Karns City, Pennsylvania Property Taxes
The median property tax rate in Karns City, PA is 2.43%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Karns City at $77,800, the typical annual property tax bill reaches $1,888, exceeding the national median of $2,690. Property taxes in Karns City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Karns City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Karns City or another part of Armstrong County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Karns City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$1,891
Ownwell’s Karns City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Karns City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Karns City to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Karns City, Pennsylvania
Property taxes in Karns City, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Karns City is 1.35%, higher than both the Pennsylvania state median of 1.27% and the U.S. national median of 0.99%. Local government entities within Karns City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Karns City estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Karns City's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16041 zip code has the highest median property tax rate of 1.35%, while the lowest median tax rate is also 1.35%. Understanding how these cities compare with Karns City provides valuable insights into the varying tax landscape across Armstrong County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Karns City Tax Rate
2.43%
Average Armstrong County Tax Rate
2.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Karns City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16041 | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Karns City, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Karns City, Pennsylvania. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Armstrong County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Karns City, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Karns City is $77,800, with tax bills ranging from $1,146 at the 25th percentile to $4,683 at the 90th percentile. Notably, the zip code with the highest median tax bill is 16041, amounting to $1,888. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Karns City Assessed Value
$77,800
Average Armstrong County Assessed Value
$84,270
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Karns City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16041 | $25,730 | $47,230 | $77,800 | $120,355 | $193,030 |
Source: Ownwell
Property Tax Bills Across Karns City, Pennsylvania
In Karns City, located in Armstrong County, PA, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local government assessors who evaluate the property’s market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Karns City, the median home price stands at $77,800. Property tax bills can vary significantly, with the 25th percentile at $1,146 and the 75th percentile reaching $2,920. At the higher end, the 90th percentile tax bill can be as much as $4,683. The impact on homeowners can be substantial, especially when compared to the national median property tax rate of 0.99%. High property taxes can affect affordability and the overall cost of homeownership in the region. Understanding these factors is crucial for homeowners to budget and plan accordingly.
Average Karns City Tax Bill
$1,888
Average Armstrong County Tax Bill
$2,533
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Karns City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16041 | $624 | $1,146 | $1,888 | $2,920 | $4,683 |
Source: Ownwell