Mineral Springs, Pennsylvania Property Taxes
The median property tax rate in Mineral Springs, 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 Mineral Springs, the typical annual property tax bill is $149, well below the national median of $2,690. Property taxes in Mineral Springs 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 Mineral Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mineral Springs 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
Mineral Springs, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$151
Ownwell’s Mineral Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineral Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineral Springs 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 Mineral Springs, Pennsylvania
Property taxes in Mineral Springs, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineral Springs is 0.25%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Mineral Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineral Springs 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 Mineral Springs' effective property tax rate to other counties in Pennsylvania and the national median. Understanding how these cities compare with Mineral Springs 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 Mineral Springs 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 Mineral Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16855 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Mineral Springs, Pennsylvania
In Mineral Springs, 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 Mineral Springs, 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 Mineral Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mineral Springs, Pennsylvania
Source: Ownwell
$25,505
$91,730
$157,954
Average Mineral Springs Assessed Value
$60,354
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 Mineral Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16855 | $22,475 | $42,929 | $60,354 | $90,405 | $124,596 |
Source: Ownwell
Property Tax Bills Across Mineral Springs, Pennsylvania
In Mineral Springs, Clearfield County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county's assessment office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Mineral Springs is $60,354, with property tax bills ranging from $106 at the 25th percentile to $308 at the 90th percentile. Several factors influence the property tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. For homeowners, understanding these factors is crucial as they directly impact the affordability of homeownership. Compared to the national median property tax rate of 0.99%, Mineral Springs offers relatively lower tax bills, making it an attractive option for homeowners looking for affordability in property taxes.
Average Mineral Springs Tax Bill
$149
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineral Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16855 | $56 | $106 | $149 | $224 | $308 |
Source: Ownwell