Groton, Tompkins County, New York Property Taxes
Median Groton, NY effective property tax rate: 2.90%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Groton, NY home value: $139,000
Median annual Groton, NY tax bill: $3,973, $1,573 higher than the national median property tax bill of $2,400.
How are property taxes in Tompkins County calculated?
Property taxes in Groton, 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 Groton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Groton, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Groton, Tompkins County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.9%
Estimate Property Tax Bill
$4,031
$3,741
Ownwell’s Groton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Groton with just two data points.
By entering your property's estimated assessed value, our calculator applies Groton’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 Tompkins County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Groton, Tompkins County, New York
Local government entities determine tax rates, leading to significant variations within a state. This is because each county annually estimates the budget needed for services and divides it by the total value of all taxable property in its jurisdiction, resulting in the property tax rate. Though votes and laws play a role in setting tax rates and budgets, this is the basic annual process.
Compare Groton’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S. Groton, located in Tompkins County, has an effective property tax rate of 2.90%, which is notably higher than the national median property tax rate of 1.02%. This makes Groton one of the areas with the highest tax rates in the region. The higher tax rate reflects the county's budgetary needs and the total value of taxable properties. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.
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 Groton Tax Rate
2.90%
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 Tompkins County Tax Rate
2.79%
Median Effective New York Tax Rate
2.39%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Groton, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13073 | 1.63% | 2.40% | 2.90% | 3.14% | 3.77% |
Source: Ownwell
Property Tax Assessment Values Across Groton, Tompkins County, New York
When examining property taxes in Groton, 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 Tompkins 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 Tompkins County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Groton. For example, the median home price in Groton is $139,000, with tax bills ranging significantly across the county. Zip code 13073 has the highest median home price at $139,000.
Property Tax Assessment Values Across Groton, Tompkins County, New York
Source: Ownwell
$118,000
$196,500
$275,000
Median Groton Market Value
$139,000
Median Tompkins County Market Value
$225,000
Median New York Market Value
$255,644
Median United States Market Value
$235,294
Property Tax Assessment Values Across Groton, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13073 | $69,300 | $100,000 | $139,000 | $189,000 | $273,000 |
Source: Ownwell
Property Tax Bills Across Groton, Tompkins County, New York
Median Groton Tax Bill
$3,973
Median Tompkins County Tax Bill
$6,186
Median New York Tax Bill
$5,938
Median United States Tax Bill
$2,400
Property Tax Bills Across Groton, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13073 | $1,414 | $2,504 | $3,973 | $5,296 | $7,311 |
Source: Ownwell