Bellefonte, Pennsylvania Property Taxes
The median property tax rate in Bellefonte, PA is 3.19%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bellefonte, the typical annual property tax bill reaches $3,016, exceeding the national median of $2,690. Property taxes in Bellefonte 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 Bellefonte'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 Bellefonte or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bellefonte, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.19%
Estimate Property Tax Bill
$2,824
Ownwell’s Bellefonte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellefonte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellefonte 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 Bellefonte, Pennsylvania
Property taxes in Bellefonte, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellefonte is 3.19%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bellefonte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellefonte 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 Bellefonte's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16823 zip code has the highest median property tax rate of 3.19%, while the same zip code also has the lowest median tax rate of 3.19%. Understanding how these cities compare with Bellefonte provides valuable insights into the varying tax landscape across Centre County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellefonte Tax Rate
3.19%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellefonte, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16823 | 3.03% | 3.06% | 3.19% | 3.72% | 3.88% |
Source: Ownwell
Property Tax Assessment Values Across Bellefonte, Pennsylvania
In Bellefonte, 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 Centre 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 Bellefonte, 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 Bellefonte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Bellefonte's median home price is $88,530, with tax bills ranging from $2,113 at the 25th percentile to $5,484 at the 90th percentile. The zip code 16823 has both the highest and lowest median tax bill of $3,016.
Average Bellefonte Assessed Value
$88,530
Average Centre County Assessed Value
$97,340
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellefonte, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16823 | $24,406 | $59,910 | $88,530 | $129,530 | $170,790 |
Source: Ownwell
Property Tax Bills Across Bellefonte, Pennsylvania
In Bellefonte, Centre 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 tax rate to determine the annual tax bill. For instance, the median home price in Bellefonte is $88,530, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $2,113, while those in the 75th percentile face bills as high as $4,203. At the 90th percentile, the tax bill can reach up to $5,484. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Bellefonte's tax rates can result in higher annual costs for homeowners. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Consequently, understanding property tax calculations is crucial for homeowners to manage their financial planning effectively.
Average Bellefonte Tax Bill
$3,016
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellefonte, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16823 | $943 | $2,113 | $3,016 | $4,203 | $5,484 |
Source: Ownwell