Wells Bridge, Otsego County, New York Property Taxes
Median Wells Bridge, NY effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the NY state median of 2.39%.
Median Wells Bridge, NY home value: $94,717
Median annual Wells Bridge, NY tax bill: $876, $1,524 lower than the national median property tax bill of $2,400.
How are property taxes in Otsego calculated?
Property taxes in Wells Bridge, 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 Wells Bridge’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wells Bridge, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wells Bridge, Otsego County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.75%
Estimate Property Tax Bill
$710
$659
Property Tax Rates Across Wells Bridge, Otsego County, New York
Local government entities are responsible for setting property tax rates, which can vary significantly within New York. Each county, including Otsego, estimates its budgetary needs annually to determine the funds required for public services. This budget is divided by the total assessed value of all taxable properties within the county, resulting in the property tax rate. While the process involves votes and legislative decisions, this annual calculation is the core method for determining rates.
Wells Bridge, located in Otsego County, has an effective property tax rate that reflects this process. When comparing Wells Bridge’s rate to other cities in New York, it's important to consider that the median property tax rate in the state is 0.75%, which is below the national median rate of 1.02%. This means that property owners in Wells Bridge might enjoy lower tax rates compared to many other regions in the U.S. Understanding these differences can help property owners better navigate their tax responsibilities and seek potential savings through appeals or exemptions.
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 Wells Bridge Tax Rate
0.75%
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 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 Wells Bridge, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13859 | 0.67% | 0.74% | 0.75% | 0.78% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Wells Bridge, Otsego County, New York
When examining property taxes in Wells Bridge, 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 Wells Bridge. For example, the median home price in Wells Bridge is $94,717, with tax bills ranging significantly across the county. Zip code 13859 has the highest median home price at $94,717.
Property Tax Assessment Values Across Wells Bridge, Otsego County, New York
Source: Ownwell
$80,943
$161,622
$242,300
Median Wells Bridge Market Value
$94,717
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 Wells Bridge, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13859 | $62,905 | $73,208 | $94,717 | $122,830 | $151,056 |
Source: Ownwell
Property Tax Bills Across Wells Bridge, Otsego County, New York
Median Wells Bridge Tax Bill
$876
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 Wells Bridge, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13859 | $554 | $603 | $876 | $1,051 | $1,167 |
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 |