Richfield Springs, Otsego County, New York Property Taxes

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

Median Richfield Springs, NY effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Richfield Springs, NY home value: $120,494
Median annual Richfield Springs, NY tax bill: $940, $1,460 lower than the national median property tax bill of $2,400.

How are property taxes in Otsego calculated?

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

Last Updated March 1, 2025

Richfield Springs, Otsego County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.38%

Estimate Property Tax Bill

$458

$425

Ownwell’s Richfield Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richfield Springs with just two data points. By entering your property's estimated assessed value, our calculator applies Richfield Springs’ 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 Richfield Springs, Otsego County, New York

Local government entities determine tax rates, which can vary significantly within a state due to the differing needs and budgets of each county. Each year, counties estimate the budget required to maintain essential services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. This process, while influenced by votes and legislation, fundamentally boils down to this annual calculation.

In Richfield Springs, located in Otsego County, the effective property tax rate is 0.38%, which is notably lower than both the New York state median and the national median property tax rate of 1.02%. This lower rate can result in significant savings for property owners compared to other regions. Understanding these differences is crucial for property owners considering where to invest or reside, as property tax rates directly impact overall living costs. Comparing Richfield Springs' effective tax rate with other cities in New York and across the U.S. highlights its relative affordability, making it an attractive option for potential homeowners seeking lower property tax liabilities.

Property Tax Rates Across Richfield Springs, 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 Richfield Springs Tax Rate

0.38%

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 Richfield Springs, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13439	0.24%	0.29%	0.38%	0.47%	0.52%

Source: Ownwell

Property Tax Assessment Values Across Richfield Springs, Otsego County, New York

When examining property taxes in Richfield Springs, 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. 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 Richfield Springs. For example, the median home price in Richfield Springs is $120,494, with tax bills ranging significantly across the county. 13439 has the highest median home price at $120,494.

Property Tax Assessment Values Across Richfield Springs, Otsego County, New York

Source: Ownwell

$80,943

$161,622

$242,300

Median Richfield Springs Market Value

$120,494

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 Richfield Springs, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13439	$47,321	$82,192	$120,494	$191,358	$283,559

Source: Ownwell

Property Tax Bills Across Richfield Springs, Otsego County, New York

In Richfield Springs, Otsego County, NY, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in this area is $120,494, with the property tax rate contributing to a tax bill range from $837 at the 25th percentile to $1,105 at the 90th percentile. This range highlights the variability in tax bills depending on the assessed value and specific location within the city. The median tax bill in the region is $940, which is below the national median property tax bill of $2,400. Homeowners in Richfield Springs may find their property taxes more manageable compared to other areas in the country, but they can still benefit from potential savings. Ownwell offers a valuable service by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By reviewing assessments and identifying discrepancies, Ownwell can assist homeowners in ensuring they are not overpaying on their property taxes, leading to significant savings.

Property Tax Bills Across Richfield Springs, Otsego County, New York

Source: Ownwell

$638

$1,012

$1,386

Median Richfield Springs Tax Bill

$940

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 Richfield Springs, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13439	$776	$837	$940	$1,043	$1,105

Source: Ownwell

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Dates

Links
Otsego Assessment Review Commission
Website	otsegocountygis.mapxpress.net