Fulton, New York Property Taxes
The median property tax rate in Fulton, NY is 2.86%, 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 Fulton, the typical annual property tax bill reaches $5,405, exceeding the national median of $2,690. Property taxes in Fulton 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 Fulton'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 Fulton 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
Fulton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.86%
Estimate Property Tax Bill
$5,324
$4,940
Ownwell’s Fulton Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fulton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fulton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Fulton, New York
Property taxes in Fulton, NY, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulton is 2.86%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulton 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 Fulton's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13069 has the highest median property tax rate of 2.86%, while the lowest median tax rate is also 2.86% in the same zip code. Understanding how these cities compare with Fulton provides valuable insights into the varying tax landscape across Onondaga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fulton Tax Rate
2.86%
Average Onondaga County Tax Rate
3.38%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13069 | 2.70% | 2.85% | 2.86% | 2.87% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, New York
In Fulton, 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 Fulton, 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 Fulton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 13069, with a median tax bill of $5,405, while the lowest median tax bill is also in zip code 13069, with the same value.
Average Fulton Assessed Value
$186,150
Average Onondaga County Assessed Value
$152,577
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fulton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13069 | $69,570 | $140,250 | $186,150 | $219,300 | $264,180 |
Source: Ownwell
Property Tax Bills Across Fulton, New York
In Fulton, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, determined by the local assessor. The tax rate is set by local taxing authorities and varies depending on budgetary needs. Homeowners in Fulton experience a range of tax bills, with the 25th percentile paying around $3,826 while those in the 75th percentile pay approximately $6,292. The 90th percentile sees bills as high as $7,389. Compared to the national median property tax rate of 0.99%, Fulton's property tax rates can result in significantly higher tax bills. For instance, the median home price in Fulton is $186,150, which means that even at the lower end, homeowners are paying a substantial amount in property taxes. This can significantly impact household budgets, making it essential for homeowners to understand how their tax bills are calculated and explore any available exemptions to potentially reduce their burden.
Average Fulton Tax Bill
$5,405
Average Onondaga County Tax Bill
$5,213
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13069 | $1,928 | $3,826 | $5,405 | $6,292 | $7,389 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Onondaga Assessment Review Commission | |
| Website | onondaga.go2gov.net |