Binghamton property tax is levied by three separate authorities — the City of Binghamton, Broome County, and the Binghamton City School District — and for 2026 a homestead owner pays a combined rate of roughly $65.84 per $1,000 of assessed value. On a home assessed at $50,000, that works out to about $3,292 for the year.1Broome County New York. Tax Rates Non-homestead properties pay considerably more. The sections below walk through the current rates, how your bill is calculated, when it is due, the exemptions that can lower it, and what to do if you think your assessment is wrong.
2026 Rates and What a Typical Bill Looks Like
Binghamton splits properties into two classes. Homestead covers one-to-three-family residential homes. Non-homestead covers everything else: commercial buildings, apartments with four or more units, and vacant land. The non-homestead rate is sharply higher.
Rates per $1,000 of assessed value for 2026:1Broome County New York. Tax Rates
- County tax: $9.68 (both classes)
- City tax, homestead: $22.46
- City tax, non-homestead: $41.63
- School tax, homestead: $33.69
- School tax, non-homestead: $48.11
A homestead property assessed at $50,000 owes about $3,292 a year across all three levies. A non-homestead property at the same assessment owes closer to $4,971. Mixed-use buildings are taxed with each portion at its own rate.
How Your Bill Is Calculated
Every bill starts with the assessed value the City Assessor assigns to your parcel. New York law requires all property within an assessing unit to be assessed at a uniform percentage of market value so that each owner carries a proportionally equal share of the burden.2FindLaw. New York Real Property Tax Law RPT 305 – Assessment Methods and Standard The Assessor sets that value using recent comparable sales, the property’s physical characteristics, and current construction costs.
Binghamton uses fractional assessment, meaning your assessed value is a percentage of market value rather than the full price. That percentage is the equalization rate, and it changes year to year. At a 44% equalization rate, a home worth $150,000 on the market would be assessed around $66,000.
Each taxing jurisdiction then sets its rate by dividing its total tax levy by the combined taxable assessed value in its jurisdiction, expressed as a rate per $1,000.3New York State Department of Taxation and Finance. How Property Taxes Are Calculated To find your tax, multiply your assessed value in thousands by the rate. A homestead property assessed at $60,000 owes $60 × $22.46, or $1,347.60, in city tax alone.
When Bills Arrive and How to Pay
You will receive more than one bill. The city and county taxes typically arrive on a combined bill mailed in early January. The school district runs on a July-to-June fiscal year and sends its bill separately in early September.4New York State Department of Taxation and Finance. Property Tax Calendar Because the cycles do not align, missing one does not mean you missed the other. Treat them as separate obligations.
The city and county bill is due in January; the school bill is due in September.5Broome County New York. Tax Calendar Each bill lists its specific due date. Pay online through the city’s payment portal, in person at the City Treasurer’s Office with cash or check, or by mail with a check postmarked by the due date. The Treasurer’s Office issues a receipt you can use for your mortgage company or federal return.
If Your Mortgage Includes Escrow
When your mortgage has an escrow account, your lender collects a share of your estimated annual property taxes each month and is required to disburse the bills on time so no penalties attach.6Consumer Financial Protection Bureau. Timely Escrow Payments and Treatment of Escrow Account Balances The legal obligation still rests with you as the owner, though. If the servicer misses a deadline, the penalty attaches to your property, not theirs. Check your annual escrow statement, watch for shortage notices, and expect your monthly payment to adjust when rates or assessments rise.
Exemptions That Lower What You Owe
Several exemptions can cut your bill significantly, but none apply automatically. You have to file with the City Assessor’s Office, and most require annual renewal.
STAR (School Tax Relief)
STAR reduces the school tax portion of your bill. Basic STAR is available for owner-occupied primary residences where the owner’s income is $250,000 or less.7New York State Department of Taxation and Finance. STAR Eligibility Enhanced STAR is for homeowners 65 or older with income of $110,750 or less for the 2026–2027 school year.8New York State Department of Taxation and Finance. Types of STAR New applicants register with the New York State Tax Department rather than the local assessor. Existing recipients generally do not reapply each year, though Enhanced STAR recipients must verify income annually.
Senior Citizens Exemption
Homeowners 65 and older with limited income can qualify for an additional exemption that reduces the assessed value used for city, county, and school taxes. The base exemption is 50% of assessed value for owners at or below a locally set income ceiling, which can range from $3,000 to $50,000. Incomes modestly above the base qualify for smaller reductions on a sliding scale that steps down in 5% increments.9New York State Department of Taxation and Finance. Assessor Manuals, Exemption Administration – RPTL Section 467 If only one spouse is 65 or older, the couple can still qualify, and a surviving spouse as young as 62 may continue receiving the exemption after the older spouse’s death.
Veterans Exemption
Veterans who served during a recognized period of war receive a three-tiered exemption that can stack:10New York State Senate. New York Real Property Tax Law 458-A – Veterans Alternative Exemption
- Wartime service: 15% of assessed value, capped at $12,000 (adjusted by the equalization rate).
- Combat zone service: an additional 10% of assessed value, capped at $8,000 (adjusted by the equalization rate), requiring documentation of a campaign ribbon, service medal, or expeditionary medal.
- Service-connected disability: an additional exemption equal to half the veteran’s disability rating multiplied by assessed value, capped at $40,000 (adjusted by the equalization rate).
Gold Star families also qualify; a service member who died from a service-connected cause is treated as having a 100% disability rating. A DD-214 or equivalent discharge documentation must be filed with the assessor.
Disability Exemption
Property owners with a qualifying medical disability and limited income can receive up to a 50% assessed-value exemption on a sliding scale identical to the senior citizens exemption, with no minimum age requirement. The income ceiling is set by local law and can range from $3,000 to $50,000. Proof of disability and annual income verification are required each year.11New York State Senate. New York Real Property Tax Law 459-C – Persons with Disabilities and Limited Incomes
Volunteer Firefighter and Ambulance Worker Exemption
Where the municipality has opted in, active volunteer firefighters and ambulance workers can receive a 10% exemption on the assessed value of their primary residence. Two to five years of certified service are required, depending on local rules. Volunteers with more than 20 years of active service may qualify for life. If you claim this property tax exemption, you cannot also claim the New York State income tax credit for the same volunteer service.
Filing Deadline
Most exemption applications must be filed with the Assessor’s Office on or before the taxable status date, which in most communities is March 1. STAR has its own state registration. Miss the deadline and you lose the exemption for the entire upcoming tax year with no retroactive fix, so file early.
Challenging Your Assessment
If you think your assessment is too high, you can file a formal grievance on Form RP-524 stating what you believe the correct assessment is and the evidence behind that figure.12New York State Department of Taxation and Finance. Grievance Procedures Strong evidence includes a recent independent appraisal, comparable sales showing similar nearby homes sold for less than your implied market value, or documentation of property defects the assessor may have missed.
In most New York communities the deadline is Grievance Day, the fourth Tuesday in May. Cities like Binghamton can set a different date, so confirm the exact deadline with the City Assessor or City Clerk.12New York State Department of Taxation and Finance. Grievance Procedures Miss it even by a day and you forfeit the right to grieve for that cycle.
The Board of Assessment Review hears your case and issues a written decision. If the board denies you or grants only a partial reduction, you can escalate to a Small Claims Assessment Review (SCAR). SCAR is open to owner-occupants of residential property and carries a $30 filing fee. The petition must be filed with the county clerk within 30 days of the final assessment roll. Hearings are less formal than court, and you do not need a lawyer, though some homeowners hire an appraiser to strengthen their case.
What Happens if You Pay Late
Missing a deadline starts an interest clock that is hard to outrun. Under New York law, interest accrues at 1% per month or fraction of a month on unpaid taxes, which is at least 12% annually.13New York State Department of Taxation and Finance. Interest Rates on Late Payment of Property Taxes The statute sets 12% as a floor, and the actual rate can be higher depending on the prevailing rate set by the Commissioner of Taxation and Finance.14New York State Senate. New York Real Property Tax Law 924-A – Interest Rate on Late Payment of Taxes and Delinquencies There is no meaningful grace period.
If you fall further behind, Broome County offers an installment repayment program before foreclosure. The program requires a 25% down payment on all taxes owed, with the remainder paid over 24 monthly installments at 1% monthly interest. Any new taxes that come due during those 24 months must be paid on time, or you default out of the program.15Broome County New York. Tax Collection
If taxes stay unpaid, the county can foreclose. New York law generally provides a two-year redemption period from the lien date, during which you can pay the full amount owed plus interest and penalties to save the property.16New York State Senate. New York Real Property Tax Law RPT 1110 For vacant and abandoned properties, that window can be shortened to one year. Once the redemption period expires, the county can take ownership and sell.
Renovations and Reassessment
Renovating can trigger a reassessment. Building permits are public records, and assessors use them to flag properties that may have gained value. Structural changes like additions, garage conversions, or second-story expansions are the most likely to prompt a physical inspection and an upward adjustment. Cosmetic work like paint, flooring, or fixtures generally will not.
Timing matters. The Assessor evaluates condition as of the taxable status date. Improvements completed before that date can raise your assessment for the current cycle; work finished afterward may not show up until the following year. A $40,000 addition that lifts assessed value by $18,000 could add more than $1,100 a year to your combined bill at current homestead rates, so plan the budget with the tax effect in mind.