Gillett, Pennsylvania Property Taxes
The median property tax rate in Gillett, PA is 3.12%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $53,550 in Gillett, the typical annual property tax bill amounts to $1,570, which is below the national median of $2,690. Property taxes in Gillett are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gillett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gillett or another part of Bradford County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gillett, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.12%
Estimate Property Tax Bill
$1,671
Ownwell’s Gillett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gillett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gillett 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 Gillett, Pennsylvania
Property taxes in Gillett, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gillett is 3.12%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Gillett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gillett 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 Gillett's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16925 zip code has the highest median property tax rate of 3.12%, while the same zip code also has the lowest median tax rate of 3.12%. Understanding how these cities compare with Gillett provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gillett Tax Rate
3.12%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gillett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16925 | 2.15% | 2.97% | 3.12% | 3.34% | 3.34% |
Source: Ownwell
Property Tax Assessment Values Across Gillett, Pennsylvania
In Gillett, PA, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Bradford 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 Gillett, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gillett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bradford County, the zip code with the highest median tax bill is 16925, with a median tax bill of $1,570.
Average Gillett Assessed Value
$53,550
Average Bradford County Assessed Value
$61,590
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gillett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16925 | $20,097 | $34,021 | $53,550 | $77,513 | $112,554 |
Source: Ownwell
Property Tax Bills Across Gillett, Pennsylvania
In Gillett, Bradford County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, the median home price in Gillett is $53,550. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile paying around $1,018, while those in the 75th percentile might pay up to $2,218. At the 90th percentile, the tax bill can reach as high as $2,992. Compared to the national median property tax rate of 0.99%, Gillett's property tax rates can be relatively high, which can impact homeowners' annual budgets. The highest median tax bill in the area is $1,570, found in the 16925 zip code. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Gillett Tax Bill
$1,570
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gillett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16925 | $587 | $1,018 | $1,570 | $2,218 | $2,992 |
Source: Ownwell