Canton, Pennsylvania Property Taxes
The median property tax rate in Canton, PA is 2.46%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $42,800 in Canton, the typical annual property tax bill amounts to $1,051, surpassing the national median of $2,690. Property taxes in Canton are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Canton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Canton or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Canton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.46%
Estimate Property Tax Bill
$1,053
Ownwell’s Canton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canton 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 Canton, Pennsylvania
Property taxes in Canton, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canton is 2.46%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Canton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canton 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 Canton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17724 zip code has the highest median property tax rate of 2.46%, while the 17724 zip code also has the lowest median tax rate of 2.46%. Understanding how these areas compare with Canton provides valuable insights into the varying tax landscape across Lycoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canton Tax Rate
2.46%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17724 | 2.46% | 2.46% | 2.46% | 2.46% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Canton, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Canton, Pennsylvania. 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 Lycoming 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 Canton, 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. For example, the highest median tax bill in Canton is $1,051 in zip code 17724. 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 Canton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Canton Assessed Value
$42,800
Average Lycoming County Assessed Value
$87,660
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17724 | $13,192 | $24,182 | $42,800 | $56,668 | $97,584 |
Source: Ownwell
Property Tax Bills Across Canton, Pennsylvania
In Canton, Lycoming County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $42,800, homeowners can expect property tax bills to vary significantly. The 25th percentile tax bill is approximately $594, while the 75th percentile tax bill reaches around $1,392. For those in the 90th percentile, tax bills can be as high as $2,397. These figures indicate how property taxes can impact homeowners differently based on their property's assessed value. Notably, the highest and lowest median tax bills in the area are both $1,051, reflecting a uniformity in certain areas within the zip code 17724. Compared to the national median property tax rate of 0.99%, Canton's property taxes can be seen as relatively moderate, making it an important consideration for current and prospective homeowners.
Average Canton Tax Bill
$1,051
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Canton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17724 | $324 | $594 | $1,051 | $1,392 | $2,397 |
Source: Ownwell