Frankfort, Herkimer County, New York Property Taxes
Median Frankfort, NY effective property tax rate: 1.04%, slightly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Frankfort, NY home value: $118,034
Median annual Frankfort, NY tax bill: $1,321, $1,079 lower than the national median property tax bill of $2,400.
How are property taxes in Herkimer calculated?
Property taxes in Frankfort, 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 Frankfort’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Frankfort, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Frankfort, Herkimer County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.04%
Estimate Property Tax Bill
$1,228
$1,139
Property Tax Rates Across Frankfort, Herkimer County, New York
Local government entities in New York set tax rates, which can vary widely within the state. This variation is due to each county's annual process of 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 the annual process in a nutshell.
In Frankfort, located in Herkimer County, the effective property tax rate stands at 1.04%. This rate is slightly above the national median property tax rate of 1.02%. However, it aligns with the median property tax rate for New York, which is also 1.04%. This consistency across the state reflects New York's approach to property taxation, ensuring that residents in Frankfort and other areas are subject to similar tax obligations. Understanding these rates can help property owners in Frankfort make informed decisions about their tax liabilities and explore potential savings through property tax appeals or exemptions.
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 Frankfort Tax Rate
1.04%
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 Herkimer County Tax Rate
1.09%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Frankfort, Herkimer County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13340 | 0.85% | 0.85% | 1.04% | 1.14% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Frankfort, Herkimer County, New York
When examining property taxes in Frankfort, 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 Herkimer 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 Herkimer 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 Frankfort. For example, the median home price in Frankfort is $118,034, with tax bills ranging significantly across the county. Zip code 13340 has the highest median home price at $118,034.
Property Tax Assessment Values Across Frankfort, Herkimer County, New York
Source: Ownwell
$73,770
$143,696
$213,621
Median Frankfort Market Value
$118,034
Median Herkimer County Market Value
$101,125
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Frankfort, Herkimer County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13340 | $63,793 | $89,655 | $118,034 | $167,673 | $233,017 |
Source: Ownwell
Property Tax Bills Across Frankfort, Herkimer County, New York
Median Frankfort Tax Bill
$1,321
Median Herkimer County Tax Bill
$1,150
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Frankfort, Herkimer County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13340 | $609 | $874 | $1,321 | $1,969 | $2,839 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Herkimer Assessment Review Commission | |
| Website | app.regrid.com |