Falls Creek, Pennsylvania Property Taxes
The median property tax rate in Falls Creek, 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 Falls Creek, the typical annual property tax bill reaches $197, well below the national median of $2,690. Property taxes in Falls Creek 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 Falls Creek'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 Falls Creek 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
Falls Creek, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$199
Ownwell’s Falls Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falls Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls Creek 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 Falls Creek, Pennsylvania
Property taxes in Falls Creek, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falls Creek is 0.25%, significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Falls Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falls Creek 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 Falls Creek's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in Pennsylvania is found in some areas, while other regions have the lowest median tax rates. Understanding how these cities compare with Falls Creek provides valuable insights into the varying tax landscape across Clearfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falls Creek 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 Falls Creek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15840 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Falls Creek, Pennsylvania
In Falls Creek, 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 Falls Creek, 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 Falls Creek is $79,546, with tax bills ranging from $139 at the 25th percentile to $351 at the 90th percentile. The highest and lowest median tax bills in the area are both $197, found in zip code 15840. 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 Falls Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Falls Creek, Pennsylvania
Source: Ownwell
$25,505
$91,730
$157,954
Average Falls Creek Assessed Value
$79,546
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 Falls Creek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15840 | $38,913 | $56,313 | $79,546 | $99,243 | $141,767 |
Source: Ownwell
Property Tax Bills Across Falls Creek, Pennsylvania
In Falls Creek, property tax bills are calculated based on the assessed value of a home, which is determined by the Clearfield County assessor's office. This assessed value is a percentage of the property's market value. Homeowners in Falls Creek experience property tax bills that vary widely, with the 25th percentile tax bill at $139 and the 75th percentile at $246. For those in the 90th percentile, tax bills can reach up to $351. These tax bills are influenced by several factors, including the property's location within the county, any applicable exemptions, and the specific tax rates set by local taxing authorities. Compared to the national median property tax rate of 0.99%, Falls Creek homeowners generally face lower tax bills, which can be a significant financial relief. However, understanding the intricacies of how these taxes are calculated and what exemptions may apply is crucial for homeowners looking to manage their annual property tax expenses effectively.
Average Falls Creek Tax Bill
$197
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls Creek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15840 | $96 | $139 | $197 | $246 | $351 |
Source: Ownwell