Custer City, Pennsylvania Property Taxes
The median property tax rate in Custer City, PA is 3.94%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Custer City at $23,740, the typical annual property tax bill reaches $899, which is below the national median of $2,690. Property taxes in Custer City 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 Custer City'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 Custer City or another part of McKean County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Custer City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.94%
Estimate Property Tax Bill
$935
Ownwell’s Custer City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Custer City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Custer City to provide an accurate estimate of your property tax bill. This insightful tool is designed to help you understand potential tax liabilities, ensuring you’re well-prepared for any financial commitments. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by McKean County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Custer City, Pennsylvania
Property taxes in Custer City, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Custer City is 3.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Custer City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Custer City 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 Custer City's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16725 has both the highest and lowest median property tax rate of 3.94%. Understanding how these cities compare with Custer City 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 Custer City Tax Rate
3.94%
Average Mckean County Tax Rate
3.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Custer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16725 | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% |
Source: Ownwell
Property Tax Assessment Values Across Custer City, Pennsylvania
In Custer City, 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 McKean County 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 Custer City, 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 Custer City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 16725 has the highest and lowest median tax bill, both at $899.
Average Custer City Assessed Value
$23,740
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 Custer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16725 | $5,420 | $9,940 | $23,740 | $36,680 | $45,700 |
Source: Ownwell
Property Tax Bills Across Custer City, Pennsylvania
In Custer City, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in the area is $23,740, and property taxes are calculated based on this assessed value. Homeowners in Custer City can expect their tax bills to vary significantly, with the 25th percentile paying around $391 and the 75th percentile facing bills up to $1,444. At the higher end, the 90th percentile sees tax bills reaching $1,799. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions. For homeowners, this means that changes in property value or local tax policies can directly impact their annual tax obligations. Compared to the national median property tax rate of 0.99%, Custer City's tax rates reflect the specific economic and policy environment of McKean County. This variability in tax bills underscores the importance for homeowners to stay informed about local property assessments and tax regulations.
Average Custer City Tax Bill
$899
Average Mckean County Tax Bill
$784
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Custer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16725 | $213 | $391 | $899 | $1,444 | $1,799 |
Source: Ownwell