Brackney, Pennsylvania Property Taxes
The median property tax rate in Brackney, PA is 3.59%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Brackney at $52,000, the typical annual property tax bill reaches $1,866, which is below the national median of $2,690. Property taxes in Brackney are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brackney's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brackney or another part of Susquehanna County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brackney, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.59%
Estimate Property Tax Bill
$1,867
Ownwell’s Brackney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brackney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brackney 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 Brackney, Pennsylvania
Property taxes in Brackney, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brackney is 3.59%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Brackney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brackney 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 Brackney's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18812 zip code has the highest median property tax rate of 3.59%, while the same zip code also has the lowest median tax rate of 3.59%. Understanding how these cities compare with Brackney provides valuable insights into the varying tax landscape across Susquehanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brackney Tax Rate
3.59%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brackney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18812 | 3.59% | 3.59% | 3.59% | 3.59% | 3.59% |
Source: Ownwell
Property Tax Assessment Values Across Brackney, Pennsylvania
In Brackney, 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 Susquehanna 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 Brackney, 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 Brackney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brackney is $52,000, with the highest and lowest median tax bill both recorded at $1,866 in zip code 18812.
Average Brackney Assessed Value
$52,000
Average Susquehanna County Assessed Value
$40,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brackney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18812 | $19,360 | $33,800 | $52,000 | $85,400 | $138,680 |
Source: Ownwell
Property Tax Bills Across Brackney, Pennsylvania
In Brackney, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Susquehanna County, the median home price is $52,000, and the median tax bill is approximately $1,866. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Brackney may see tax bills ranging from $1,213 at the 25th percentile to $4,955 at the 90th percentile, indicating a significant variation based on property characteristics and local tax rates. Compared to the national median property tax rate of 0.99%, Brackney's rates can be relatively high, impacting homeowners' financial planning and budgeting. Understanding these factors can help homeowners anticipate their tax obligations and explore potential exemptions or appeals to manage their tax burden effectively.
Average Brackney Tax Bill
$1,866
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Brackney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18812 | $695 | $1,213 | $1,866 | $3,065 | $4,955 |
Source: Ownwell