Richford, Cortland County, New York Property Taxes

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

Median Richford, NY effective property tax rate: 3.97%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Richford, NY home value: $108,000
Median annual Richford, NY tax bill: $3,736, $1,336 higher than the national median property tax bill of $2,400.

How are property taxes in Cortland calculated?

Property taxes in Richford, 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 Richford's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richford, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richford, Cortland County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.97%

Estimate Property Tax Bill

$4,288

$3,979

Ownwell’s Richford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richford with just two data points. By entering your property's estimated assessed value, our calculator applies Richford’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 Richford, Cortland County, New York

Local government entities determine property tax rates, which can differ significantly within a state. This variation is due to each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is essentially the annual process. In Richford, located in Cortland County, New York, the effective property tax rate is notably higher than both the state and national medians. New York's median property tax rate is already above the national average, which makes Richford's rate particularly significant. This high rate reflects the local government's budgetary needs and the total assessed value of property in the area. For property owners in Richford, understanding these rates is crucial for financial planning and exploring potential tax appeal and exemption opportunities. Comparing Richford’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S. can provide valuable insights for homeowners.

Property Tax Rates Across Richford, 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 Richford Tax Rate

3.97%

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 Richford, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13835	1.90%	3.23%	3.97%	4.03%	4.03%

Source: Ownwell

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

When examining property taxes in Richford, 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 Richford.

For example, the median home price in Richford is $108,000, with tax bills ranging significantly across the county. Zip code 13835 has the highest median home price at $108,000.

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

Source: Ownwell

$78,089

$126,995

$175,901

Median Richford Market Value

$108,000

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 Richford, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13835	$51,000	$73,300	$108,000	$137,500	$229,000

Source: Ownwell

Property Tax Bills Across Richford, Cortland County, New York

In Richford, NY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as location, home size, and market conditions can influence the assessed value. Homeowners in Richford face property tax bills that can vary widely, with the 25th percentile at $2,393 and the 75th percentile reaching $5,233. This variation highlights the importance of understanding how assessments work and ensuring they are accurate. With a median home price of $108,000, property taxes can be a significant expense for homeowners, often exceeding the national median tax bill of $2,400. Ownwell offers valuable assistance by providing expert property tax appeal and exemption services. By reviewing assessments and identifying potential inaccuracies, Ownwell can help homeowners reduce their tax burden, ensuring they only pay their fair share and potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Richford, Cortland County, New York

Source: Ownwell

$1,363

$3,373

$5,382

Median Richford Tax Bill

$3,736

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 Richford, Cortland County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13835	$1,555	$2,393	$3,736	$5,233	$8,711

Source: Ownwell