Gaines, Pennsylvania Property Taxes
The median property tax rate in Gaines, PA is 2.58%, which is considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Gaines, the typical annual property tax bill reaches $1,172, falling below the national median of $2,690. Property taxes in Gaines 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 Gaines'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 Gaines 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
Gaines, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$1,202
Ownwell’s GAINES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GAINES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GAINES 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 Gaines, Pennsylvania
Property taxes in Gaines, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Gaines is 2.58%, significantly higher than Pennsylvania's state median and the U.S. national median of 0.99%. Local government entities within Gaines set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gaines 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 Gaines's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16921 zip code has the highest median property tax rate of 2.58%, while the same zip code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with Gaines provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaines Tax Rate
2.58%
Average Tioga County Tax Rate
2.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaines, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16921 | 2.27% | 2.46% | 2.58% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Gaines, Pennsylvania
In Gaines, 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 Tioga 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 Gaines, 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. The median home price in Gaines is $46,590, with the 25th percentile tax bill at $621 and the 75th percentile at $1,836. The zip code 16921 has the highest and lowest median tax bill at $1,172. Being aware of these valuation processes in Gaines helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gaines Assessed Value
$46,590
Average Tioga County Assessed Value
$70,440
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaines, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16921 | $13,428 | $26,220 | $46,590 | $76,215 | $116,662 |
Source: Ownwell
Property Tax Bills Across Gaines, Pennsylvania
In GAINES, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Tioga County, the median home price stands at $46,590. The property tax rate in this region results in a median tax bill of $1,172, which is higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's market value, local tax rates, and any applicable exemptions. Homeowners in GAINES can expect their tax bills to vary, with the 25th percentile at $621 and the 75th percentile reaching $1,836. At the 90th percentile, tax bills can rise up to $2,742. These tax rates significantly impact homeowners, affecting their overall cost of living and potentially influencing decisions on property investments and home ownership in the area.
Average Gaines Tax Bill
$1,172
Average Tioga County Tax Bill
$1,960
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaines, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16921 | $336 | $621 | $1,172 | $1,836 | $2,742 |
Source: Ownwell