Worcester, Otsego County, New York Property Taxes

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

Median Worcester, NY effective property tax rate: 2.47%, significantly higher than the national median of 1.02%, and higher than the New York state median of 1.90%.
Median Worcester, NY home value: $140,482
Median annual Worcester, NY tax bill: $3,255, $855 higher than the national median property tax bill of $2,400.

How are property taxes in Otsego calculated?

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

Last Updated March 1, 2025

Worcester, Otsego County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.47%

Estimate Property Tax Bill

$3,470

$3,220

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

Property Tax Rates Across Worcester, Otsego County, New York

Local government entities set tax rates, which can vary widely within a state. Annually, 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.

Below, you can compare Worcester’s effective property tax rate to other cities in New York and the median property tax rates in New York and the U.S. Worcester, located in Otsego County, has a property tax rate of 2.47%, which is significantly higher than the national median of 1.02%. This rate is also higher than the national median property tax bill of $2400, reflecting the higher property values and tax requirements in the area.

Understanding these rates is crucial for property owners in Otsego County, as they directly impact the annual financial obligations tied to property ownership. By knowing where Worcester stands in comparison to state and national figures, property owners can make more informed decisions regarding their property tax appeals and exemptions.

Property Tax Rates Across Worcester, 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 Worcester Tax Rate

2.47%

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 Worcester, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
12197	1.57%	2.08%	2.47%	2.65%	3.49%

Source: Ownwell

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

When examining property taxes in Worcester, 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 March. 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 Worcester. For example, the median home price in Worcester is $140,482, with tax bills ranging significantly across the county. Zip code 12197 has the highest median home price at $140,482.

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

Source: Ownwell

$93,693

$202,252

$310,811

Median Worcester Market Value

$140,482

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 Worcester, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
12197	$53,440	$97,446	$140,482	$194,954	$256,304

Source: Ownwell

Property Tax Bills Across Worcester, Otsego County, New York

In Worcester, NY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is influenced by factors like location, property size, and market conditions. Worcester's median home price is $140,482, and property tax bills can vary significantly. While the 25th percentile tax bill is $2,001, the 75th percentile reaches $4,691, and the 90th percentile soars to $6,447. Notably, the highest and lowest median tax bills are both $3,255 in the 12197 zip code. Compared to the national median property tax bill of $2,400, Worcester homeowners often face higher costs, impacting their financial planning and homeownership expenses. Ownwell can assist homeowners in Worcester by identifying potential savings through property tax appeals. By analyzing property assessments and market data, Ownwell helps ensure homeowners are not overpaying, potentially reducing their tax burden and providing peace of mind.

Property Tax Bills Across Worcester, Otsego County, New York

Source: Ownwell

$881

$2,702

$4,522

Median Worcester Tax Bill

$3,255

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 Worcester, Otsego County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
12197	$1,064	$2,001	$3,255	$4,691	$6,447

Source: Ownwell

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Dates

Links
Otsego Assessment Review Commission
Website	otsegocountygis.mapxpress.net