Wallaceton, Pennsylvania Property Taxes
The median property tax rate in Wallaceton, PA is 0.25%, considerably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $60,858 in Wallaceton, the typical annual property tax bill is $151, significantly below the national median of $2,690. Property taxes in Wallaceton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wallaceton'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 Wallaceton or another part of Clearfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wallaceton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$152
Ownwell’s Wallaceton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wallaceton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wallaceton 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 Wallaceton, Pennsylvania
Property taxes in Wallaceton, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wallaceton is 1.54%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wallaceton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wallaceton 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 Wallaceton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in the state is 2.02%, while the lowest median tax rate is 0.90%. Understanding how these cities compare with Wallaceton 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 Wallaceton 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 Wallaceton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16876 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Wallaceton, Pennsylvania
In Wallaceton, 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 Wallaceton, 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 Wallaceton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wallaceton are both $151.00 in zip code 16876, reflecting a relatively uniform tax environment.
Average Wallaceton Assessed Value
$60,858
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 Wallaceton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16876 | $26,920 | $43,814 | $60,858 | $91,793 | $136,263 |
Source: Ownwell
Property Tax Bills Across Wallaceton, Pennsylvania
In Wallaceton, 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 a percentage of the market value determined by local assessors. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Wallaceton, the median home price is $60,858. The property tax bill varies significantly, with the 25th percentile paying around $108 annually, while those in the 75th percentile pay approximately $227. The highest median tax bill recorded is $151, which is consistent across the area. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and home values significantly influence tax bills. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners need to be aware of their property's assessed value and the local tax rate to understand their financial obligations better and ensure they are not overpaying.
Average Wallaceton Tax Bill
$151
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wallaceton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16876 | $67 | $108 | $151 | $227 | $337 |
Source: Ownwell