14850 Property Tax Rate

Property owners in ZIP code 14850 (Ithaca, New York) pay a median of $7,831/year in property taxes on homes valued at $334,800. This translates to an effective tax rate of 2.34%, which is 27% above the New York state average of 1.85%.

The monthly property tax burden for a median-valued home in 14850 is approximately $653, which factors into escrow payments on mortgages. This ZIP code is located within Tompkins County. This is $2,579 more than the New York average of $5,252/year.

Compared to similar ZIP codes in New York, 14850 has higher property taxes. ZIP codes with similar effective rates include 13452 (2.34%) and 11953 (2.34%).

In Ithaca, property taxes represent approximately 11.2% of the median household income of $69,689, providing context for the relative tax burden on homeowners in this area.

New York has no statewide property tax cap; Tompkins County reassesses on a periodic cycle with no automatic adjustment at purchase—homeowners face moderate reassessment risk. Apply for STAR (School Tax Relief) with the Tompkins County Assessor if household income is ≤$500,000; eligible homeowners save $400–$700/year on school taxes. File by March 15 following purchase and request your tentative assessment to understand your tax trajectory in this college-town county.