Munnsville, New York Property Taxes
The median property tax rate in Munnsville, NY is 2.80%, significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Munnsville at $130,278, the typical annual property tax bill reaches $3,087, exceeding the national median of $2,690. Property taxes in Munnsville 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 Munnsville'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 Munnsville 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
Munnsville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$3,648
$3,385
Ownwell’s Munnsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Munnsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Munnsville 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 Munnsville, New York
Property taxes in Munnsville, 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 Munnsville is 2.80%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Munnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Munnsville 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 Munnsville's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13409 has the highest median property tax rate of 2.80%, while the same zip code also has the lowest median tax rate of 2.80%. Understanding how these cities compare with Munnsville 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 Munnsville Tax Rate
2.80%
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 Munnsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13409 | 1.09% | 1.70% | 2.80% | 2.81% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across Munnsville, New York
In Munnsville, 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 Munnsville, 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 Munnsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $3,087 in zip code 13409, significantly higher than the national median property tax rate of 0.99%.
Average Munnsville Assessed Value
$130,278
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 Munnsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13409 | $66,370 | $95,324 | $130,278 | $173,926 | $295,889 |
Source: Ownwell
Property Tax Bills Across Munnsville, New York
Property tax bills in Munnsville, located in Oneida County, NY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, considering factors such as property size, location, and market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Homeowners in Munnsville can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,975, while the 75th percentile tax bill is approximately $4,292. Those in the 90th percentile face tax bills as high as $7,233. This range reflects the diversity in property values and sizes within the area. Compared to the national median property tax rate of 0.99%, Munnsville's tax rates can significantly impact homeowners. Higher tax bills can affect household budgets, making it crucial for homeowners to understand how their property is assessed and explore potential exemptions or appeals to manage their expenses effectively.
Average Munnsville Tax Bill
$3,087
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 Munnsville, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13409 | $1,082 | $1,975 | $3,087 | $4,292 | $7,233 |
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 |