Binghamton, Broome County, New York Property Taxes

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Property Taxes in Binghamton, New York

Median Binghamton, NY effective property tax rate: 4.70%, significantly higher than the national median of 1.02%, but lower than the NY state median of 2.39%.
Median Binghamton, NY home value: $108,000
Median annual Binghamton, NY tax bill: $5,073, $2,673 higher than the national median property tax bill of $2,400.

How are property taxes in Broome calculated?

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

Last Updated March 1, 2025

Binghamton, Broome County, New York Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.03%

Estimate Property Tax Bill

$3,793

$3,520

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

Property Tax Rates Across Binghamton, Broome County, New York

Local government entities set tax rates, which can vary widely within a state. This is because 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.

Binghamton in Broome County, NY, has a median property tax rate significantly higher than the national median of 1.02%. With rates ranging from 3.40% in some areas to as high as 6.41% in others, Binghamton’s property tax landscape is diverse. This means that homeowners in Binghamton might pay more than the national median property tax bill of $2,400. Such variations underscore the importance of understanding local tax assessments, which can have a substantial impact on the overall cost of homeownership. Comparing Binghamton’s effective property tax rate to other cities in New York can provide valuable insights for homeowners and potential buyers.

Property Tax Rates Across Binghamton, Broome County, New York

Source: Ownwell

1.09%

2.61%

4.13%

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 Binghamton Tax Rate

3.03%

Median Effective Broome County Tax Rate

3.02%

Median Effective New York Tax Rate

1.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Binghamton, Broome County, New York

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
13901	2.57%	2.57%	2.98%	3.03%	3.48%
13903	3.13%	3.17%	3.27%	3.73%	3.73%
13904	2.16%	2.47%	3.03%	3.73%	3.73%
13905	2.18%	2.30%	3.00%	3.73%	3.73%

Source: Ownwell

Property Tax Assessment Values Across Binghamton, Broome County, New York

When examining property taxes in Binghamton, 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 Broome 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 Broome 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 Binghamton.

For example, the median home price in Binghamton is $108,000, with tax bills ranging significantly across the county. Zip code 13901 has the highest median home price at $123,964.

Property Tax Assessment Values Across Binghamton, Broome County, New York

Source: Ownwell

$70,143

$142,122

$214,100

Median Binghamton Market Value

$125,172

Median Broome County Market Value

$133,758

Median New York Market Value

$312,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Binghamton, Broome County, New York

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
13901	$74,138	$103,103	$143,130	$187,475	$258,182
13903	$71,552	$93,448	$121,553	$168,932	$262,759
13904	$70,690	$90,517	$109,655	$137,131	$203,586
13905	$72,895	$94,828	$125,862	$160,000	$209,924

Source: Ownwell

Property Tax Bills Across Binghamton, Broome County, New York

In Binghamton, NY, property tax bills are determined by assessing the property's market value, which is then multiplied by the local tax rate. Broome County's property tax rate often surpasses the national median of 1.02%, resulting in higher tax bills for homeowners. The median home price in Binghamton is $108,000, and property tax bills can range significantly. For instance, the 25th percentile tax bill is $3,844, while the 75th percentile reaches $6,650, and the 90th percentile can soar to $8,806. Notably, the highest median tax bill in the area is $5,526 in the 13905 zip code, whereas the lowest is $4,555 in the 13901 zip code. These figures highlight the financial burden on homeowners due to varying tax rates and assessed values. Ownwell assists homeowners by evaluating their property assessments and identifying potential discrepancies. By appealing inaccurate assessments and securing exemptions, Ownwell helps clients reduce their property tax bills, providing significant savings and financial relief.

Property Tax Bills Across Binghamton, Broome County, New York

Source: Ownwell

$1,073

$3,570

$6,066

Median Binghamton Tax Bill

$4,368

Median Broome County Tax Bill

$4,336

Median New York Tax Bill

$5,420

Median United States Tax Bill

$2,400

Property Tax Bills Across Binghamton, Broome County, New York

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
13901	$2,522	$3,455	$4,453	$5,617	$7,591
13903	$2,527	$3,481	$4,614	$6,246	$9,731
13904	$2,108	$2,894	$3,854	$5,075	$7,507
13905	$2,306	$3,148	$4,332	$5,717	$8,342

Source: Ownwell

Don't miss the deadline to file a grievance!

Dates
Appeal Deadline	May 26

Links
Broome Assessment Review Commission
Website	gis.broomecountyny.gov

Frequently Asked Property Tax Questions in Binghamton, New York

How are property taxes calculated in Binghamton, New York?

Property taxes in Binghamton, New York are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Binghamton, New York?

To appeal your property taxes in Binghamton, New York, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Binghamton, New York?

Common property tax exemptions in Binghamton, New York include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Binghamton, New York?

Property tax deadlines in Binghamton, New York vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Binghamton, New York?

Ownwell provides professional property tax appeal services in Binghamton, New York. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.