Newburg, Pennsylvania Property Taxes
The median property tax rate in Newburg, PA is 1.50%, which is considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $172,500 in Newburg, the typical annual property tax bill reaches $2,691, just above the national median of $2,690. Property taxes in Newburg are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Newburg'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 Newburg or another part of Cumberland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,588
Ownwell’s Newburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newburg 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 Newburg, Pennsylvania
Property taxes in Newburg, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newburg is 1.50%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Newburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newburg 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 Newburg's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17240 zip code has both the highest and lowest median property tax rate of 1.50%. Understanding how these areas compare with Newburg provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newburg Tax Rate
1.50%
Average Cumberland County Tax Rate
1.84%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17240 | 1.50% | 1.50% | 1.50% | 1.72% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Newburg, Pennsylvania
In Newburg, 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 Cumberland 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 Newburg, 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 Newburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,691 in zip code 17240, while the lowest is also $2,691 in the same zip code.
Average Newburg Assessed Value
$172,500
Average Cumberland County Assessed Value
$182,700
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17240 | $79,700 | $127,125 | $172,500 | $212,050 | $262,340 |
Source: Ownwell
Property Tax Bills Across Newburg, Pennsylvania
In Newburg, Cumberland County, PA, property tax bills are calculated using the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is often a percentage of the property's market value. For example, if the median home price in Newburg is $172,500, the tax bill can vary significantly based on the assessed value and applicable tax rates. Homeowners in Newburg typically see tax bills ranging from $2,071 at the 25th percentile to $3,316 at the 75th percentile, with the 90th percentile reaching as high as $4,186. This variability is influenced by factors such as property improvements, neighborhood changes, and local government budget requirements. The highest and lowest median tax bills in the area both stand at $2,691, indicating a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Newburg residents may find their tax rates to be somewhat competitive, depending on individual property assessments and local tax policies.
Average Newburg Tax Bill
$2,691
Average Cumberland County Tax Bill
$3,176
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Newburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17240 | $1,219 | $2,071 | $2,691 | $3,316 | $4,186 |
Source: Ownwell