Cedar Run, Pennsylvania Property Taxes
The median property tax rate in Cedar Run, PA is 2.61%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Cedar Run, the typical annual property tax bill reaches $1,650, exceeding the national median of $2,690. Property taxes in Cedar Run 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 Cedar Run'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 Cedar Run 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
Cedar Run, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$1,648
Ownwell’s Cedar Run Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Run 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 Cedar Run, Pennsylvania
Property taxes in Cedar Run, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Run is 2.61%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cedar Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Run 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 Cedar Run's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17727 zip code has the highest median property tax rate of 2.61%, while the same zip code also has the lowest median tax rate of 2.61%. Understanding how these cities compare with Cedar Run 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 Cedar Run Tax Rate
2.61%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17727 | 2.61% | 2.61% | 2.61% | 2.61% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Run, Pennsylvania
In Cedar Run, 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 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 Cedar Run, 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. Cedar Run has a median home price of $63,150, with tax bills ranging from $1,233 at the 25th percentile to $3,375 at the 90th percentile. Being aware of these valuation processes in Cedar Run helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedar Run Assessed Value
$63,150
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 Cedar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17727 | $31,992 | $47,195 | $63,150 | $98,600 | $129,172 |
Source: Ownwell
Property Tax Bills Across Cedar Run, Pennsylvania
In Cedar Run, PA, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. For homeowners in Cedar Run, the median home price stands at $63,150. The property tax rate for the area is higher than the national average of 0.99%, leading to significant tax bills for residents. For instance, homeowners in the 25th percentile pay around $1,233 in property taxes, while those in the 75th percentile face bills of approximately $2,576. At the higher end, the 90th percentile tax bill reaches up to $3,375. Several factors influence these tax bills, including the home's assessed value, any applicable exemptions, and the local tax rate set by Lycoming County. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors interplay is essential to managing their annual tax obligations and planning their finances accordingly.
Average Cedar Run Tax Bill
$1,650
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17727 | $836 | $1,233 | $1,650 | $2,576 | $3,375 |
Source: Ownwell