Trumansburg, Tompkins County, New York Property Taxes
Median Trumansburg, NY effective property tax rate: 2.53%, significantly higher than the national median of 1.02%, but lower than the New York state median of 2.39%.
Median Trumansburg, NY home value: $216,000
Median annual Trumansburg, NY tax bill: $5,450, $3,050 higher than the national median property tax bill of $2,400.
How are property taxes in Tompkins calculated?
Property taxes in Trumansburg, 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 Trumansburg’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Trumansburg, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Trumansburg, Tompkins County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.53%
Estimate Property Tax Bill
$5,465
$5,071
Ownwell’s Trumansburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Trumansburg with just two data points.
By entering your property's estimated assessed value, our calculator applies Trumansburg’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Tompkins 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 Trumansburg, Tompkins County, New York
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Trumansburg in Tompkins County, NY, has a median property tax rate of 2.53%. This rate is significantly higher than the national median property tax rate of 1.02%. The effective property tax rate in Trumansburg is also higher than the New York state median. This means homeowners in Trumansburg are likely paying more in property taxes compared to many other areas in the state and the nation. While the higher property tax rate may reflect a higher level of services provided by the local government, it can also be a financial consideration for potential homebuyers and current residents. Comparing Trumansburg’s effective property tax rate to other cities in New York and the U.S. can provide valuable insights for property owners and prospective buyers.
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 Trumansburg Tax Rate
2.53%
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 Trumansburg, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14886 | 1.63% | 2.27% | 2.53% | 2.88% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Trumansburg, Tompkins County, New York
When examining property taxes in Trumansburg, 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 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 Trumansburg.
For example, the median home price in Trumansburg is $216,000, with tax bills ranging significantly across the county. 14886 has the highest median home price at $216,000.
Property Tax Assessment Values Across Trumansburg, Tompkins County, New York
Source: Ownwell
$118,000
$196,500
$275,000
Median Trumansburg Market Value
$216,000
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 Trumansburg, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14886 | $118,500 | $162,000 | $216,000 | $286,000 | $378,000 |
Source: Ownwell
Property Tax Bills Across Trumansburg, Tompkins County, New York
Median Trumansburg Tax Bill
$5,450
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 Trumansburg, Tompkins County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14886 | $2,095 | $3,657 | $5,450 | $7,444 | $10,067 |
Source: Ownwell