Slate Run, Pennsylvania Property Taxes
The median property tax rate in Slate Run, PA is 2.61%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Slate Run at $37,350, the typical annual property tax bill reaches $976, which is below the national median of $2,690. Property taxes in Slate Run are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Slate 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 Slate 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
Slate Run, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$975
Ownwell’s Slate Run Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slate Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slate 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 Slate Run, Pennsylvania
Property taxes in Slate Run, Pennsylvania, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Slate Run is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Slate Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slate 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 Slate Run's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17769 zip code has both the highest and lowest median property tax rate of 1.46%. Understanding how these areas compare with Slate 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 Slate 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 Slate Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17769 | 2.61% | 2.61% | 2.61% | 2.61% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Slate Run, Pennsylvania
In Slate 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. Assessment notices in Slate Run 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 Slate Run helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 17769 has both the highest and lowest median tax bill at $976.
Average Slate Run Assessed Value
$37,350
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 Slate Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17769 | $12,886 | $20,730 | $37,350 | $81,522 | $124,839 |
Source: Ownwell
Property Tax Bills Across Slate Run, Pennsylvania
In Slate Run, Lycoming County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and reflects a percentage of the property's market value. The local tax rate, or millage rate, is applied to the assessed value to calculate the annual tax bill. For example, with a median home price of $37,350 in Slate Run, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property size, location, and any improvements made can influence the assessed value. The tax bill can vary significantly, with the 25th percentile at $542, the 75th percentile at $2,130, and the 90th percentile reaching $3,262. Compared to the national median property tax rate of 0.99%, these figures highlight the range of property tax burdens homeowners may face. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Slate Run Tax Bill
$976
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Slate Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17769 | $337 | $542 | $976 | $2,130 | $3,262 |
Source: Ownwell