Marcy, New York Property Taxes
The median property tax rate in Marcy, NY is 2.61%, 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 Marcy at $153,226, the typical annual property tax bill reaches $3,159, exceeding the national median of $2,690. Property taxes in Marcy 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 Marcy'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 Marcy 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
Marcy, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$3,999
$3,954
Ownwell’s Marcy Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marcy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marcy 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marcy, New York
Property taxes in Marcy, 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 Marcy is 2.61%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Marcy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marcy 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 Marcy's effective property tax rate to other counties in New York and the national median. For comparison, the 13403 zip code has the highest median property tax rate of 2.61%, while the same zip code also has the lowest median tax rate of 2.61%. Understanding how these cities compare with Marcy provides valuable insights into the varying tax landscape across Oneida County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marcy Tax Rate
2.61%
Average Oneida County Tax Rate
2.27%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marcy, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13403 | 0.79% | 0.82% | 2.61% | 2.75% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Marcy, New York
In Marcy, 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 Oneida County 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 Marcy, 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 Marcy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marcy stands at $153,226, with the highest median tax bill recorded at $3,159 in the 13403 zip code.
Average Marcy Assessed Value
$153,226
Average Oneida County Assessed Value
$126,923
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marcy, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13403 | $103,226 | $125,806 | $153,226 | $208,065 | $284,122 |
Source: Ownwell
Property Tax Bills Across Marcy, New York
In Marcy, located in Oneida 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 annual tax bill. For homeowners in Marcy, the median home price stands at $153,226. Property tax bills in the area vary significantly, with the 25th percentile at $1,214 and the 75th percentile at $5,074. The 90th percentile tax bill can reach up to $7,322. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, highlighting that Marcy's tax rates can be relatively high. This disparity can significantly impact homeowners, especially those with higher-valued properties, leading to substantial annual tax bills. Understanding these factors is crucial for homeowners to anticipate and manage their property tax liabilities effectively.
Average Marcy Tax Bill
$3,159
Average Oneida County Tax Bill
$2,574
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Marcy, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13403 | $918 | $1,214 | $3,159 | $5,074 | $7,322 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Oneida Assessment Review Commission | |
| Website | app.regrid.com |