Watsontown, Pennsylvania Property Taxes
The median property tax rate in Watsontown, PA is 2.42%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Watsontown, the typical annual property tax bill reaches $1,209, exceeding the national median of $2,690. Property taxes in Watsontown 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 Watsontown'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 Watsontown or another part of Lycoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Watsontown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$1,208
Ownwell’s Watsontown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Watsontown with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Watsontown to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is determined by Lycoming County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Watsontown, Pennsylvania
Property taxes in Watsontown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watsontown is 2.42%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Watsontown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watsontown 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 Watsontown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17777 zip code has the highest median property tax rate of 2.42%, while the same zip code also has the lowest median tax rate of 2.42%. Understanding how these cities compare with Watsontown 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 Watsontown Tax Rate
2.42%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Watsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17777 | 2.42% | 2.42% | 2.42% | 2.42% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Watsontown, Pennsylvania
In Watsontown, 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 Watsontown, 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 Watsontown 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 $1209, found in zip code 17777.
Average Watsontown Assessed Value
$49,920
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 Watsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17777 | $49,920 | $49,920 | $49,920 | $49,920 | $49,920 |
Source: Ownwell
Property Tax Bills Across Watsontown, Pennsylvania
In Watsontown, Lycoming County, PA, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local tax assessor's office, which evaluates the property to estimate its worth. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Watsontown, the median home price is $49,920, and the median property tax bill is $1,209. This figure is significantly higher than the national median property tax rate of 0.99%, highlighting the importance of understanding local tax obligations. Factors such as property improvements, neighborhood developments, and changes in local tax rates can influence the assessed value, thereby affecting the tax bill. Homeowners should stay informed about these factors to anticipate changes in their property taxes. Understanding how these elements interplay helps homeowners manage their finances more effectively and advocate for fair property assessments.
Average Watsontown Tax Bill
$1,209
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Watsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17777 | $1,209 | $1,209 | $1,209 | $1,209 | $1,209 |
Source: Ownwell