cincinnatus, Cortland County, New York

Source: Ownwell

1.90%

2.94%

3.97%

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

3.24%

Median Effective Cortland County Tax Rate

3.26%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cincinnatus, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13040	1.33%	1.69%	3.24%	3.40%	3.52%

Source: Ownwell

Property Tax Assessment Values Across Cincinnatus, Cortland 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 Cortland 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 Cortland 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 $91,142, with tax bills ranging significantly across the county. 13040 has the highest median home price at $91,142.

Property Tax Assessment Values Across Cincinnatus, Cortland County, New York

Source: Ownwell

$78,089

$126,995

$175,901

Median Cincinnatus Market Value

$91,142

Median Cortland County Market Value

$117,179

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cincinnatus, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13040	$31,960	$55,710	$91,142	$134,290	$204,500

Source: Ownwell

Property Tax Bills Across Cincinnatus, Cortland County, New York

In Cincinnatus, part of Cortland County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Cincinnatus face a range of property tax bills, with the 25th percentile at $1,298 and the 75th percentile at $3,929. This means that many homeowners pay more than the national median property tax bill of $2,400. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For homeowners, these taxes can represent a significant financial burden, especially if their property value has increased. Ownwell offers a solution by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By leveraging expertise in property valuations and local tax regulations, Ownwell can identify discrepancies in assessments and secure savings for homeowners, ensuring they pay only their fair share.

Property Tax Bills Across Cincinnatus, Cortland County, New York

Source: Ownwell

$1,363

$3,373

$5,382

Median Cincinnatus Tax Bill

$2,401

Median Cortland County Tax Bill

$3,928

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Cincinnatus, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13040	$655	$1,298	$2,401	$3,929	$6,197

Source: Ownwell