New Lisbon, Otsego County, New York Property Taxes
Median New Lisbon, NY effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, and higher than the New York state median of 1.90%.
Median New Lisbon, NY home value: $124,062
Median annual New Lisbon, NY tax bill: $2,906, $506 higher than the national median property tax bill of $2,400.
How are property taxes in Otsego calculated?
Property taxes in New Lisbon, 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 New Lisbon's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Lisbon, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Lisbon, Otsego County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.22%
Estimate Property Tax Bill
$2,754
$2,556
Property Tax Rates Across New Lisbon, Otsego County, New York
Local government entities determine property tax rates, which can significantly differ even within the same state. This variation arises because each county annually calculates its budgetary needs for providing services and divides this by the total assessed value of all taxable properties within its jurisdiction. This process results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially how it works each year.
New Lisbon, located in Otsego County, NY, exemplifies this with its effective property tax rate. When comparing New Lisbon’s rate to other cities in New York, it is evident that New Lisbon’s rate is higher than the county average. With New York's median tax rate at 2.22%, New Lisbon stands out against the national median property tax rate of 1.02%. The national median property tax bill is $2,400, which provides a benchmark for understanding local tax obligations. This comparison highlights the importance of understanding local tax rates and their impact on property owners.
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 New Lisbon Tax Rate
2.22%
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 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 New Lisbon, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13415 | 1.77% | 1.93% | 2.22% | 2.37% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across New Lisbon, Otsego County, New York
When examining property taxes in New Lisbon, 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.
Assessment notices: 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 New Lisbon. For example, the median home price in New Lisbon is $124,062, with tax bills ranging significantly across the county. Zip code 13415 has the highest median home price at $124,062.
Property Tax Assessment Values Across New Lisbon, Otsego County, New York
Source: Ownwell
$93,693
$202,252
$310,811
Median New Lisbon Market Value
$124,062
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 New Lisbon, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13415 | $31,679 | $66,358 | $124,062 | $182,037 | $270,556 |
Source: Ownwell
Property Tax Bills Across New Lisbon, Otsego County, New York
Median New Lisbon Tax Bill
$2,906
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 New Lisbon, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 13415 | $791 | $1,430 | $2,906 | $4,050 | $6,043 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
|---|
Links | |
|---|---|
| Otsego Assessment Review Commission | |
| Website | otsegocountygis.mapxpress.net |