Mill Village, Pennsylvania Property Taxes
The median property tax rate in Mill Village, PA is 2.04%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Mill Village, the typical annual property tax bill reaches $1,655, exceeding the national median of $2,690. Property taxes in Mill Village 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 Mill Village'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 Mill Village or another part of Erie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mill Village, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$1,658
Ownwell’s Mill Village Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mill Village with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mill Village to project your property tax bill. This valuable tool provides insight into potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Erie County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Mill Village, Pennsylvania
Property taxes in Mill Village, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill Village is 2.04%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Mill Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill Village 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 Mill Village's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16427 zip code has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with Mill Village provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mill Village Tax Rate
2.04%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mill Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16427 | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Mill Village, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mill Village, PA. 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 Erie 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. 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. The median home price in Mill Village is $81,250, with tax bills ranging significantly. The 25th percentile tax bill is $1,023, while the 75th percentile tax bill is $2,011. The highest median tax bill in the area is $1,655, found in zip code 16427. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mill Village, Pennsylvania
Source: Ownwell
$33,860
$103,725
$173,590
Average Mill Village Assessed Value
$81,250
Average Erie County Assessed Value
$98,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mill Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16427 | $14,260 | $50,225 | $81,250 | $98,732 | $118,170 |
Source: Ownwell
Property Tax Bills Across Mill Village, Pennsylvania
In Mill Village, Erie County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For Mill Village, the median home price stands at $81,250. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile bill around $1,023 and the 75th percentile reaching $2,011. The top 10% of tax bills can be as high as $2,407. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. When compared to the national median property tax rate of 0.99%, Mill Village's tax rates can lead to substantial variations in financial obligations for homeowners. Understanding these factors helps homeowners better anticipate their annual expenses and plan accordingly.
Average Mill Village Tax Bill
$1,655
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mill Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16427 | $290 | $1,023 | $1,655 | $2,011 | $2,407 |
Source: Ownwell