Tompkins County Property Taxes
The median property tax rate in Tompkins County is 2.79%, which is significantly higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Tompkins County at $225,000, the typical annual property tax bill reaches $6,186, far exceeding the national median of $2,690. Property taxes in Tompkins County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Tompkins County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Ithaca or another part of Tompkins County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tompkins County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.79%
Estimate Property Tax Bill
$6,278
$5,825
Ownwell’s Tompkins County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Tompkins County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Tompkins County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Tompkins County, New York
Property taxes in Tompkins County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Tompkins County is 2.79%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Tompkins County set these rates annually, and they can vary significantly between different areas within the county. Each year, Tompkins County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Dryden has one of the higher property tax rates in the area at 3.22%, while the city of Brooktondale boasts one of the lowest at 2.43%. Analyzing how Tompkins County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Tompkins County Tax Rate
2.79%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tompkins County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berkshire | 1.45% | 2.23% | 2.63% | 2.82% | 2.87% |
| Brooktondale | 0.96% | 1.72% | 2.43% | 2.66% | 2.72% |
| Cortland | 1.94% | 2.57% | 2.88% | 3.29% | 3.33% |
| Dryden | 2.28% | 2.90% | 3.22% | 3.77% | 4.04% |
| Etna | 2.30% | 2.78% | 2.91% | 3.25% | 3.29% |
| Freeville | 1.91% | 2.64% | 2.96% | 3.22% | 3.29% |
| Groton | 1.63% | 2.40% | 2.90% | 3.14% | 3.77% |
| Ithaca | 2.32% | 2.62% | 2.86% | 3.17% | 3.50% |
| Jacksonville | 1.53% | 2.06% | 2.94% | 3.11% | 3.21% |
| Lansing | 1.84% | 2.58% | 2.89% | 2.97% | 3.04% |
| Locke | 0.92% | 1.80% | 2.45% | 2.70% | 2.94% |
| Mclean | 2.96% | 2.96% | 2.96% | 2.96% | 2.96% |
| Mc Lean | 2.21% | 2.53% | 2.91% | 3.33% | 3.37% |
| Newfield | 2.54% | 2.68% | 2.70% | 2.77% | 2.87% |
| Slaterville Springs | 1.97% | 2.33% | 2.63% | 2.66% | 2.71% |
| Spencer | 2.41% | 2.59% | 2.78% | 2.90% | 3.02% |
| Trumansburg | 1.63% | 2.27% | 2.53% | 2.88% | 3.13% |
| Willseyville | 1.73% | 2.40% | 2.67% | 2.78% | 2.82% |
Source: Ownwell
Property Tax Assessment Values Across Tompkins County, New York
In Tompkins County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Tompkins County Appraisal District. The assessed value, however, 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. Assessment notices in Tompkins County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Tompkins County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Ithaca has the highest median tax bill at $8,089, while Berkshire has the lowest at $3,246.
Property Tax Assessment Values Across Tompkins County, New York
Source: Ownwell
$118,000
$196,500
$275,000
Average Tompkins County Assessed Value
$225,000
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tompkins County, New York
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berkshire | $41,200 | $78,000 | $127,500 | $205,000 | $285,000 |
| Brooktondale | $38,000 | $99,250 | $165,000 | $225,000 | $295,000 |
| Cortland | $67,000 | $104,500 | $152,000 | $185,000 | $230,200 |
| Dryden | $115,000 | $152,000 | $184,000 | $230,750 | $284,000 |
| Etna | $87,500 | $130,000 | $169,000 | $210,000 | $265,000 |
| Freeville | $79,000 | $126,000 | $175,000 | $230,000 | $297,000 |
| Groton | $69,300 | $100,000 | $139,000 | $189,000 | $273,000 |
| Ithaca | $150,000 | $205,000 | $275,000 | $370,000 | $480,000 |
| Jacksonville | $103,400 | $120,500 | $135,000 | $186,250 | $269,500 |
| Lansing | $102,400 | $165,000 | $215,000 | $309,000 | $455,000 |
| Locke | $86,000 | $126,000 | $170,500 | $236,000 | $308,000 |
| Mclean | $191,000 | $191,000 | $191,000 | $191,000 | $191,000 |
| Mc Lean | $60,500 | $100,500 | $118,000 | $148,750 | $172,700 |
| Newfield | $55,000 | $115,000 | $155,000 | $210,000 | $280,000 |
| Slaterville Springs | $109,500 | $150,000 | $170,000 | $225,000 | $366,500 |
| Spencer | $82,500 | $135,000 | $175,000 | $244,250 | $337,500 |
| Trumansburg | $118,500 | $162,000 | $216,000 | $286,000 | $378,000 |
| Willseyville | $69,500 | $115,000 | $173,500 | $225,000 | $295,000 |
Source: Ownwell
Property Tax Bills Across Tompkins County, New York
In Tompkins County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made to the property. Homeowners in Tompkins County face varying tax bills depending on these assessments. The tax bill at the 25th percentile is $3,980, while at the 75th percentile, it rises to $9,203, and at the 90th percentile, it reaches $12,645. The city of Ithaca has the highest median tax bill at $8,089, whereas Berkshire has the lowest at $3,246. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as they directly affect annual expenses and the overall affordability of owning property in Tompkins County.
Average Tompkins County Tax Bill
$6,186
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Tompkins County, New York
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berkshire | $786 | $1,666 | $3,246 | $5,192 | $6,694 |
| Brooktondale | $578 | $1,563 | $3,498 | $5,259 | $7,259 |
| Cortland | $1,295 | $2,692 | $3,997 | $5,694 | $6,572 |
| Dryden | $2,608 | $4,605 | $6,240 | $7,664 | $9,518 |
| Etna | $2,699 | $3,580 | $4,754 | $6,450 | $8,373 |
| Freeville | $1,572 | $3,240 | $4,954 | $6,838 | $8,769 |
| Groton | $1,414 | $2,504 | $3,973 | $5,296 | $7,311 |
| Ithaca | $3,347 | $5,524 | $8,089 | $11,099 | $14,466 |
| Jacksonville | $3,175 | $3,421 | $3,831 | $3,976 | $4,063 |
| Lansing | $1,940 | $4,108 | $5,829 | $8,486 | $12,529 |
| Locke | $1,188 | $2,377 | $4,028 | $5,646 | $8,059 |
| Mclean | $5,654 | $5,654 | $5,654 | $5,654 | $5,654 |
| Mc Lean | $1,682 | $2,489 | $3,457 | $4,414 | $4,978 |
| Newfield | $1,500 | $3,070 | $4,189 | $5,628 | $7,371 |
| Slaterville Springs | $2,478 | $3,493 | $4,416 | $5,922 | $9,274 |
| Spencer | $1,921 | $3,335 | $4,791 | $6,659 | $8,959 |
| Trumansburg | $2,095 | $3,657 | $5,450 | $7,444 | $10,067 |
| Willseyville | $1,560 | $2,623 | $4,403 | $5,716 | $7,328 |
Source: Ownwell