Jacksonville, New York Property Taxes
The median property tax rate in Jacksonville, NY is 2.94%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Jacksonville, the typical annual property tax bill reaches $3,831, exceeding the national median of $2,690. Property taxes in Jacksonville 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 Jacksonville'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 Jacksonville 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
Jacksonville, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.94%
Estimate Property Tax Bill
$3,969
$3,924
Ownwell’s Jacksonville Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Jacksonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jacksonville 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 Jacksonville, New York
Property taxes in Jacksonville, New York, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacksonville is 2.94%, significantly higher than the U.S. national median of 0.99%. Local government entities within Jacksonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacksonville 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 Jacksonville's effective property tax rate to other counties in New York and the national median. For comparison, the 14854 zip code has both the highest and lowest median property tax rate of 2.94%. Understanding how these cities compare with Jacksonville provides valuable insights into the varying tax landscape across Tompkins County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jacksonville Tax Rate
2.94%
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 Jacksonville, New York
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
14854 | 1.53% | 2.06% | 2.94% | 3.11% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Jacksonville, New York
In Jacksonville, 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 Tompkins 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 Jacksonville, 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 Jacksonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 14854, with a bill of $3,831.00, while the lowest is also 14854, with the same tax bill of $3,831.00.
Average Jacksonville Assessed Value
$135,000
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 Jacksonville, New York
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
14854 | $103,400 | $120,500 | $135,000 | $186,250 | $269,500 |
Source: Ownwell
Property Tax Bills Across Jacksonville, New York
In Jacksonville, located in Tompkins County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Jacksonville face varying tax bills depending on their property's assessed value. For instance, the median home price in Jacksonville is $135,000, and the property tax rate in Tompkins County is higher than the national median of 0.99%. Tax bills can vary significantly. The 25th percentile of tax bills is around $3,421, while the 75th percentile reaches up to $3,976. At the higher end, the 90th percentile tax bill is approximately $4,063. These amounts can have a substantial impact on homeowners, influencing their overall housing costs and affordability. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Jacksonville Tax Bill
$3,831
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 Jacksonville, New York
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
14854 | $3,175 | $3,421 | $3,831 | $3,976 | $4,063 |
Source: Ownwell