Milesburg, Pennsylvania Property Taxes
The median property tax rate in Milesburg, PA is 4.04%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Milesburg at $55,440, the typical annual property tax bill reaches $2,218, which is below the national median of $2,690. Property taxes in Milesburg 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 Milesburg'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 Milesburg 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
Milesburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.04%
Estimate Property Tax Bill
$2,240
Ownwell’s Milesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milesburg 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 Milesburg, Pennsylvania
Property taxes in Milesburg, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milesburg is 4.04%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Milesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milesburg 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 Milesburg's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16853 zip code has both the highest and lowest median property tax rate of 4.04%. Understanding how these cities compare with Milesburg 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 Milesburg Tax Rate
4.04%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milesburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16853 | 3.94% | 4.04% | 4.04% | 4.04% | 4.04% |
Source: Ownwell
Property Tax Assessment Values Across Milesburg, Pennsylvania
In Milesburg, 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 Milesburg, 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 Milesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Milesburg is 16853, with a median tax bill of $2,218.
Average Milesburg Assessed Value
$55,440
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 Milesburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16853 | $17,066 | $38,385 | $55,440 | $67,050 | $84,036 |
Source: Ownwell
Property Tax Bills Across Milesburg, Pennsylvania
In Milesburg, Centre County, PA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Homeowners in Milesburg can expect their property tax bill to vary significantly depending on several factors, including the assessed value, local tax rates, and any applicable exemptions. For example, the median home price in Milesburg is $55,440. Property tax bills in the area range from the 25th percentile at $1,556 to the 75th percentile at $2,692, with the 90th percentile reaching up to $3,373. This range indicates that while some homeowners may pay relatively low property taxes, others could face substantially higher bills. The highest and lowest median tax bills in the region are both $2,218, indicating a consistent median rate across different zip codes. Compared to the national median property tax rate of 0.99%, Milesburg's property taxes can significantly impact homeowners, influencing their financial planning and long-term investment in their properties.
Average Milesburg Tax Bill
$2,218
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Milesburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16853 | $771 | $1,556 | $2,218 | $2,692 | $3,373 |
Source: Ownwell