Maryland, Otsego County, New York Property Taxes

Name: Property Tax Bills Across Maryland, Otsego County, New York
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Maryland, NY effective property tax rate: 1.75%, significantly higher than the national median of 1.02%, and lower than the New York state median of 1.90%.
Median Maryland, NY home value: $158,974
Median annual Maryland, NY tax bill: $2,962, $562 higher than the national median property tax bill of $2,400.

How are property taxes in Otsego calculated?

Property taxes in Maryland, 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 Maryland's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Maryland, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Maryland, Otsego County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.75%

Estimate Property Tax Bill

$2,782

$2,582

Ownwell’s Maryland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Maryland with just two data points. By entering your property's estimated assessed value, our calculator applies Maryland’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 Otsego County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Maryland, Otsego County, New York

Local government entities in New York set tax rates, which can vary widely within the state. This variation occurs because each county annually 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 votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Otsego County, Maryland's effective property tax rate stands at 1.75%, which is higher than the national median property tax rate of 1.02%. This rate is reflective of the county's budgetary needs and the total value of taxable properties within its boundaries.

Comparatively, Maryland's property tax rate aligns with the highest and lowest median tax rates in the state, both recorded at 1.75% in the 12116 zip code. When contrasted with the national median property tax bill of $2400, the rate in Maryland highlights the diverse landscape of property taxation across the U.S. Understanding these rates can help property owners make informed decisions about potential tax liabilities and opportunities for appeals or exemptions.

Property Tax Rates Across Maryland, Otsego County, New York

Source: Ownwell

0.67%

1.57%

2.47%

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 Maryland Tax Rate

1.75%

Median Effective Otsego County Tax Rate

1.90%

Median Effective New York Tax Rate

1.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Maryland, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12116	1.29%	1.68%	1.75%	2.31%	2.50%

Source: Ownwell

Property Tax Assessment Values Across Maryland, Otsego County, New York

When examining property taxes in Maryland, 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. 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 Maryland. For example, the median home price in Maryland is $158,974, with tax bills ranging significantly across the county. Zip code 12116 has the highest median home price at $158,974.

Property Tax Assessment Values Across Maryland, Otsego County, New York

Source: Ownwell

$93,693

$202,252

$310,811

Median Maryland Market Value

$158,974

Median Otsego County Market Value

$162,338

Median New York Market Value

$312,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Maryland, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12116	$53,846	$101,218	$158,974	$228,205	$307,692

Source: Ownwell

Property Tax Bills Across Maryland, Otsego County, New York

In Maryland, Otsego County, New York, property tax bills are calculated based on the assessed value of a home. This value is determined by the local tax assessor and is meant to reflect the property's market value. The property tax rate is applied to this assessed value to calculate the tax bill. Factors such as local government budgets and school funding needs can influence the rate, which means homeowners might see variations in their tax bills from year to year. In Otsego County, the median property tax bill is $2,962, which is higher than the national median of $2,400. Homeowners in this area might pay anywhere from $1,832 at the 25th percentile to $5,878 at the 90th percentile. Ownwell offers services that can help homeowners appeal their property tax assessments, potentially leading to significant savings. By leveraging expert knowledge and resources, Ownwell assists homeowners in ensuring their property is fairly assessed, which can reduce the financial burden of high property tax bills.

Property Tax Bills Across Maryland, Otsego County, New York

Source: Ownwell

$881

$2,702

$4,522

Median Maryland Tax Bill

$2,962

Median Otsego County Tax Bill

$3,172

Median New York Tax Bill

$5,420

Median United States Tax Bill

$2,400

Property Tax Bills Across Maryland, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12116	$964	$1,832	$2,962	$4,323	$5,878

Source: Ownwell

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Dates

Links
Otsego Assessment Review Commission
Website	otsegocountygis.mapxpress.net