Milford, Otsego County, New York Property Taxes

Name: Property Tax Bills Across Milford, Otsego County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Milford, NY effective property tax rate: 0.62%, significantly lower than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Milford, NY home value: $156,150
Median annual Milford, NY tax bill: $1,134, $1,266 lower than the national median property tax bill of $2,400.

How are property taxes in Otsego calculated?

Property taxes in Milford, NY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Milford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milford, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Milford, Otsego County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.62%

Estimate Property Tax Bill

$968

$898

Ownwell’s Milford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milford with just two data points. By entering your property's estimated assessed value, our calculator applies Milford’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Otsego County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Milford, Otsego County, New York

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Milford’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S.

Property Tax Rates Across Milford, Otsego County, New York

Source: Ownwell

0.38%

1.02%

1.65%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Milford Tax Rate

0.62%

Median Effective Otsego County Tax Rate

0.66%

Median Effective New York Tax Rate

2.39%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Milford, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13807	0.59%	0.62%	0.62%	0.63%	0.65%

Source: Ownwell

Property Tax Assessment Values Across Milford, Otsego County, New York

When examining property taxes in Milford, NY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Otsego County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Otsego County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Milford. For example, the median home price in Milford is $156,150, with tax bills ranging significantly across the county. Zip code 13807 has the highest median home price at $156,150.

Property Tax Assessment Values Across Milford, Otsego County, New York

Source: Ownwell

$80,943

$161,622

$242,300

Median Milford Market Value

$156,150

Median Otsego County Market Value

$130,728

Median New York Market Value

$255,644

Median United States Market Value

$235,294

Property Tax Assessment Values Across Milford, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13807	$63,035	$105,460	$156,150	$213,025	$283,213

Source: Ownwell

Property Tax Bills Across Milford, Otsego County, New York

In Milford, Otsego County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the tax bill. Homeowners in Milford face property tax bills that can vary significantly. For example, the 25th percentile tax bill is $729, while the 75th percentile reaches $1,547, and the 90th percentile is $2,086. With the national median property tax bill at $2,400, Milford's tax bills are relatively moderate, but they still represent a substantial expense for homeowners. Factors such as changes in property value and local tax rate adjustments can impact these bills. Ownwell offers valuable assistance to homeowners by providing expert property tax appeal and exemption services. By analyzing individual property assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax burden, ensuring they pay only what is necessary. This can lead to significant savings and financial relief for Milford residents.

Property Tax Bills Across Milford, Otsego County, New York

Source: Ownwell

$638

$1,012

$1,386

Median Milford Tax Bill

$1,134

Median Otsego County Tax Bill

$1,051

Median New York Tax Bill

$5,938

Median United States Tax Bill

$2,400

Property Tax Bills Across Milford, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13807	$453	$729	$1,134	$1,547	$2,086

Source: Ownwell

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Dates

Links
Otsego Assessment Review Commission
Website	otsegocountygis.mapxpress.net