HomeMy WebLinkAboutAssessment ExplanationAs you may have heard by now, the Tompkins County Assessment Department has
updated property assessments based on current market values.
An increase or decrease in your assessment does not mean that your taxes will
increase/decrease accordingly. Your actual 2025 tax bill will depend on the budgets
adopted in each jurisdiction, other property assessment changes, exemptions, state aid
changes, etc. For example, a typical property in the Town of Ithaca whose taxable
assessment increased 10% in 2024 saw a Town property tax increase of $14.41 from 2023
to 2024.
For further information about assessments and informal reviews please go to the Tompkins
County Department of Assessment website:
https://www.tompkinscountyny.gov/assessment. Important dates: April 12 is the last day
to submit an informal assessment review; Tentative Assessment Roll Filed on May 1;
Grievance Day is May 28.
2024 2023
Taxable Assessed Value 360,000.00 326,000.00
Town of Ithaca Tax Bill:
General 748.02 677.08
Full Town Highway 121.12 202.60
Highway Outside 107.10 128.78
Ithaca Fire 825.42 788.27
Ithaca Sewer 98.56 89.05
Ithaca Water 189.56 189.59
Total 2,089.78 2,075.37
Assessment Increase 10.43%
Property Tax Increase 0.69%