Mallory, New York Property Taxes
The median property tax rate in Mallory, NY is 2.84%, 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 Mallory at $115,625, the typical annual property tax bill reaches $3,403, far exceeding the national median of $2,690. Property taxes in Mallory are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mallory'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 Mallory 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
Mallory, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.84%
Estimate Property Tax Bill
$3,284
$3,247
Ownwell’s Mallory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mallory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mallory 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 Mallory, New York
Property taxes in Mallory, 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 Mallory is 2.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mallory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mallory 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 Mallory's effective property tax rate to other areas in Oswego County and the national median. For comparison, the 13103 zip code has both the highest and lowest median property tax rate of 2.84%. Understanding how these areas compare with Mallory 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 Mallory Tax Rate
2.84%
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 Mallory, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13103 | 2.59% | 2.84% | 2.84% | 2.94% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Mallory, New York
In Mallory, 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 Mallory, 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 Mallory 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 13103, with a median tax bill of $3403.
Average Mallory Assessed Value
$115,625
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 Mallory, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13103 | $25,635 | $79,250 | $115,625 | $151,782 | $196,262 |
Source: Ownwell
Property Tax Bills Across Mallory, New York
In Mallory, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Mallory is $115,625. Homeowners in Mallory can expect their property tax bills to vary significantly, with the 25th percentile paying around $2,085 and the 75th percentile paying up to $4,420. High-end properties, represented by the 90th percentile, can see tax bills as high as $5,573. Factors such as property size, location, and improvements play a crucial role in the assessed value, impacting the final tax bill. Compared to the national median property tax rate of 0.99%, Mallory's rates can be relatively high, affecting homeowners by increasing their annual housing costs. It's essential for homeowners to understand these factors to manage their budgets effectively and explore potential exemptions or appeals to reduce their tax burdens.
Average Mallory Tax Bill
$3,403
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 Mallory, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13103 | $785 | $2,085 | $3,403 | $4,420 | $5,573 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Oswego Assessment Review Commission | |
| Website | oswegogis.maps.arcgis.com |