Richmondville, Otsego County, New York Property Taxes
Median Richmondville, NY effective property tax rate: 2.44%, significantly higher than the national median of 1.02%, and higher than the New York state median of 1.90%.
Median Richmondville, NY home value: $93,693
Median annual Richmondville, NY tax bill: $2,776, $376 higher than the national median property tax bill of $2,400.
How are property taxes in Otsego calculated?
Property taxes in Richmondville, 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 Richmondville's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richmondville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Richmondville, Otsego County, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.44%
Estimate Property Tax Bill
$2,286
$2,121
Property Tax Rates Across Richmondville, Otsego County, New York
Local government entities are responsible for setting property tax rates, which can differ significantly across a state. This is because each county annually estimates the budget needed to provide public services and divides it by the total assessed value of all taxable property within its boundaries. This calculation determines the property tax rate. Although the process involves votes and legislative measures, this is essentially how it works each year.
In Richmondville, the effective property tax rate stands at 2.44%, which is notably higher than the national median of 1.02%. This rate is consistent across Otsego County, where Richmondville is located. The county's rate is one of the highest in New York, reflecting the local government's budgetary needs and the value of taxable properties. Compared to the national median property tax bill of $2,400, homeowners in Richmondville may find their property tax obligations to be significantly higher, impacting their overall cost of living. Understanding these differences can help residents make informed decisions about property ownership and financial planning.
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 Richmondville Tax Rate
2.44%
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 Richmondville, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12149 | 1.83% | 2.21% | 2.44% | 2.49% | 4.18% |
Source: Ownwell
Property Tax Assessment Values Across Richmondville, Otsego County, New York
When examining property taxes in Richmondville, 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 Richmondville. For example, the median home price in Richmondville is $93,693, with tax bills ranging significantly across the county. Zip code 12149 has the highest median home price at $93,693.
Property Tax Assessment Values Across Richmondville, Otsego County, New York
Source: Ownwell
$93,693
$202,252
$310,811
Median Richmondville Market Value
$93,693
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 Richmondville, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12149 | $27,799 | $56,422 | $93,693 | $179,472 | $225,918 |
Source: Ownwell
Property Tax Bills Across Richmondville, Otsego County, New York
In Richmondville, located in Otsego County, NY, property tax bills are determined based on the assessed value of a home rather than its market value. Homeowners in Richmondville face a median property tax bill of $2,776, which is slightly above the national median of $2,400. The tax bill can range significantly, with the 25th percentile at $1,285 and the 90th percentile reaching $5,306. These variations are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. With the national median property tax rate at 1.02%, homeowners in Richmondville may find themselves paying a higher percentage relative to their property's assessed value.
Ownwell offers a solution for homeowners aiming to reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell helps homeowners navigate the complexities of property tax assessments. This can lead to significant savings by ensuring that property taxes align more closely with the actual value of the home, thus reducing the financial burden on homeowners.
Median Richmondville Tax Bill
$2,776
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 Richmondville, Otsego County, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12149 | $947 | $1,285 | $2,776 | $4,334 | $5,306 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Otsego Assessment Review Commission | |
| Website | otsegocountygis.mapxpress.net |