Cherry Tree, Pennsylvania Property Taxes
The median property tax rate in Cherry Tree, PA is 0.25%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Cherry Tree, the typical annual property tax bill reaches $153, far below the national median of $2,690. Property taxes in Cherry Tree are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cherry Tree'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 Cherry Tree 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
Cherry Tree, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$154
Ownwell’s Cherry Tree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherry Tree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherry Tree 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 Cherry Tree, Pennsylvania
Property taxes in Cherry Tree, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cherry Tree is 0.25%, which is significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cherry Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cherry Tree 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 Cherry Tree's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, some areas within Clearfield County have varying tax rates, providing valuable insights into the differing tax landscape across the county. This helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cherry Tree Tax Rate
0.25%
Average Clearfield County Tax Rate
0.25%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherry Tree, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Tree, Pennsylvania
In Cherry Tree, 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 Clearfield 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 Cherry Tree, 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 Cherry Tree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15724 has the highest and lowest median tax bill, both at $153.
Property Tax Assessment Values Across Cherry Tree, Pennsylvania
Source: Ownwell
$25,505
$91,730
$157,954
Average Cherry Tree Assessed Value
$61,742
Average Clearfield County Assessed Value
$86,111
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherry Tree, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | $26,591 | $42,803 | $61,742 | $98,864 | $134,495 |
Source: Ownwell
Property Tax Bills Across Cherry Tree, Pennsylvania
In Cherry Tree, located in Clearfield County, PA, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by local tax assessors and is a percentage of the market value, which can vary significantly. Homeowners in Cherry Tree can expect their property tax bills to fall within a range, with the 25th percentile at $106 and the 75th percentile at $245. The 90th percentile tax bill reaches up to $333. These tax bills are influenced by various factors, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For instance, the highest median tax bill recorded in the area is $153, which also happens to be the lowest, indicating a relatively consistent tax rate across different properties. This consistency helps homeowners in Cherry Tree better predict their annual tax liabilities, allowing for more accurate financial planning. With the national median property tax rate at 0.99%, Cherry Tree’s property taxes offer a point of comparison for understanding local tax burdens against national trends.
Average Cherry Tree Tax Bill
$153
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherry Tree, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | $66 | $106 | $153 | $245 | $333 |
Source: Ownwell