Mt Morris, Pennsylvania Property Taxes
The median property tax rate in MT Morris, PA is 4.18%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in MT Morris, the typical annual property tax bill reaches $723, which is significantly lower than the national median of $2,690. Property taxes in MT Morris 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 MT Morris'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 MT Morris 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
Mt Morris, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.18%
Estimate Property Tax Bill
$778
Ownwell’s MT Morris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MT Morris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MT Morris 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 Mt Morris, Pennsylvania
Property taxes in MT MORRIS, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MT MORRIS is 4.18%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within MT MORRIS set these rates annually, and they can vary significantly across different neighborhoods. Each year, MT MORRIS 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 MT MORRIS's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15349 has the highest median property tax rate of 4.18%, while the same zip code also has the lowest median tax rate of 4.18%. Understanding how these areas compare with MT MORRIS provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mt Morris Tax Rate
4.18%
Average Greene County Tax Rate
3.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mt Morris, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15349 | 4.18% | 4.18% | 4.18% | 4.18% | 4.18% |
Source: Ownwell
Property Tax Assessment Values Across Mt Morris, Pennsylvania
In MT MORRIS, 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 Greene County Appraisal District 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 MT MORRIS, 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 MT MORRIS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $723.00, located in the 15349 zip code.
Average Mt Morris Assessed Value
$18,605
Average Greene County Assessed Value
$35,632
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mt Morris, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15349 | $2,377 | $11,105 | $18,605 | $47,792 | $102,871 |
Source: Ownwell
Property Tax Bills Across Mt Morris, Pennsylvania
In MT Morris, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the tax bill. For homeowners in Greene County, PA, the median home price stands at $18,605. The property tax rate in this region can lead to significant variations in tax bills. For example, the 25th percentile tax bill is $464, while the 75th percentile tax bill reaches $1,998, and the 90th percentile tax bill can be as high as $4,300. These figures illustrate the range of property tax burdens that homeowners might face, depending on their property's assessed value and the applicable tax rate. Comparatively, with a national median property tax rate of 0.99%, homeowners in MT Morris may experience different financial impacts on their annual budget, influencing decisions on homeownership and property investments.
Average Mt Morris Tax Bill
$723
Average Greene County Tax Bill
$1,387
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mt Morris, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15349 | $99 | $464 | $723 | $1,998 | $4,300 |
Source: Ownwell