Carthage, New York Property Taxes
The median property tax rate in Carthage, NY is 2.03%, 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 Carthage, the typical annual property tax bill reaches $2,758, exceeding the national median of $2,690. Property taxes in Carthage 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 Carthage'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 Carthage 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
Carthage, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$2,436
$2,409
Ownwell’s Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Jefferson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Carthage, New York
Property taxes in Carthage, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 2.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage 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. For comparison, the zip code 13619 has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with Carthage provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
2.03%
Average Jefferson County Tax Rate
1.81%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13619 | 1.86% | 1.93% | 2.03% | 2.65% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, New York
In Carthage, 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 Jefferson County Assessor's Office 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 Carthage, 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. For instance, the median home price in Carthage is $120,000, with tax bills ranging from $1,898 at the 25th percentile to $4,735 at the 90th percentile. Notably, the highest and lowest median tax bills are both $2,758 in the 13619 zip code. 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 Carthage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carthage Assessed Value
$120,000
Average Jefferson County Assessed Value
$134,468
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13619 | $52,000 | $84,900 | $120,000 | $163,725 | $228,160 |
Source: Ownwell
Property Tax Bills Across Carthage, New York
In Carthage, Jefferson County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $120,000 in Carthage, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,898, while those in the 75th percentile see bills closer to $3,696. At the 90th percentile, the tax bill can reach up to $4,735. The highest and lowest median tax bills in Carthage are both $2,758, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for Carthage residents. Homeowners must consider these factors when budgeting for annual expenses.
Average Carthage Tax Bill
$2,758
Average Jefferson County Tax Bill
$2,407
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13619 | $1,112 | $1,898 | $2,758 | $3,696 | $4,735 |
Source: Ownwell