Karthaus, Pennsylvania Property Taxes
The median property tax rate in Karthaus, PA is 3.49%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $26,670 in Karthaus, the typical annual property tax bill is $946, which is lower than the national median of $2,690. Property taxes in Karthaus are calculated based on the tax assessed value, which is often below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Karthaus'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 Karthaus or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Karthaus, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.49%
Estimate Property Tax Bill
$931
Ownwell’s Karthaus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Karthaus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Karthaus 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 Karthaus, Pennsylvania
Property taxes in Karthaus, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Karthaus is 3.49%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Karthaus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Karthaus 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. For comparison, the 16845 zip code has the highest median property tax rate of 3.49%, while the same zip code also has the lowest median tax rate of 3.49%. Understanding how these figures compare with Karthaus 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 Karthaus Tax Rate
3.49%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Karthaus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16845 | 3.48% | 3.49% | 3.49% | 3.49% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across Karthaus, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Karthaus, PA. 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 Karthaus, 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. The median home price in Karthaus is $26,670, with tax bills ranging from $548 at the 25th percentile to $3,497 at the 90th percentile. The highest and lowest median tax bills, both $946, are found in the 16845 zip code. 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 their tax burden.
Average Karthaus Assessed Value
$26,670
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 Karthaus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16845 | $7,948 | $15,330 | $26,670 | $66,000 | $100,074 |
Source: Ownwell
Property Tax Bills Across Karthaus, Pennsylvania
In Karthaus, Centre County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, location, and condition. For instance, the median home price in Karthaus is $26,670, which is significantly lower than the national average. Homeowners in Karthaus can expect a wide range of property tax bills. The 25th percentile tax bill is $548, while the 75th percentile is $2,311, and the 90th percentile reaches up to $3,497. The highest median tax bill in the area is $946, which is relatively modest compared to national standards. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations.
Average Karthaus Tax Bill
$946
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Karthaus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16845 | $289 | $548 | $946 | $2,311 | $3,497 |
Source: Ownwell