Spring Mills, Pennsylvania Property Taxes
The median property tax rate in Spring Mills, PA is 3.07%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Spring Mills at $93,230, the typical annual property tax bill reaches $2,902, exceeding the national median of $2,690. Property taxes in Spring Mills 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 Spring Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Spring Mills 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
Spring Mills, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$2,862
Ownwell’s SPRING MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING MILLS 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 Spring Mills, Pennsylvania
Property taxes in Spring Mills, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Mills is 3.07%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Spring Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Mills 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 Spring Mills's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16875 zip code has the highest median property tax rate of 3.07%, while the same zip code also has the lowest median tax rate of 3.07%. Understanding how these cities compare with Spring Mills 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 Spring Mills Tax Rate
3.07%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | 3.05% | 3.05% | 3.07% | 3.08% | 3.11% |
Source: Ownwell
Property Tax Assessment Values Across Spring Mills, Pennsylvania
In Spring Mills, 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 Spring Mills, 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. The median home price in Spring Mills is $93,230, with tax bills ranging from $1,672 at the 25th percentile to $6,597 at the 90th percentile. The zip code with the highest and lowest median tax bill is 16875, both at $2,902. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Spring Mills, Pennsylvania
Source: Ownwell
$21,600
$82,845
$144,090
Average Spring Mills Assessed Value
$93,230
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 Spring Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | $25,036 | $53,640 | $93,230 | $156,780 | $215,186 |
Source: Ownwell
Property Tax Bills Across Spring Mills, Pennsylvania
In Spring Mills, located in Centre County, PA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's property assessor and reflects a percentage of the property's market value. This value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and condition. For homeowners in Spring Mills, this means that properties with higher market values or significant improvements will likely face higher tax bills. The median home price in Spring Mills is $93,230, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,672, while the 75th percentile reaches $4,830, and the 90th percentile can be as high as $6,597. These property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Spring Mills Tax Bill
$2,902
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | $802 | $1,672 | $2,902 | $4,830 | $6,597 |
Source: Ownwell