Medusa, New York Property Taxes
The median property tax rate in Medusa, NY is 2.54%, 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 Medusa at $244,900, the typical annual property tax bill reaches $5,658, exceeding the national median of $2,690. Property taxes in Medusa are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Medusa'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 Medusa 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
Medusa, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.54%
Estimate Property Tax Bill
$6,220
$5,772
Ownwell’s Medusa Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Medusa with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Medusa to provide an estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Greene County for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Medusa, New York
Property taxes in Medusa, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Medusa is 2.54%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Medusa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Medusa 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 Medusa's effective property tax rate to other counties in New York and the national median. For comparison, the highest median property tax rate in Greene County is also 2.54%, while the lowest median tax rate is 2.54%. Understanding how these cities compare with Medusa provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Medusa Tax Rate
2.54%
Average Greene County Tax Rate
2.04%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | 2.15% | 2.32% | 2.54% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Medusa, New York
In Medusa, 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 local 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 Medusa, 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. 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 in Medusa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Medusa is $5,658 in zip code 12120, while the lowest median tax bill is also $5,658 in the same zip code.
Average Medusa Assessed Value
$244,900
Average Greene County Assessed Value
$210,370
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | $207,250 | $214,950 | $244,900 | $389,150 | $509,850 |
Source: Ownwell
Property Tax Bills Across Medusa, New York
In Medusa, Greene County, NY, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and is intended to reflect the market value of the home. For instance, the median home price in Medusa is $244,900. Homeowners can expect their tax bills to vary significantly based on their property's assessed value and the specific tax rate applied by local taxing authorities. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. For example, tax bills in Medusa range from the 25th percentile at $5,493 to the 90th percentile at $9,656, with a median property tax bill of $5,658. This is considerably higher than the national median property tax rate of 0.99%. Higher property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning.
Average Medusa Tax Bill
$5,658
Average Greene County Tax Bill
$4,183
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Medusa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12120 | $5,311 | $5,493 | $5,658 | $7,128 | $9,656 |
Source: Ownwell