Altmar, New York Property Taxes
The median property tax rate in Altmar, 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 Altmar at $89,888, the typical annual property tax bill reaches $2,232, which is below the national median of $2,690. Property taxes in Altmar 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 Altmar'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 Altmar or another part of Oswego County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Altmar, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$2,346
$2,320
Ownwell’s Altmar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Altmar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Altmar 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 Altmar, New York
Property taxes in Altmar, 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 Altmar 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 Altmar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Altmar 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 Altmar's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 13302 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 Altmar provides valuable insights into the varying tax landscape across Oswego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Altmar Tax Rate
2.61%
Average Oswego County Tax Rate
2.93%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Altmar, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13302 | 2.25% | 2.41% | 2.61% | 2.67% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Altmar, New York
In Altmar, 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 Oswego 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 Altmar, 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 Altmar is $89,888, with tax bills ranging from $1,275 at the 25th percentile to $4,397 at the 90th percentile. The zip code with the highest and lowest median tax bill is 13302, both at $2,232. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Altmar Assessed Value
$89,888
Average Oswego County Assessed Value
$108,696
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Altmar, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13302 | $32,000 | $53,419 | $89,888 | $129,227 | $172,820 |
Source: Ownwell
Property Tax Bills Across Altmar, New York
In Altmar, located in Oswego County, NY, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's worth, which is then multiplied by the tax rate to calculate the annual tax bill. For homeowners in Altmar, the median home price is $89,888. Tax bills can vary significantly, with the 25th percentile at $1,275 and the 75th percentile reaching $3,257. At the 90th percentile, homeowners might see bills as high as $4,397. These variations are influenced by factors such as property size, improvements, and location within the city. Compared to the national median property tax rate of 0.99%, the tax rates in Altmar can lead to higher or lower tax bills depending on the specific assessed value of the property. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Altmar Tax Bill
$2,232
Average Oswego County Tax Bill
$3,405
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Altmar, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13302 | $758 | $1,275 | $2,232 | $3,257 | $4,397 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Oswego Assessment Review Commission | |
| Website | oswegogis.maps.arcgis.com |