Austin, Pennsylvania Property Taxes
The median property tax rate in Austin, PA is 3.37%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Austin, the typical annual property tax bill reaches $613, well below the national median of $2,690. Property taxes in Austin 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 Austin'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 Austin 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
Austin, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.37%
Estimate Property Tax Bill
$612
Ownwell’s Austin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Austin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Austin 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 Austin, Pennsylvania
Property taxes in Austin, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Austin is 3.37%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Austin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Austin 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 Austin's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16720 zip code has both the highest and lowest median property tax rate of 3.37%. Understanding how these cities compare with Austin provides valuable insights into the varying tax landscape across McKean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Austin Tax Rate
3.37%
Average Mckean County Tax Rate
3.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | 2.33% | 3.37% | 3.37% | 3.37% | 3.37% |
Source: Ownwell
Property Tax Assessment Values Across Austin, Pennsylvania
In Austin, 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 local 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 Austin, 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. For instance, the highest median tax bill in the area is $613 in the 16720 zip code. Being aware of these valuation processes in Austin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Austin Assessed Value
$18,160
Average Mckean County Assessed Value
$23,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | $3,510 | $11,250 | $18,160 | $42,340 | $50,850 |
Source: Ownwell
Property Tax Bills Across Austin, Pennsylvania
In Austin, located in McKean County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $18,160, homeowners in Austin can expect varying tax bills. The 25th percentile tax bill is around $367, while those in the 75th percentile pay approximately $1,255. At the 90th percentile, the tax bill rises to about $1,610. Several factors influence the tax bill, including the property's location, size, and improvements. These taxes fund essential public services such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, Austin's rates can be relatively moderate, offering some financial relief to homeowners. However, the impact on homeowners can vary significantly based on their property's assessed value and specific circumstances.
Average Austin Tax Bill
$613
Average Mckean County Tax Bill
$784
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | $118 | $367 | $613 | $1,255 | $1,610 |
Source: Ownwell