Cooperstown, New York Property Taxes
The median property tax rate in Cooperstown, NY is 0.38%, considerably lower than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Cooperstown at $242,300, the typical annual property tax bill reaches $1,028, well below the national median of $2,690. Property taxes in Cooperstown 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 Cooperstown'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 Cooperstown 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
Cooperstown, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$921
$854
Ownwell’s Cooperstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cooperstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cooperstown 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 Cooperstown, New York
Property taxes in Cooperstown, New York, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cooperstown is 0.38%, significantly lower than both the New York state median of 1.69% and the U.S. national median of 0.99%. Local government entities within Cooperstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cooperstown 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 Cooperstown's effective property tax rate to other counties in New York and the national median. For comparison, the highest median property tax rate in New York is 2.47%, while the lowest median tax rate is 0.38%. Understanding how these cities compare with Cooperstown provides valuable insights into the varying tax landscape across Otsego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cooperstown Tax Rate
0.38%
Average Otsego County Tax Rate
0.66%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cooperstown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13326 | 0.33% | 0.34% | 0.38% | 0.52% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Cooperstown, New York
In Cooperstown, 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 Otsego County Assessment Office 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 Cooperstown, 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 Cooperstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 13326 has the highest median tax bill at $1,028, which is significantly above the national median property tax rate of 0.99%.
Average Cooperstown Assessed Value
$242,300
Average Otsego County Assessed Value
$130,728
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cooperstown, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13326 | $86,182 | $154,164 | $242,300 | $366,434 | $549,746 |
Source: Ownwell
Property Tax Bills Across Cooperstown, New York
In Cooperstown, located in Otsego County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $242,300. The property tax bill for a home in the 25th percentile is approximately $740, while those in the 75th percentile pay around $1503. For properties in the 90th percentile, the tax bill can reach up to $2014. The highest median tax bill recorded in the area is $1028, and this figure is consistent across the zip code 13326. Several factors influence the property tax bill, including the assessed value of the property, which is determined by the local assessor's office. This value is then multiplied by the local tax rate, which can vary annually based on municipal budget needs and school funding requirements. Homeowners in Cooperstown may find that their property tax bills are relatively aligned with the national median property tax rate of 0.99%, impacting their overall housing costs and financial planning.
Average Cooperstown Tax Bill
$1,028
Average Otsego County Tax Bill
$1,051
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Cooperstown, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13326 | $526 | $740 | $1,028 | $1,503 | $2,014 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Otsego Assessment Review Commission | |
| Website | otsegocountygis.mapxpress.net |