Driftwood, Pennsylvania Property Taxes
The median property tax rate in Driftwood, PA is 4.04%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $18,400 in Driftwood, the typical annual property tax bill is $732, which is lower than the national median of $2,690. Property taxes in Driftwood are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Gaining a comprehensive understanding of Driftwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're situated in the heart of Driftwood or another part of Cameron County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Driftwood, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.04%
Estimate Property Tax Bill
$743
Ownwell’s Driftwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Driftwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Driftwood 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 Driftwood, Pennsylvania
Property taxes in Driftwood, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Driftwood is 4.04%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Driftwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Driftwood 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 Driftwood's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15832 has the highest median property tax rate of 4.04%, while the same zip code also has the lowest median tax rate of 4.04%. Understanding how these areas compare with Driftwood provides valuable insights into the varying tax landscape across Cameron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Driftwood Tax Rate
4.04%
Average Cameron County Tax Rate
4.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Driftwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | 3.89% | 3.89% | 4.04% | 4.04% | 4.09% |
Source: Ownwell
Property Tax Assessment Values Across Driftwood, Pennsylvania
In Driftwood, Pennsylvania, 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 local appraisal district 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 Driftwood, 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 Driftwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 15832 has the highest median tax bill at $732.00, while the lowest median tax bill is also $732.00, indicating a uniform tax assessment across the area.
Average Driftwood Assessed Value
$18,400
Average Cameron County Assessed Value
$27,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Driftwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | $5,000 | $10,600 | $18,400 | $30,700 | $50,022 |
Source: Ownwell
Property Tax Bills Across Driftwood, Pennsylvania
In Driftwood, PA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county's assessment office. Factors such as the property's location, size, and condition play a significant role in this valuation. For homeowners in Driftwood, the median home price is $18,400. The property tax rate in Cameron County is applied to this assessed value to calculate the tax bill. Tax bills can vary significantly; the 25th percentile tax bill is $418, while the 75th percentile reaches $1,201. At the 90th percentile, homeowners may see bills as high as $1,890. Understanding these factors is crucial for homeowners, as property taxes can represent a substantial annual expense. Comparing these figures to the national median property tax rate of 0.99% highlights the importance of accurate assessments and the impact on household budgets in Driftwood.
Average Driftwood Tax Bill
$732
Average Cameron County Tax Bill
$1,107
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Driftwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | $198 | $418 | $732 | $1,201 | $1,890 |
Source: Ownwell