Minoa, New York Property Taxes
The median property tax rate in Minoa, NY is 4.02%, significantly higher than both the national median of 0.99% and New York's state median of 2.39%. With a median home value of $152,700 in Minoa, the typical annual property tax bill reaches $6,055, far exceeding the national median of $2,690. Property taxes in Minoa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Minoa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Minoa or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Minoa, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.02%
Estimate Property Tax Bill
$6,139
$5,696
Ownwell’s Minoa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minoa 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 Minoa, New York
Property taxes in Minoa, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minoa is 4.02%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Minoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minoa 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 Minoa's effective property tax rate to other counties in New York and the national median. For comparison, the 13116 zip code has both the highest and lowest median property tax rate of 4.02%. Understanding how these cities compare with Minoa 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 Minoa Tax Rate
4.02%
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 Minoa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13116 | 3.83% | 4.02% | 4.02% | 4.02% | 4.02% |
Source: Ownwell
Property Tax Assessment Values Across Minoa, New York
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Minoa, New York. 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 Onondaga 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 Minoa, 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. The median home price in Minoa is $152,700, with the 25th percentile tax bill at $5,055 and the 75th percentile tax bill at $7,222. The highest and lowest median tax bills are both $6,055, found in the zip code 13116. 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 Minoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Minoa Assessed Value
$152,700
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 Minoa, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13116 | $104,650 | $128,675 | $152,700 | $183,925 | $247,650 |
Source: Ownwell
Property Tax Bills Across Minoa, New York
In Minoa, located in Onondaga County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The average home price in Minoa is $152,700, and homeowners can expect varying tax bills depending on their property's assessed value. Factors such as property size, location, and improvements can influence the assessed value, which in turn impacts the tax bill. In Minoa, the tax bill at the 25th percentile is $5,055, while at the 75th percentile, it rises to $7,222. The 90th percentile sees tax bills reaching as high as $9,888. These figures indicate that property taxes in Minoa can be significantly higher than the national median property tax rate of 0.99%. This higher tax rate can affect homeowners by increasing their annual expenses, potentially making it more challenging to budget for other financial needs. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Minoa Tax Bill
$6,055
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 Minoa, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13116 | $4,132 | $5,055 | $6,055 | $7,222 | $9,888 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Onondaga Assessment Review Commission | |
| Website | onondaga.go2gov.net |