Property owners inside the City of Ithaca pay roughly $32.27 per $1,000 of assessed value in combined property taxes, split across three separate bills from the city, Tompkins County, and the Ithaca City School District. On a home assessed at $300,000, that works out to about $9,681 a year. Each jurisdiction sets its own rate, so the total shifts a little each year as budgets are adopted, and the school portion drives most of the movement.
The Three Rates That Make Up Your Bill
Every parcel in the City of Ithaca is taxed by three governments, each with its own budget and its own rate per $1,000 of assessed value.
For the 2026 fiscal year, the City of Ithaca adopted a rate of $12.24 per $1,000, up from roughly $11.72 the prior year. Tompkins County set its 2026 rate at $4.90 per $1,000, an increase of $0.11 over the previous $4.79.1Tompkins County. 2026 Recommended Budget Book
The Ithaca City School District is the largest of the three. For the 2025–2026 school year, the rate for properties in Tompkins County is $15.1293 per $1,000 of taxable assessed value.2Ithaca City School District. School Taxes Parcels inside the district but in other counties pay a different rate because of equalization adjustments. Since the school levy is close to half your total, its year-to-year change tends to move your bill more than the other two combined.
The city and county both run on a calendar-year cycle and mail together in late December. The school district runs July through June and bills separately in the fall. So you should expect at least two mailings a year with different deadlines.
How the Bill Is Calculated
The formula is the same for each jurisdiction: take your assessed value, divide by 1,000, and multiply by the rate. Add the three results.
Using 2026 rates on a home assessed at $300,000:
- City: 300 × $12.24 = $3,672
- County: 300 × $4.90 = $1,470
- School: 300 × $15.1293 = $4,539
- Total: about $9,681
Your actual bill may include small additional charges for library funding or other special district levies, but those three rates account for the bulk of what you owe. Exemptions reduce the assessed value before the multiplication, which is why even a modest exemption percentage can produce a noticeable dollar savings.
Assessments Are Set at 100% of Market Value
Tompkins County handles assessments for every parcel in its borders, including those inside the City of Ithaca. The county has run an annual reassessment program since 1999, updating values each year to hold them at 100% of fair market value.2Ithaca City School District. School Taxes New York Real Property Tax Law Section 305 requires that all parcels within an assessing unit be assessed at a uniform percentage of current value.3New York State Department of Taxation and Finance. Valuation Standards In practical terms, your assessed value should track what your home would sell for.
The county calibrates from local sales data. When the market slows and comparable sales are thin, the county may pause broad reassessments and update only properties that have been physically changed, such as those with renovations. During those pauses, assessed values can drift from actual market values until the next full update.
Exemptions That Reduce What You Owe
Several programs shrink the assessed value your rate is applied to. None are automatic. You apply through the Tompkins County Assessment office, and each has its own eligibility rules.
STAR
New York’s School Tax Relief program reduces the school portion of the bill for owner-occupied primary residences. Basic STAR is available to homeowners with combined household income of $500,000 or less. Enhanced STAR, a larger benefit, is limited to homeowners age 65 or older with household income of $110,750 or less for the 2026–2027 school year. New applicants register for the STAR credit paid by New York State; the older exemption form is only available to those already enrolled.
Senior Citizens Exemption
Under RPTL Section 467, homeowners age 65 and older may qualify for a reduction of up to 50% of assessed value for county, city, and school taxes. If the property is owned jointly by a couple or by siblings, at least one owner must meet the age threshold.4New York State Department of Taxation and Finance. Assessor Manuals – Exemption Administration: RPTL Section 467 Income ceilings are set locally and can range from $3,000 to $50,000 depending on the local law. Confirm the current limit with the county assessment office before applying.
Veterans Exemption
RPTL Section 458-a offers a tiered exemption for qualifying veterans, spouses, and unremarried surviving spouses on a primary residence used only for residential purposes. It stacks in three parts:
- Wartime service: 15% reduction in assessed value, capped at $12,000 (adjusted by equalization rate).
- Combat zone service: an additional 10% reduction, capped at $8,000, documented by a campaign ribbon or expeditionary medal.
- Service-connected disability: a further reduction equal to half the veteran’s disability rating applied to assessed value, capped at $40,000.5New York State Senate. New York Real Property Tax Law 458-A – Veterans
A veteran with a 100% disability rating who served in a combat zone can qualify for all three tiers. The exemption must be in place before the tentative assessment roll is finalized.
When Bills Are Due and What Late Costs
City and county bills arrive together in late December for the upcoming calendar year. School bills come separately in the fall. The penalty schedules are not the same.
City taxes. Payment runs from January 1 to a set deadline, often in a first-half/second-half format. Miss it and the city adds a 5% penalty in the first month, plus 1% per month through October. On October 1, any unpaid balance becomes formally delinquent and triggers a 15% penalty.6City of Ithaca. City Taxes
County taxes. Due January 1 through January 31 without penalty. A 1% penalty applies in February and grows by 1% a month through March. County taxes can also be paid in two installments: the first by January 31 (with a service charge), the second by July 1. If you miss the January 31 window for the first installment, the option is gone and the full amount is due. Late payment on the second installment draws a 5% penalty plus 1% per month starting July 2.7City of Ithaca. County Taxes
School district taxes. For 2025–2026, payment is due October 1 through October 31 with no penalty. A 2% penalty applies in November and 3% in December. Unpaid bills are then returned to the city for collection in January, at which point additional charges of 5% plus 1% per month begin to compound.8City of Ithaca. School District Taxes
City and county payments can be made at the City Chamberlain’s Office at City Hall, 108 E. Green St., or by mail. Full-year payments are also accepted through an online portal. School taxes are collected separately through the Tompkins Trust Company or the school district’s tax office.
If a city bill is still unpaid on October 1, you may be able to enter an installment agreement: a 25% down payment with the balance spread over 24 months at 1% per month interest.6City of Ithaca. City Taxes That keeps foreclosure off the table so long as you stay current on the plan.
If You Think Your Assessment Is Too High
Since the rate is applied to assessed value, a high assessment raises every one of your three bills. You can challenge it. The first step is filing Form RP-524 with your local Board of Assessment Review on or before Grievance Day, which for most New York municipalities is the fourth Tuesday of May.9New York State Department of Taxation and Finance. RPTL Section 512 – Alternate Grievance Days For 2026, that is May 26. The form must be received by the deadline, not just postmarked. Filing is free.
Useful evidence includes recent comparable sales, a professional appraisal (typically $300 to $750), or documentation of defects the assessor may not have accounted for. If the board denies your grievance and you own a one-, two-, or three-family home used only as a residence, you can file a Small Claims Assessment Review petition with the county clerk within 30 days of the final assessment roll. The filing fee is $30, and you cannot request a value lower than what you asked the board for. For properties with an equalized value above $450,000, the maximum reduction available through SCAR is 25% of the assessed value. Filing SCAR waives your right to a separate Article 7 court challenge.10New York State Unified Court System. Small Claims Assessment Review Petition Instructions