Mount Upton, New York Property Taxes
The median property tax rate in Mount Upton, NY is 0.69%, 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 Mount Upton at $105,094, the typical annual property tax bill reaches $639, significantly less than the national median of $2,690. Property taxes in Mount Upton 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 Mount Upton'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 Mount Upton 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
Mount Upton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$725
$673
Ownwell’s Mount Upton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Upton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Upton 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 Mount Upton, New York
Property taxes in Mount Upton, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Upton is 0.69%, lower than both the New York state median and the U.S. national median of 0.99%. Local government entities within Mount Upton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Upton 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 Mount Upton's effective property tax rate to other counties in New York and the national median. For comparison, the 13809 zip code has the same median property tax rate of 0.69%. Understanding how these cities compare with Mount Upton 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 Mount Upton Tax Rate
0.69%
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 Mount Upton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13809 | 0.65% | 0.68% | 0.69% | 0.71% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Mount Upton, New York
In Mount Upton, 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 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 Mount Upton, 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 Mount Upton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Upton is $105,094, with median tax bills ranging from $435 at the 25th percentile to $1,004 at the 90th percentile. The zip code 13809 has both the highest and lowest median tax bill at $639.
Average Mount Upton Assessed Value
$105,094
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 Mount Upton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13809 | $41,471 | $68,491 | $105,094 | $151,509 | $196,723 |
Source: Ownwell
Property Tax Bills Across Mount Upton, New York
In Mount Upton, located in Otsego County, NY, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is a percentage of the property's market value. Homeowners in Mount Upton can expect their property tax bill to vary significantly based on the assessed value of their homes. For instance, the tax bill at the 25th percentile is $435, while at the 75th percentile, it rises to $866. At the 90th percentile, homeowners might see tax bills as high as $1004. The median home price in the area is $105,094, and the median tax bill is $639. This figure is relatively lower compared to the national median property tax rate of 0.99%. These property tax bills help fund local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual financial obligations and plan accordingly.
Average Mount Upton Tax Bill
$639
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 Mount Upton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13809 | $280 | $435 | $639 | $866 | $1,004 |
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 |