13340 Property Tax Rate

Property owners in ZIP code 13340 (Frankfort, New York) pay a median of $3,680/year in property taxes on homes valued at $143,900. This translates to an effective tax rate of 2.56%, which is 39% above the New York state average of 1.85%.

The monthly property tax burden for a median-valued home in 13340 is approximately $307, which factors into escrow payments on mortgages. This ZIP code is located within Herkimer County. This is $1,572 less than the New York average of $5,252/year.

Compared to similar ZIP codes in New York, 13340 has lower property taxes. ZIP codes with similar effective rates include 14061 (2.56%) and 13021 (2.56%).

In Frankfort, property taxes represent approximately 5.3% of the median household income of $69,928, providing context for the relative tax burden on homeowners in this area.

New York has no statewide property tax cap; reassessment varies by municipality and occurs annually or as determined by your local assessor. Herkimer County homebuyers with primary residences earning up to $500,000 should enroll in the STAR (School Tax Relief) program, which exempts a portion of assessed value from school taxes — typically saving $300–$800/year. File your STAR application with the Herkimer County Assessor's office immediately after purchase to lock in the exemption for the following tax year.