12197 Property Tax Rate

Property owners in ZIP code 12197 (Worcester, New York) pay a median of $2,873/year in property taxes on homes valued at $163,300. This translates to an effective tax rate of 1.76%, which is 5% below the New York state average of 1.85%.

The monthly property tax burden for a median-valued home in 12197 is approximately $239, which factors into escrow payments on mortgages. This ZIP code is located within Otsego County. This is $2,379 less than the New York average of $5,252/year.

Compared to similar ZIP codes in New York, 12197 has lower property taxes. ZIP codes with similar effective rates include 12118 (1.76%) and 10701 (1.76%).

In Worcester, property taxes represent approximately 3.6% of the median household income of $78,750, providing context for the relative tax burden on homeowners in this area.

New York has no statewide property tax cap; Otsego County properties are reassessed based on market value and local tax needs without annual increase limits. Otsego County primary residence owners earning ≤$500,000 qualify for STAR, which reduces school property taxes by exempting a portion of assessed value — apply through local schools or the Otsego County Assessor's office by March 15 annually. Contact the Otsego County Assessor within 30 days of closing to register your property and file your STAR application to activate the school tax exemption on your first bill.